Word: l41
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Dates: during 1940-1949
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Almost everyone in Washington thought it was safe last week - except OPAdministrator Chester Bowles. More inflation-conscious now than ever, Bowles argued that abolishing L41 gave contractors the right to build houses on speculation, sell them on the open real-estate market. Since OPA could control a contractor's profits only if he built a house for a private individual, this, said Bowles, would make the sky the only price ceiling...
...some 18 months, home builders have been held down by WPB's order L41 ; they could build no house that cost more than $8,000. When WPB swept out most of its restrictions at war's end, it also promised to drop L-41, at the end of this month. But last week, the construction industry was shocked to learn that L41 is far from dead. OPA was waging a rear guard action to keep the L41 restriction of $8,000 - or raise it to $12,000, at most - on all new private houses for another six months...
...Federal Works Agency, and the nation's contractors and real estate men, were just as grimly determined to dump L-41, scrap any other ceiling plan. Said they: 1) L41 is retarding normal building activity just when it is most needed; 2) the sooner the building industry gets going, the sooner it can hire the four to eight million workers it will need; 3) materials and labor will be so plentiful by the time the building boom gets under way next spring that competitive production alone will hold prices down. The whole price problem was of such prime importance...
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