Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1888-10-18
TINS REAL ESTATE mAHKxr.
foor Prices Prevail but ahs OutlooI
IN Enc0uragans,

aNaa
me rell estAtr market In this city is at
present Ia a very depressed condition and
prices are very low. There Is no apparent
Ieahon tor thi3 state OF AFFAIRS except that
tnere 10 no demand. Ronts are about the
same as they have been for several years
past, ana the real estate agents report very
ieW houses for rent aud only the usual
amount Tor sale. Still, improved proper.
lle5 nave not been lower for several years,
illd sellers are waiting for better things
next spring. There 10 q general feeling that
me spring wilt open more buoyantiy.
houses now are not plentiful and many
VIII pc required next year to Bupply tho
natural demand as building this year has
oesn below the average and much short of
what was expected. For the flrst nine
months OF 1883, only 273 buildings were
erected Us compared to 8G7 IN 1887 for the
corresponding time; 22s in 1856; ait In
1884; 1884 In 1885; 6Sl In 1883.
This season opened well. There were
fnmors OF number Of big contracts but
all this was nipped In the bud by the strikes
among the building trades. This affected
building operations up to June. Since that
time, the dulness In building has been as
noticeable as unexplainRbie. w. H, Foulk
thinks that Il Ia caused by the coming Pres.
identtel election. The statistics, however,
DO not prove that there Is less building In
PRESIDENTIAL years than IN those immedi-
ately preceding or following, excepting the
last election. Then the building operations
during 1888 numbered 800, while In 1884. a
PRESIDENTIAL year, they fell to 1913. In 1885,
hey fell still lower to 275, and only ross to
292 10 1855. Last year they jumped to 1872
hnd THIS year they promise to be 100 short
Of these figures.
The statistics from 1871 rather chow that
there are waves OF prosperity and depres-
sion In building operations as we'll as In
other lines OF business. For the three years
beginning In 1871, from which date the
building records begin, permits were issued
for ,2l4 building operations about evenly
divided between the three years. Then
when the panic came, the number OF new
buildings dropped from 4S6 In 1878 to 210
In 1874. For the ak years from 1919 in
elusive. only $3.50 building operations were
undertaken little more than half OF the
total for the previous three years. When
business began TO revive In 1880, the build
Ing trade Immediately felt Its effects and
operations Jumped from 1850 In 1879 to 49l
In 1880 aud 604 In 1881. In the four years
from 1903 inclusive, 2,317 permits were
previous sig years. The building trades felt
the impulse OF returning prosperity, and
long otter the natural demand was supplied
houses kept going up, resulting in an over
supply. There was sudden dropping of
In 1884 for this reason and building opera
lions for the past four years have KEPT
within the bare demand.
According to this evolution and judging
from all other signs, building will take /
healthy boom In the spring. One necessar,
stimulus, however, is lacking. Although
Ii Is u fact, that all OF the local industrie
are busy, prosperous and constantly enlarg
ing their plants. 1t is also pertinent tina
very few new industries are being estab
lished here. There must be reason 10
this and 1t would be well for the Board o
Trade or others interested to investigate
The tax on manufacturers Ia one Of tbes
causes. While 1t brings much revenue int
the state treasury which is not needed, |
undoubtedly prevents the investment Q
thousands OF dollars OF capital seeking 81
outlet. Besides. there Is lack OF enter
prise shown In trying to induce new con
Germs or those desiring to change thei
locations, to settle here. The Board Q
Trades forthcoming book is the first seriou
attempt TO properly advertise Wilmingto
and make Its facilities and advantage
known to the business world.