Evening star., 1941-09-27
Shop Talk
News About Builders
And ReuI Estate
Personalities

The release of regulations for
housing priorities caused great con-
sternation among home builders In
this area although they were not
very different from what most peo-
nle expected they would be. 1t Is
likewise considered very, very doubt
full whether builders will be able
to have any of the regulations
liehtened. Many builders, struggling
for their economic lives. are expected
to make big effort to get relief
from the rigid restrictions.
One great disappointment to
builders, and the source of most
concern to many, is the fact that
the regulations give no standing at
all to construction which is already
under way and which does not fall
in the $4,000 cost maximum for
homes which the Supply Priorities
and Allegations Board set up.
The Home Builders Institute,
representative of builders all over
the country, met here early this
month and urged that a preference
rating be given all types of con-
struction which had been started.
Most local builders thought they
would be taken care of and that 1t
would be safe to start new houses.
While the priorities board gave the
highest rating to strictly defense
home building now being completed,
the millions of dollars worth Of
homes above the $1,000 limit were
ignored. 1t seems to many that the
skyline of suburban Washington as
we'll as other American cities will
be dotted with skeletons of houses
which builders are unable to finish
because of inability to obtain ma
terials. Builders will be forced to
carry" these houses for months,
maybe years, and, needless to say, 1t
will break many.
washington builders say that 1t
Is most unfair to compare the
market here with defense areas In
other parts of the country. For one
thing. construction costs perhaps
are higher here than in any other
citv. The $4,000 maximum is too
low, they say, and should be raised
to at least $500. They will en-
deavor TO have it raised. Then, 1t
Is pointed out that the average
person in Washington makes more
money than the John Does of other
towns. and demands better-type
abode. It costs so much more TO
build here that the Capitals typical
$500 house could be sold profltably
for $4,000 in many other cities.
Anyway. it is big and important
problem, and unless builders are
given a little better break here
there are many who will be out of
business soon, either of their own
volition or bv force.
Don't forget the big business
meeting of the Washington Real
Estate Board scheduled for the May
flower Hotel Monday night. It's the
boards annual meeting, but 1t will
not all be business. for President
waverly Taylor SAYS there will be
. buffet supper following the ses-
sion.
Both active and associate members
are invited to the meeting. although
only the active ones will be allowed
10 take part in the voting. New off,
GERS and several directors will be
named, with Charles Koones slated
to succeed Mr.. Taylor as president
Officers and chairmen of the various
committees will give their reports.
Nathan Poole, prominent young
realtor, is Joining the firm of the
Drury Realty Corp. it was an
nounced today by Paul o. Drury,
president. Mr. Poole has been
elected vice president of the corpo-
ration, and will aid in development
of the company's rapidly expanding
loan and management business
Mr.. Poole Is a native Of Washing
ton. He has been keen student
and observer of the real estate and
banking business, and has had wide
experience in many phases of prop
erty management. When the Insti-
tute of Real Estate Management of
the National Association of Real Es-
tate Boards was organized some
years ago he took an active part and
Is now charter member of the
District chapter.
He is a graduate of the American
Institute of Banking and a holder
of masters degree in commercial
science from Benjamin Franklin
University. He is leaving, after
seven years. as an officer of the
American Co.
Mr.. Poole is treasurer and men,
Der of the board of Columbia Insti-
tuition for the Deaf, Gallaudet Col
lege, and member of the board of
the National Association of Cost Ac-
eountants. He belongs to the Board
OF Trade and the Real Estate Board.
The second week OF rolling In the
District Building and Loan League