Real Estate: Back to Normal

After 15 years of building as if there were no tomorrow, the U.S. has over come the postwar building shortage caused by a burgeoning population and expanding business. In Chicago last week, at a meeting of realtors from across the U.S. and 20 foreign countries, officials calculated the value of residential real estate in the U.S. at half a trillion dollars — about a quarter of the nation's total wealth. They could only guess at the value of the office buildings, stores and shopping centers that have also proliferated since the war....

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