One straw that businessmen have clung to during Depression II has been the steadiness of building as compared with virtually every other major U. S. industry. Although new construction was at such low ebb it could not drop much, there were other considerations: 1) rents in 1937 rose out of proportion to living costs, 2) building costs simultaneously fell, 3) the New Deal still further liberalized its construction lending policy.
How building is faring was last week indicated by the National Industrial Conference Board in a nine-page survey with charts. Its...
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