Building Boom

The F. W. Dodge Co. reports for building show that again in March, construction in the U. S. considerably exceeded 1923 figures. Thus far every month this year has shown more building than the record amounts reached last year.

Activity is greatest in and about New York City, where shortage of buildings is greatest. Many other parts of the country have seemingly built up to their requirements, and as a result, amounts of construction there have for the three months this year fallen below totals for 1923. Yet so huge has been the volume of building about New York, that it has offset such declines and carried the nation's construction to new record figures.

The March total for building in New York City was $131,611,100 which is 83% greater than the preceding month and 130% greater than for March, 1923.

Grave warnings are now being sounded by prominent New York builders and construction interests. Last Spring's building volume was enough to cause a shortage of labor and materials, and doubt is expressed as to the ability of the industry to continually increase its production. It may be, however, that labor and materials will be released from other parts of the country for employment in New York; money for building purposes is plenty and cheaper than last year.

Landlords are now clamoring for slower production so that rents can be held up and depreciation in earning power of properties avoided. But tenants, for just the opposite reason, wish the building trades all good fortune in their record program for the Spring.