The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-26

down. town district. which have been
vacant for years because of the figure
a which they have been held have
changed hands this spring, and as a
result ground is now being broken or
preparations made for the erection of
many large and commodious buildings
10 be used as homes for wholesale and
Jobbing houses which have outgrown
their present quarters. The purchasers
OF this class Of property paid more for
the property acquired than it would
have cost them few months ago, but
the time had come when it was nee
essary for many of them to secure
larger quarters without delay, and the
advanced price was willingly paid
Hundreds of thousands of dollars will
be expended in building upon this class
or property during the coming sum-
mer, the work in many cases having
already been commenced.
West Side Booming.
Another location which has enjoyed
marked activity and advance in prices
is the West side, where much property
has changed hands this spring. The
purchasers of this property, to a large
extent, are the Great Western and Rock
Island railroad companies, both of
Whlch contemplate many improvements
IN that section of the city. Aside from
the purchases on the West side by
these railroad companies, many small
but growing manufacturing concerns
have invested in property on the West
side, where they expect to erect plants
suitable to their demands. Some Of
those companies come from out Of the
city, and many are small firms whose
growing business. demands larger quar-
terS.
Real estate prices, on the average.
are from 10 to 25 per cent higher than.
Tor several years past, but the present
prices yet lack much Of being inflated.
and every piece of property bought
this year is considered by the brokers
10 pc good, permanent investment
A great many dealers anticipate still
higher prices next year. and as a re-
suit much of the choice property now
offered for sale is being picked up. Ell
Their by legitimate investors or by far
sighted persons who consider it a good
investment.
The usual increase in the price of
rents and the scarcity of houses at al
most any price is responsible for the
increase of value of city real estate.
Rather than pay the high rents de-
manded, many people are preparing to
purchase property and build homes of
their own, and, according to the brok-
ers, 1t would be surprising to learn
how many Of these laboring people
nave the ready cash with which to pay
Tor the property purchased by them.
The Renter in Trouble.
But 1t Is the man who is compelled
10 rent that is having the most trou-
bles these days. Rents for all classes
or houses have been increasing stead
lily since the first of the year, and in
many localities farther advances will
be made on May /, which is moving
day with great many people in ST
Paul. Hundreds of occupants of rent
ed houses, whose leases expire May
l, have already received notice Of an
increase in the rent, should they de-
sire TO renew their leases for another
year.
rms is especially true out in Merriam
Park, where rents generally will be
advanced on May 1 from Is to 25 per
cent. The tenants of houses in this
suburb, which is rapidly becoming
more popular, have already been serv-
ed with notices to this effect, and those
who cannot pay the increased price
are requested to be ready to move
as soon as their present lease expires.
The Park has become a very popular
place in which to live. and this fact
has become recognized to a Nreater
extent during the past year than ever
before: The owners of rentable prop
erty have taken advantage of this
fact, and at a meeting held recently
they decided to raise prices of all
classes of property. The result is that
a few people will be compelled to look
for other houses while those who can
afford to do so will see the raise
Another result is that some of these
people, those who have the means, are
buying their own homes in this flour
ishing suburb.
House Famine a Reality.
But the situation in Merriam Park
Is no different than that which con-
fronts renters in all other parts of the
city. The house famine which has
threatened for some weeks is now a