Farm families of Iowa spent about $48 million in 1948 for farm housing. About half of this-$22 million-was for new dwellings. The remainder was for alterations and repairs. This total expenditure was about 2.2 percent of the estimated gross cash receipts from farming in that year.²

To appraise the industry which produces this housing, it is necessary to have some knowledge of revenue and costs of firms in housing construction at various levels of output. If one is also to determine the extent to which harmony of interests among producers, owners of resources and consumers of farm housing has been achieved, some knowledge of the cost-revenue structures of other industries would also be necessary.