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Show Current Building Boom Breaking All Home Construction Records Since 1 929 K' ' -' ' " T - i " 1 jfw -w-fJic ,s v c 4." , i i - i H u U P I ' v4 'I - 1 i -"If H V I 3 I t I 5 all , x s 4 y i at! v i- I LJ -ssr LonS-held hopes that building trades industry would lead way to prosperity seem near realization as residential building records for ten years are being eclipsed with construction of nearly half a million homes. Scope of economio benefit this activity brings Is pointed out by John D. Biggers (inset), president of Libbey-O wens-Ford glass company and former Unemployment Census administrator, stating that 41 cents of every building dollar creates Jobs for workmen "on the scene" and considerable portion of the 59 cents spent for materials pays wages ol other workers. At lower right Is shown a new home in Florida with large window areas and functional design, including includ-ing roof garden, typical of modern trend. Federal Housing Authority reports 500 new homes starting daily under FHA financing (upper right). WASHINGTON Nearly half a million new homes are going up this year in the nation, breaking all residential resi-dential building records for the past ten years. "Rebuild America" is the battle cry of the building trades and America Amer-ica is responding by building 450,000 new homes this year in comparison to 347,000 last year and only 62,000 in 1934, figures assembled by the National Na-tional Home Builders Bureau show. But even more significant, economists econo-mists say, are the indications that the construction industry at last is filling its long-expected role of leading the way back to prosperity.. One authoritative authori-tative view on this trend is voiced oy John D. Biggers, president of Libbey-Owens-Ford glass company and former administrator of the Federal Fed-eral Unemployment census. "The building materials industry confidently expects 1939 to mark a :en-year peak in home construction. The building pace in the first nine months, coupled with reports from real estate boards that twice as many building lots are being sold, forecasts such a record," Mr. Biggers said. "New homes erected last year sheltered almost 1,500,000 persons, itself a record since 1929. Yet, for the decade, home building did not even catch up with the increase in population, let alone with new home needs due to fire, flood and obsolescence. obsoles-cence. There remains a great need for new homes. The economic value of activity directed at fulfilling this need is seen in the fact that 41 cents of the 'building dollar' creates jobs for workmen 'on the scene' and a considerable con-siderable portion of the 59 cents spent for materials pays wages of other workers in mills, quarries and factories." fac-tories." Building dollars are buying more in space and quality, construction engineers report. Bargain prices on materials hold true in nearly every field glass. metals, plastics, wood products and masonry units. What were once luxuries lux-uries are now commonplace. Mr Modest Income can now have ar. electrically equipped kitchen in ai air-conditioned home which is insu lated and double glazed, with therm c. stat heating control, "picture windows," win-dows," rubber floor tiling, large built in mirrors, vitrolite walls in kitcher and bath and other improvements beyond be-yond the range of his purse unt recently. Considerable impetus has bt given by such agencies as the Unito-States Unito-States Housing Authority, which spending $200,000,000 this yeai f low-rent multiple-dwelling projec; and by the Federal Housing Authoril which reports about 500 new homt starting daily under FHA financir' It accepted for insurance durin the first nine months of 1939 mo gages valued at $545,000,000 compai. with $474,000,000 for the same per,, last year. |