The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1858-11-18
The Revival In Heal Estst~.
From ,hs n. Y, rimea.

From ths n. Y, rines,
There arr unmistakabe signs that new
speculation in real estate Is brewing, which
will probably send up the prices Of real Is
tate 10 much higher point than they have
yet reached in many ycars, II not higher
than th,y have ever risen. There is every
possible thing 10 discourage capitalists IRON
investing in real estate on this island. in
the enormous taxes which arc yearly levied
on property Of all kinds. in the fraudulent
asessm,nts for opening streets, the wretch
I'd Encouragement OF the City Governmeat.
aud IL, uncertainty as to the character
which street or avenue may assume alter
it has ben opened. But with oil these dis
advantages there are the certainti,s Of
rapidly extending population, contracted
city limits, aud the splendid realities Of mag.
ni6ccnt fortunes made by purchasers OF real
estate diriug The past thirty years. Lots
which sold ut 500 to $500 ten years ago.
arc now selling ut $1,000; and lots which
could have been purchased at 8? 900, would
now b. regarded "a cheap at $4,000.
What has been once may bc again, and the
same rush to g,t hold Of IL piece OF real cs.
tate for speculative purposes. which has
been Witnessed here ut intervals during the
past twenty years, will doubtless be wit
nescd again. The signs ARE indicative OF
our being on tho verge OF another surge,
and thcrt are thousands Of advcnturcs ea.
gerIy waiting for an opportunity to launch
their barks ou the sea Of speculation, that
they may llgal on 10 fortune at the first
turn Of tie tide. An old gentleman, who
had become "a millionaire by the accidental
purchase Of cabbage garden. which hap
peutd to become fashionable part Of the
city, gave it as his opinion that the safest
and sure way o! becoming rich in New
York wa to get hold of u anug piece Of
property nn1 keep it," The rule is u very
excellent one, and there can be no doubt
that any one who follows 1t will be surc OF
becoming millionaire, II the piece OF pro-
perty he gets hold OF IL large enough aud he
holds il long enough.
but ", doubt If spectators IN real estate
in the long run make more money than any
other class Of Spectators, while the effect
upon The public welfare OF real estate rpecu'
latons Is more prcjudicial aud permanent
than that Of any other kind Of speculation
whatever. II has tendency TO check the
growth Of a city; aud divcrta large popula-
ton 10 Other places, which would otherwise
bc sure to fnj ite way here for spectators
in real estate, like all other operators for q
risc, never know when they have reached
tn stopping point, and they aim at such ca
orbtant prices that they put M end to the
demand for their commodity. Great as the
growth Of this city has been tor the last ten
years, 1t would no doubt have been much
larger but for the spectators In lots, who
have driven thousands Of business men across
the river to Brooklyn, to jersey City. West
CHESTER and the railroad aud river towns
within thirty or forty miles Of Wall street.
So far as the revival IN real estate betokeDs
a return of confidence on the part OF our
capitalists, and general resumption OF bus
iness, the movement ID II most encouraging
One, aud TO be regarded with satisfaction
bn. there has been an evident attempt "
stimulate speculation and create on unuatn-
raj excitement, by exaggerated reports Of
immense fortunes realized by the purchase Of
city lots, which wears anything bat = healthy
and prosperous aspect. A correspondent
scnda us an exceedingly glowing account Of
the presnt prospect Of real estate specula-
tion, and insiss that "at no time during the
past seventy years have there been 30 many
elem, D,s at work calculated to produce an
immense rise 10 real estate" II may be 30.
bu, the only elements that can cause a rise
oi real estate on this Island are increase oi
population, an efficient and economical City
Goyenmeni, and the general revival Of trade
in all the departments Of bnsibeas. Every
in.flligen, capitalist ia competen, 70 decide
for himself shat the chances Of thssc elements
working together are. and will act accord
ingly.