New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-03-23
REDUCTION IN CITY RENTS.

| FURTHER FALL IN REAL ESTATE VALUES.
A STEADY DECLINE IN PRICES FOR RENT AND SALE
DURING THE LAST FIVE YgARs-sMALL HOUSES
NOW IN GREAT DEMAND At CHEAP RENTs-EF-
feet OF RAPID TRANSIT ON UPTOWN PROPERTY.
Real estate dealers, as rule, declare that the
market for city property has seldom been duller
than now. Residence rents have fallen off 33ls per
cent since 1873 and rents of stores and Offices from
20 to 40 per cent. Sales for investment reported
to be increasing, and better market is anticipated
HOUSES OFFERED AT LOW PRICES.
| A GENERAL SURVEY OF THE HOUSE HUNTERS FIELD
The CAUSE OF THE PRESENT DEPRESSION IN
PRICES.
The question whether to move or not to
| move already beginning to the sonls OF New
York tenants and tho real estate agent Is daily be-
eaguercd by feminine seekers after ideal mansons.
Agents declare small pttance OF real bust
great amount of inquiry and general discussion
They that prices both for sales and rentals Of city
residence property have reached The last ditch and thy
draw comfort and hope Of better times from present
stagnatoD. In the opinion OF many large dealers, r~ns
of residences in the best portions Of the city have fallen
off 3 per during the last five years, and in other
portions from 40 10 80 per Rents Of business
have remained more firm, but still in these the
ducon has been from 20 to 40 per cent according 10
location In prices Of real estate the decline il vaoasy
estimated at from IS to 80 per cent
Small houses reported by all dealers be in
demand at prices which show only slight falling of
from those of last year. These houses rent at from
900 to 81 800 year In good residence portions OF the
CITY, and they sought by those who have been
tened pay from 81 coo to g, 500 For houses
that last year rented ut from 81 200 TO 81 500
the reduction has not been than 500, while Ia
large number Of have refused to make
this concession and tenants have engaged such houses
at the old rates, and readily too II extremely
difficult to houses this for than
SO 900 year. This to be the maximum above
which tenants will not save in few cases which do
affect the general Those who able to paw
higher show disposition to invest in good resi-
dencc property and thus homes, IL Is the gen
er impression that prices cannot fall lower than they
at present One thing that maintains the market
high-pIiced houses is the great demand for large
houses by those who take b0arders rent furnished
TO this class spacious rooms are necessity as
the apartments IN small houses-Darr0w shallow and
limited In nr,mbcr-xOuld be useless TO them There lie
10 falling of in the number of boarding -houscs-in
fact II any thing there has been increase in this
spcct.
several years agOsay IN 1SI3bcf0re the marked de-
cline in prices began houses which IL is ionnd hard
dispose of al So 600 year, rented readily at $500.
house when then brought 80, 800 be obt iincd to-
day from 900 TO $500; iwhIe the S30o0housc
OF that time awaits tenant at $1,000. compar
son between the Of good residence property ia
1873 and 1873 shows general decline of 333 per cent.
The following table gives, a glance the sliding scale
a. urfce fort three