The age-herald., 1901-08-21
Some Real Estate Agents Claim
 That It Is
FAMILIES DRIVEN FROM CITY
Argued That Law of Supply and De- mand Regulates Rentals and Houses Are Very scarce-New
 Ones Going Up.

Some of l.-e real estate agents of Bir- mingham do not agree with the editorial in the Aae-Herald Sunday on the high rent question. Others support the claim that the exhorbitant rents are driving families away from the city.
 The question was brought up by the statement that number of railroad men were moving away from Birmingham be- cause they found cheaper living else where. The matter of railroad crews moving away from the city was placed in the hands of joint committee of the Commercial Club and the Board of Trade to investigate. The railroads claimed that crews were only being transferred where 1t was necessary and other crews were constantly being brought in, mak- ing 1t six of one and half dozen of the other.
 In connection with this investigation 1t was brought out that the railroad men themselves wanted to move away. They liked to live in Birmingham, but could not stand the high rent. Railroad engin> N~NS month. Take 100 of such wage earner'- away from the city and the loss will / felt.
 Much comment has been created among the real estate men. One man takes the position that the Age-Herald placed the rental figures two high; another says the law of supply and demand must reg ulate prices. and another says the Age Herald Is correct. Some of the agents claim that property owners demand more than 15 per cent on their invest ments.
 Was Not Strong Enough.
 MT. Hill, of Hill & Scott, stated that many of the owners wanted too much for their property. He said:
 T do not think the Age-Herald was strong enough. Why, many persons wont more than 15 per cent net. They want the earth, and I am glad to say that many new houses are being erected. so that soon they will be forced to reduce their demands"
 Says Editorial Is Radical.
 W. B. Leedy, of the firm of W. B. Leedy and Company, said:
 'I am of the opinion that the position assumed by the Age-Herald was too radi- cal and not borne out by thorough ex- animation of the facts. It stated the po sition of some owners, possibly, but 1t Is my experience that the owners of frame houses are glad to get 10 per cent net on their investment. I know our books would not average more than this amount. On 5000 house on an equal priced lot we are glad to get s2O per month as rental. But such are scarce"
 The statement made by w. N. Malone and Company was on identical lines with that of Leedy and Company. Yancey and Orr also took this position.
 Supply and Demand.
 T. H. Motion argued the supply and de- mand theory. He said:
 ''The whole question of rents Is simply that of supply and demand. At presen, we cannot supply the demand for places. Consequently rent Is to an extent high. Possibly within a few months there will be an over-supply of houses. Then there will come a reduction in present rentals. There is nothing more to the question.
 'tMany new houses are being built now and I look for an over-supply within a short time. know of good, new 4-room houses with water, bath and kitchen that are renting for s2O. So It's incorrect to state people are being driven from Birmingham because of rents."