Salt Lake Telegram | 1921-04-24 | Page 26 | 500 New Houses Prospect for Year in Salt Lake

J 6 1 HE SALT SAL LAKE LAKi 7 SUNDAY SUNDAY MORNING APRIL 24 24 1921 1 a NEW HOUSES PROSPECT fOR YEAR IN SALT LA I RECORD n Vf THIRD Of MILLION Realtors of City Predict Much Muc h B Building During the Summer Building permits Co 0 o date for April to total total to- to tal tat with Indications that the total for tho the month will exceed d OOOO Building permits for the first firs t quarter of 1921 are more mo-e and more encouraging encouraging encouraging aging for tor a banner year In March this year the number of ot permits per per- permits mits over 1920 increased about percent per percent cent cent with excellent indications that April will exceed the same month last year jear ear by bya a a. wide margin These figures Indicate according to Salt alt Lake Realtors that when the last obstacles obstacles obstacles ob ob- are removed Salt Lake will have an encouraging building boom BUILDING HOMES Reports for March show that practically practical practical- ly the entire number of ot permits are fo for r home dwellings the only exception bein being g the tho Dodge Brothers garage for 75 While the totals for tor the first three months month s of 1921 are lower than 1920 for the same period the number of permits is 50 pe per percent percent r cent greater indicating to those thos e In close touch with the building situation that home building for 1921 will exceed d by a wide margin the record of any previous previous previous ous year ear The Salt Lake real estate board ha hamade has hae s m made de a tentative cam canvass ass of property owners who contemplate building within the next few months and the reports have hav e been gratifying according to President t V V. H H. RIchey DWELLINGS From January 1 to April 1 1 this yea rear r permits for about dwellings have been n issued with Indications that the goal of ot new homes in 1921 will be reach reached d before next winter Building operations this year have been n particularly favored because of ot the open ope n winter More permits were applied for 1 in n March this year than In any previous s year since 1914 With a gradual return t ta to toa toa o e a normal money money- market with mortgage e money sought by investors as the best bes tn t security obtainable building operations 1 In n all sections of the country promise a a. banDer banner banner ban ban- ner Der year jear Contrary to reports 1921 was not a bad year jear ear for building activities according to toa toa toa a close check of ot the building permits is issued Is- Is sued Most cities Include the totals o of ot fe f school buildings which according to th the e Utah laws are not subject to the supervision supervision super super- vision of ot the city building Inspection an anno and d no licenses for school buildings are applied applied applied ap ap- plied for The earlier reports showed showe d for the 1921 total to which should be added In new s started by the board of ot education This new total J 8 compares quite favorably favorably fa favorably fa- fa with the 1919 banner year ear when n the permits totaled PRESENT PROSPECTS With even present indications the 1921 1 total should equal 1919 1911 about Congress is considering several emergency measures for the immediate relief of th the e housing situation All these measures havone have hav e one object in view according to Salt Lake Lak e realtors the extension of the federal reserve re reserve reserve re- re serve bank system to include long ter term paper for home building along the pla plan n of the farm loan act passed In 1916 Another Interesting plan which will soo soon n be considered b by Congress is the extension of ot the postal savings bank system to make mak e more money available for home building Financial experts say that If It the conditions conditions conditions condi condi- surround postal savings were e changed and the rate of interest Increased increase d above the present 2 per cent many millions millions millions mil mil- lions of dollars could be diverted to th the postal savings and In turn loaned by th the 9 government for homes BACK TO NORMAL Salt Lake realtors state a revival o ol ot f building operations will do more than any anyone anyone anyone one other single factor to bring local an and d state conditions back to normal So o many factors enter into building activities that literally hundreds of men could be employed employed em ern- in Salt Lake Immediately if building build fag ing operations would boom they say It I is g estimated that between 75 and 8 83 85 per cent of ot all building costs represent labor from the raw materials to the finished house Local realtors point out that the cos cosof cost of ot building operations In Salt Lake have hav e decreased about 20 per cent on the average aver aver- age Numerous realtors in Salt Lake who wh o build houses for tor sale are entering th the oe e building field more actively this year ear than tha n at any time since the war These me men n know building I conditions and the future U of rb building ll i costs st and dIOt their I ne entrance t c into the building field indicates favorably fo for forthe forthe r the future