The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-02

Real Estate-Hentss
Few subjects are more discussed at TINS
time by the people Of the city than the ever
present ones Of house and home. For nine
months of the year it is mostly home for
the three months that precede the LIST OF
May it is strictly house and the subject
thus restricted is one that leaves no hour
altogether free Of anxiety and inquiry to
heads Of families. Shall they stay where
they are for yet another year and endure the
ills they have rather than tempt fortune by
venturing upon the unknown ills that are snre
to be encountered around the corner? Shall
they accept the moderate reduction to which
the landlord assents and yield their more
extreme demands on that head? How can
they most gracefully shorten sail on this
point and 60 out of the grand house they
have lived in to smaller one and cheaper
rent without the air of defeat? These are
difficult points, but they must BIO met.
Our report in another column exhibits that
the number of houses to let at the present
time is considerably greater than was the
number to let at this time last year but the
largo agents, who may properly be regarded
as class Of experts on topics of this nature,
take view of this fac. which dcprives il OF
any significance that might be deemed
threatening in the real estate market They
regard it as an indication only Of 8 present
want OF agreement On terms between land.
lords and tenants in actual occupation |; a
general result Of colloquies between the Two
which are terminated by defiant ceciara-
ton on the par. Of tho tenant that the land
lord can .spUt bill; on the house" Natu-
rally there are map5 such conversations
every year, and there nrs always great
many more hous.s to let than there are ac-
tual removals. Quite AS naturally, in view
of the hard times, there have been this year
many more conversations of this sort than is
common, and the larger number of houses
with bills on or in the hands Of agents is the
consequence of this fact.
Bnt as the 1st of May comes nearer and
nearer landlords and tenants who stood on
absolutely inconsistent platforms in Febru-
airy and March mutually melt under the in
hucnce of the April cir and compromising
spirit. Tenants who on the quarter day
stood out for a reduction Of twenty-five per
cent relent little as they see the number of
people who want lust such house, and
the landlord who was not sure but rents
should 60 up, because moderate sized
houses are greatly called for" is not alto
gether satisfied with the applications. So
they come together; reduction Of ten per
cent is agreed upon; the bill is taken down,
and the family remains. 1t is thought that
this is the real explanation, and will be the
result of the fact that nm excess of houses to
rent is in the market. Some general reduc-
ton in rents seems likely to be q necessary
consequence of the movement toward "hard-
pan y but opinions seem equally clear that
it will be slight one.
In fact, our people seem destined to liqui-
date the imitation Of rents by another pro-
cess than the general reduction Of figures.
People will mostly get smaller rents by get
ting into smaller houses. Inevitably, there
fore, there will be movement toward houses
Of moderate size but many people in this
class of houses will>go into apartments, and
of thess movements the first will neutralize
the other SO far as to prevent considerable
fall. For larger houses the reduction will be
greater. But the demand for houses here,
in view of the necessary limit of supply,
will prevent any great decrease even at this
point, especially in time so likely as the
centennial year to inspire social activities.