Evening star., 1944-05-20
Real Estate News of the Week
Home Builders Bottle Public Housing
Advocates to Construct Future Homes

Slum clearance and the contro-
versy over whether private builders
or National Capital Housing Au-
thority should construct future bad
iy needed living units in the District
got off to a brisk start at the CITY,
wide housing conference at the
Chamber of Commerce last Satur-
day. In a discussion led off by John
Ihlder of NCHA, who outlined the
past record of his organization, the
audience heard the private builders
point of view from Rufus Lusk
president of the Taxpayers Asso-
citation. Subsidies, proposed legis-
lation, the point of view of the AFL
and the CIO all had their place on
the program. The afternoon ses-
sion was devoted to a discussion of
slums and poor living conditions.
Question periods followed each talk
Home builders and NCHA met
again on Tuesday in the Office of
the National Capital Park and
Planning Commission with NCHA
insisting that private enterprise had
not provided for the low-income
groups, and the builders protesting
that NCHA had not done the job,
and should now step out of the pic
ture and let private builders handle
all housing in the District. Gen.
q. s. Grant, Sd, presided.
On Wednesday. May II, Senator
Tydings, Democrat, of Maryland in
troduced a bill Endorsed by citizens
and home builders associations pro-
viding for the elimination of alley
dwellings and the clearing and re-
development of slum areas 'in the
old-fashioned American way" the
Senator said, by private enterprise
under Government supervision. ;"
The bill was referred to the District
Committee
Thursday Senator Capper intro
duced the Urban redevelopment bill,
submitted by the National Capital
Park and Planning Commission
which provided place for both
private industry and NCHA in
slum clearance and rehousing. On
Friday after full week of intense
effort on the subject all parties
were f1abbergasted when Senator
Silbo, head of the District Commit
tee, took all the bills out of the
hands of the subcommittee headed
oy Senator Burton, and announced
the appointment of a new commit
tee headed by Senator Walsh of
Massachusetts, ito pass on all the
conflicting plans.
Y
Col. M. J. O'Byrne has just been
appointed to head the real estate
department of the Once of the
Surplus Property Administrator
Active in real estate circles for 20
years in civilian capacity. during
this war he has handled War De-
partment operations in the Pacific
Coast region, so that he comes to
his new position well fortified with
experience to face Government real
estate problems.
Realtors Washington Committee
Of the National Association of Real
Estate Boards this week offered
their services to the Veterans Ad-
ministration in an advisory capacity
on the real estate provisions of the
CT bill. The House bill boosted
the original Senate version on the
loan provisions from 81, 900 to ST 500.
Some of the major amendments to
the loan provisions give the veterans
administrator full responsibility for
loan approval, authorized him to
utilize the services of any State or
Federal agency in approving loans,
and while it does not authorize him
to make loans, does permit him to
guarantee SO per cent of a loan
secured from any person or lending
agency. The interest rate was
changed from no interest the first
year and 8 per cent compound in
terest thereafter. to per cent per
snnum. The bill proposes that the
administration pay loan interest
the first year from an appropriation
to be made for that purpose.
Boyd T. Barnard, chairman of
the policy group of NAREB stated
Realtors throughout the country
are prepared to lend every assist
ance to assure veterans the maxi
mum benefits of specific provisions
regarding real estate and farm pur-
chases in prospect under this legis-
iation. We expect to see to it that
eeterans receive full dollars worth
for every dollar spent in the pur-
chase of farms and other real
estate"