Monster Building Plan in U.S.A.

Manawatu Times, Volume 70, Issue 267, 12 November 1945, Page 2

Monster Building Plan in U.S.A.

NEW YORK. A building job, 26,000,000,000 dollars, supported by private enterprise, is promised the construction industry for the five years beginning in 1947 and running through 1931, according to the market analysis committee of the Producers’ Council of Washington. Welson Wright, chairman of the committee, said that in the five-year period more than 4,600,000 houses would be built, chiefly here, at an average cost of 5600 dollars, exclusive of the cost of the site. He said there would be a reduction in the size of the post-war dwelling as a measure partly to offset new construction costs. Mr. Wright said that the forecast indicates houfiing for about 620,000 nonfarm families would bo built in 1947, more than double the number estimated for 1946. In 1948, the number of dwelling units that will*be built should rise to 870,000 and then is expected to average 1,050,000 in the three-year poriod ending with 1951. Both housing for sale and for rent are covered in the estimate.