Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-10-29
TELEPHONES
HOUSES TO LIVE IN.

We do not trink Mir. BlauVeiI is IiS4'
lr his contention that real estate here is
held at ''prohibitive prices. but II Is q
fact, we believe that Richmond has not
enough dwellings to house its population
comfortably. Nor does the amount OF
BUILDING going on now-great as it is
promise early relief from this disagree
able predicament. Inquiries are constant
ly being made for an explanation of this
condition of affairs: but in our opinion
that explanation is not difficult to find.
For eight or ten years preceding the
revival of business which we are still en-
loving. real estate was "a drug in the
market here 1t L mt pay! Tenants
were hard to find. and when nd they
demanded and secured very low rents.
What was the result? Why, the real
estate investor found himself getting
poorer. while his ne!rhbors and friends
who had invested in certain bonds and
stocks that are favorites here got rich
and richer.
That condition of things disguised man.
capitalists and that disgust has not en-
tirely worn off yet.
And then some capitalists who really
mean to put their money in houses ano
lots here arc waiting Cor the prices Of
vacant lots and of building material to
go down But 1t seems to us that they
are taking perverted view and that il
they haven't the pluck to build now w1er
the markets-and reats-are rising, it Is
unlikely they will do so when the markets
are declining. They should know. too.
that what are called high prices of ma
Serial and labor prevail not only in Rich
mond, but throughout the country.
Though there is much house-buildins
going on here at this time more is needed
If we would take advantage of the in
1ustrial opportunities before us.
We are convinced that dwellings of
moderate size built with due economy.
but not after the manner Of fire traps"
will prove to be profitable investments
for many years to come We believe, too
that il some Of our very rich men who ar,
puhlIc-spirited would sit down and think
over this matter calmly they would come
TO the conclusion that it is their duty to
lrelp supply the demand for houses. no
matter whether the prospective yield of
the investment is little or big!
Furthermore, many OF our mechanics
and clerks are making good wages and
saving part. Now. if 1t could possibly be
arranged so that these could borrow the
money they need at very, very low rate
Of interest payable in instalments, an in.
nense impulse would be given to house
building in Richmond and her suburbs.
The annexation OF our suburbs still re-
mains q question of great moment II
will be year or two, or more may be,
before it can be solved. The new Consti-
tution will permit no special law to ue
passed on the subject. And 1t IS neces-
sary that the Legislature should act
first pass law governing all cities and
prescribing how their limits may be ex-
tended or contracted.
It may be that the forthcoming law vii!
require the assent Of the suburbantes te
be given at the polls before such suburbs
can be annexed. If so, then 1t will remain,
to be seen whether Richmond. as a cor
poration. can offer the suburbanites in
eucements sufficient to persuade them tc
tete aye.
Meanwhile more dwelling houses are
needed here-badly needed-and without
hem our city will suffer