Building Shortage

The Copper and Brass Research Association has completed a survey on the building shortage in this country, of general interests to tenants, landlords, mortgage-holders. On Jan. 2, 1920, the shortage amounted to $10,750,000,000; and each year an additional amount of construction valued at sums starting at $3,000,000,000 and steadily increasing was likewise required to meet the normal growth of the country.

In the last five years about $23,500,000,000 has been spent for construction, as follows:

In 1920...................... $3,943,865,000

In 1921.......................$3,442,300,000

In 1922.......................$4,910,000,001

In 1923........................$5,922,900,000

In 1924........................$5,341,140,000

Construction during the coming year is estimated at $4,000,000,000 which, according to the survey, will reduce the building shortage on Jan. 1, 1926, to only $400,000,000. The survey concludes that the building industry gives several indications of slowing down.

Unfortunately, the construction of the past few years has been performed unevenly throughout the country, and with different classes of buildings. Thus, in some sections, there is still a shortage in certain types of building, while in others there is an oversupply. In Washington, D. C, President Coolidge has felt it necessary to appoint a commission to fix rents. On the other hand, T. H. Green, former president of the Hotel Association fof New York City, has declared that more hotels are now being built than there is need for, and that this may bring on serious difficulties to the whole hotel industry. He recalled the dark days of 1903-04, when one Manhattan hotel failed so often that the Sheriff had to board in it to fulfil his duties.