The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-18
GIVE US MORE HOUSES.

GIVE US MORE HOUSES.
One uniform demand comes from
every section and from every interest
in this city. We want more houses.
The rental agencies clamor for them.
They tell the sorrowful house hunter
that he may have to wait for months
before they can secure just what he
wants. The people who are coming or
future home, and they are numbered
now by many thousands every year,
beg for shelter and the comforts of life.
The worl1ingman, all the people of very
modest income, who are the bone and
sinew and great resource of every
community, ask for houses within the
reach of their resources. Speaking be-
fore the Associated Charities, the sec
rotary said that every effort should be
made to meet this demand. More small
houses which are within the reach of
the artisan and the laborer are the
IACSd VI lllS AOuT.
It is too late this year to remedy
the need. We cannot build the houses
that are needed before severe winter
weather puts practical stop to build
ing operations. But we. can plan for
next year; and there should be sys-
tematic campaign among those inter-
ested in the cftys future for house
buildings. Investors should be encour-
aged, entreated and urged to accept
this opportunity. Plots Of ground
should be acquired, plans perfected,
contracts let and all the preliminaries
arranged, so that with the coming of
spring literally thousands of new
houses may be erected in st. Paul. We
need all Of them that we can get. Rents
are exorbitant, and at the same time
there are people anxious to make
homes as soon as houses are ready for
them.
It is absurd to talk, as some people
do, about this form of investment being
-
relatively unproductive. 1t is not true.
Money invested in houses to be rented
does not bring in a speculative return,
because it is not a speculative ven
ture. 1t is the safest investment on
earth. Real estate will remain there,
buildings will stand, and the property
continue ipooroa hripo;p,r +I,ro,,c-l-<~ro-5
times and through bad. To the owner
comes, likewise, the increment in value
which, il he has bought wisely, will
always balance or exceed deterioration
in the buildings. The owner will not
get suddenly rich, but he will have a
dependable income, and nothing on
earth can impair the security of his
investment.
When people talk about its not pay
ing to build houses, they mean that you
can no longer net 20 per cent or even
Is per cent, unless in exceptional cases.
out of such investment. But when it
comes to being sure Of from to per
cent net, which IS better than you can
do in buying almost any other standard
security today there is nothing to beat
improved real estate.
Let US have Aouses. Conservative
capitalists, Who sare alarmed by the
tendencies of#thes market and shocked
by the collapse OF industrfa1s NAV see
here secure Occupation for their
funds. Let them put their money into
the building of small houses, moderate
sized houses and fiat buildings in ST
Paul. There is at present no danger
Of outrunning the demand, and rents
can fall below their present point to the
great benefit of the city, and without
depriVing capital Of a fair return.
Financially, economically and in the in
terest of municipal progress, there Is
nothing more to be desired than a sea-
son Of liberal house building in St
Paul.