New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-02-22
WHAT INFLUENCES OPERATE on RENTS,

WHAT INFLUENCES OPERATE ON RENTsi
Rents cities, according 10 one OF the lundAeh~I
laws of political economy depend upon the relation of
the demand and the supply. BY demand we mean the
demand OF those persons who are able aud willing to pay
the prices asked II Is evident that the wishes Of those
unable OF unwilling hire houses Of certain class at
established rates have no influence on the rent OF mat
class so long there sufficient number OF persons WIZ
ling to hire AT landlords prices II there s hot Ihcle
demand from such persons the landOrd oNers MS RATE
and thus enargos the demand Every one must haNe
some lodging place OF 1Inef anu 20 demand or pae
10 live in Increase IN the wealth Of community y accom-
panied by demand for better places 10 i've In In Anne
lea every family that Is able to viii have mouse "
and, generally speaking as good house ne ~ can anvIG
ON inc othe n.ng 10 cos . g, bn,nr r.man the SANE
new houses viii be built the supply 81 houses WIN 90 l
creased, and the Increase ~ REM VIII De @ U
increasing and the supply OF land Falhpe anu
convenient for residences 10 Limited and eohStanty
diminishing. Rents and the prices of vacant iots are
therefore, constantly Roiug higher IN seeking an
answer TO the question whether they arc ~
the present time too high or too low, We
have presented ito complicated problem, In which
increase In wealth and population OF tho ey ana ts
supply of houses, aud OF building lots a. ahects tn
supply, enter qualities whoso true value can De onJ
approximately determined Is nc wealth OF tne GU! il
ceasinRi We mean tho average wealth on ismes' iU'
the possessions Of al Astor. Stewart or Nhnierbah
for II the former only which mas any creepD,e fneo
have been SO enormous In NewYoTk OF late years That
But our people are eItravagan. In tho matter
OF house rent as well as IN other things
Of economical habits In that respect We believe that
the number OF persons who either able tnk they
creased at lis usual rate Whether the wealth the city
DO Increasing not II is indputabo thar the effective
demand for houses has not diminished. is the popua
ton Of the city Increasing The answer 20 this question:
far affects the subject IN hand, is given above
We remark incidentally that have already chronced
an Increase within tue last eighteen months OF
tho monthly rent OF rooms Ia tenement houses.
10 answer that relating 20 the land available for build
ing purposes II may judge nom the prices obtained
men that the supply Of lots is rapidly diminishing In
this opinion DO not share There yet vast amount
Ne Jersey towns, and in Westcester County, which
ought TO compete for years 10 with tots l5oth
ty OF the CITY Hail. and with the existing means OF
nuncation not difficult to get from that point
Of the city proper Improved means OF communication
least aslkely 10 come in the shape OF an East
New-York, as In that OF an underground railroad.
which would alleviate the difficulty o. the journey
whether The dealers in real estate are right
wrong, the pres4 effect OF the high prices Of lots
were exorbitau ne houses would be built and the sup
ply would be increased until prices fell 10 their normal
house whether II Is bult lot which costs s30J or
which costs $4,000. II lots In that portion OF the
city In which building IL most active rise from 1900 20
$4,000, other things being equal, building viii receive
check. and sooner later rents win go up Even In
for the Inhabitants OF this metropolis Is limited, and so
long tue metropolis continues prosperous, the price of
the price OF land III that particular portion OF the me-
ropOs known the city of New-iOrk increases more
rapidly than does In brooklyn Jersey CITY,
rents will follow, aud the populations Of Brook
lyn and J<sey City VIII receive a large share
Of that Increase which, IN other circumstances,
would fall 10 New-YOrk. THIS is the state Of tningt
which witness. Either the prices Of up
town lots inflated either the aggregate which
actual aud woudbe hOnsehOlders Of the city vii
ling pay for homes has not increased at It's usual rate
the landlords justified In a-ng increase OF rent
We have assumed from the beginning that the new
houses built last year. hot sufficient 20 accommodate
the increased demand for the whole city they do
not equal IN number those put up In u single Brooklyn
ward