Business & Finance: Moving Day

Two major pedestals for any general U. S. prosperity are a substantial income for U. S. farmers and a substantial tide of new housing construction. At present, as everybody knows, the pocketbooks of U. S. farmers are bulging after seven lean years, but a housing boom long anticipated has yet to materialize. There are obvious reasons why, as in three previous housing booms (1871-73, 1905-06, 1923-28), residential building does not start until rents rise proportionately above construction costs. In previous housing cycles costs always rose earlier than rents but the boom waited until rents rose sharply enough to catch up or...

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