Evening star. [volume] (Washington, D.C.) 1854-1972, 1884-10-04
TEE DEMAND FOE sMAYE HOUSES.
People Who Want Hromes at a Meder.
ate Rental.

THE VIEWS OF SOME OF THE REAL ESTATE MEN
AS TO THE SUPPLY AND DEMAND FOR HOUSES
MORE HOUSES NEEDED TO MEET THE WANTS
OF 4 GROWING POPULATION.
The demand for additional houses. which the
increasing population of this city has created
has been the feature of the real estate market
during the past year and a half This gave the
impetus to building last year and resulted in
the erection Oh larger number of houses than
in any previous year, with the exception, per-
haps, of the periods Of abnormal activity which
has marked the history of the growth of the
capital city. During the present year. while
building operations have not reached the pro-
portions oflast year. as far at least az the num-
Der of houses erected are concerned. still there
have been great many new houses built, and
/ as the building inspector showed in his report.
the total amount expended was in excess of
last year. The fact that building is still going
on in all parts of the city is an evidence that
the supply is not yet equal to the demand.
Real estate men say that they have no diff
Guilty in renting houses.
You can gain some idea Of the demand for
houses, said one of these gentlemen to q STAR
reporter. by examining my list of houses tor
rent, and | think that the same would be true
of any real estate agent I'm this city, If YOU OBJ
serve" he continued, taking I'D a printed slim
my list OF houses is not an extensive one.
have no great variety from which customers can
select. The fact is house eligibly situated is
taken as soon az it is empty There is good.
steady demand now for houses renting from SoO
to $40, and the supply is not equal to this de-
mand."
WHY MORE HOUSES ARE NEEDED.
There have been large number OF houses
erected here recently" suggested the reporter.
81 know that, replied the agent. ''but you
should remember that this city is growing all
the time. New residents are coming in and
homes must be provided tor them. Besides
times have been good and people have money.
and instead of crOwding together in rooms
they spread out in separate houses. So YOU
see this pressure upon our home accOmmOda.
tons is not only from without. but from
within"
There is always an nfallible sign" he con-
tinued, las to whether building operations
have been carried on in excess of the demand
in the return which such investments make
upon the capital invested. l suppose that there
is no city in the country where money invested
in real estate pays as largely as it does In this
city, Rents are higher then they are in Balti-
more. because think that there are more houses
to be had in Baltimore, in proportion OF course,
to the population"
Another dealer when asked if the demand for
small houses of moderate rental was as great as
last year said:
MY experience ~ tiidt tHeTe are not enOn9h
small houses in this city. The other dav a
| small house that 1 had in my charge became
vacant, and the very day the tenant moved ont
| had applications from three persons who
wanted to rent it." Al.
ANOTHER VIEW OF THE SITUATION.
Another dealer, when asked the same ques-
tion, said:
"The demand is not so great as it was last
year, because, think, We are experiencing the
usual effect of presidential election year, and
people are holding back until they know the re-
suit Of the elections. 1 think, also. that there
| are too many small houses being put up now,
and there Is danger OF OVERRIDING the business "
gentleman who has during the present
year built about sixty houses, each Containing
seven rooms, in different parts Of the city, told
STAR reporter that most Of his houses were
rented before the josts of the first story were In
place. He said that he had rented all he had
completed. and thought that he could find ten
ants for good many more ii he had the money
TO continue building.
A large number OF the small houses that have
recently been built are rented for $50 and S25.
and it is this kind of house that seems to be in
great demand.