New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-08
THE DEADLOCK IN REAL EST4TE.
TAMMANY's VICTORY DOES NOT IMPROVE THE
MARKET.

TAMMANY's VICTORY DOES NOT IMPROVE THE
MARKET.
| The real estate market has shown some improve
ment in the last week. but the gain has been far below
expectations. The testimony OF most dealers favors
the idea that the underlying cause for the dulncss
which prevails is the eXtravagent price which most
holders ask for their property
The market Is In a. sort OF deadlock and the political
developments OF the week have not been encouraging
to investors. The triumph secured by Tamnany Hall
has caused discussion Of possible manipulatonS OF
realty which dishearcus investors who are looking for
an honest and able administration of city affairs
vitality connected with tie property possibilities OF
New York. Real estate holders who are favored by
Tammany Hall may possible advantage In GER
tain investments but the buyers who make the lcGtl
mate demand that gives life 10 real estate transac
tons are chilled by the political possibilities which
come on the heels OF tighter money market and the
long sustained idea that values held eX
tIavagant level
The number Of cOnveyances last week 500 in
voIvng s5o07 100 against 1885, involving 5000 $40
In $780, and 374. involving ~ ,e57,757 III 1855. Tho
number OF mortgages recorded 259, involving
80, 51I $50; against 338. involving $5,233,c64 In
1880, and 361 involving ii ,656,l3i in 1850. There
were only thirty buildings projected, at estimated
cost OF 200, compared with thirty hree at cost
of 81 ,e16,4OO in 1880, and forty-fve at cost OF
$717,275 In 1859. The Record and Guide" makes
the following observations upon the market:
The quiet real estat market is to practically
every district of NewYork and IL is ascribed nearly
everywhe no to high prices which prohibit ready aud
prudent buyers from purcha, ng, and altogether dis
courage the general investor In many OF the oftc
tbs week matters have been quiet as during mid
summer and II IS not all explained by the fact that
election day broke In upon the continuous work that
going Those very closely interested ard related
~ the real estate market and many Of them are owners,
very generally lay the blame of this state Of affairs
the high prices that has been repeatedly pointed
out In this column. have prevailed for about year.
Ii may be hard for owners To accept this fact and lis
present Indications worth anything, and IL they
desire TO dispose of their holdings
And yet, Notwithstanding ali that has been said
about prices, notwithstanding the market almost OF
stagnat.on that have had for year. owners,
except In isolated cnses, show no inclination 70 make
concessions. On the other hand. many OF them appear
TO be rmer than and even talk OF increasing their
figures for the Spring market that the taxes havo
been paid. The country. they say, Is prosperous,
merchants and others will have reaped large profits
from their transactions by the spring and much Of this
surplus they point out will find It's INTO real estate
This Is largely but IL must be remembered that in
q time Of healthy and legitimate business. though
large profits being made, investors look closely
at incomes and other factors In valueS before placing
their capital Present holders should remember this.
and they should ask only figures that strongly and
truly supported by income. location other advan-
tages. II Is this showing OF fine income on paper
only that has dscreded real estate In times past and
it will Just when real estate is favorsby
regarded by investors to repeat the offence.