The Minneapolis journal., 1904-12-31
XEAR MARKED BY
tSAZES AND GROWTH
The Building Permits Aggregated Nearly Segeu Millions
PHASES of the Years Bhsiuess-Su,b,isimg Ten
deuCes OF Zuyestntent- General Re0ieav of the Year:

TN THE real estate world 1904 has been year of
i hope; it has naturally been a year Of solid fill
ing out rather than of territorial expansion; year
of investment rather than of speculation of
surprises.
For the first time since the "boom' of score
of years past whose taint still posons the crculatory
system of the market there has been persistent hope
for the future. This hope is definite has been
the Of hopelessness for years past. Property
owners are Tightening up and are buckling them
selves for the advance in prices which they expect
will come next 1t is not easy to get man
to let go his property for nominal sum Just to get
rid of taxes and repairs Snaps are a thing of the
past Weared owners had been letting go by
because of anemic conditions in the market,
able to pay interest, and expenses. Foreclos
rampant, and semblance of panic pre-
vailed.
= The stifening has come and people are buy;
ing property because they want it. Transfers fled
with the register of deeds are longer for the ma
jor part sheriff s deeds executions in mortgage
foreclosures. Complaining money loaners not re-
Pning because they have had to take up the sec4rl
gan give orders the first Of the to their agents
to "hold on.' Minneapolis began to be looked upon
as a good place for investment and the reaction has
set in. So of this some agents that they adj
wise their clients not to sela bad thing for the mar
ket, but probably for the financial good OF their Gil
ents.
Residence Sections Filling Up.
Diagnosis by experts has shown that cause
for depression of the realty market has been the great
land area Of the city-ffty-fve square miles-big
enough to include New York, Paris Minneap-
oils has been surfeited with vacant property. AS
result of the Of the supply the demand,
property dirt cheap and the population was scat
tered the four quarters with long distances between
settlements This has been year of filing Flesh IS
being taken the bones of the municipality and
the city has begun in 1904 to assume the fattening
proportions which indicate prosperity. Few additions
have been plated and the limits of the city have
not been extended. '~'
Investing in Homes,
Investment for home purposes has been mark
ing feature of the closing year. Investment for IN
vestment's sake has not been marked as In 1903.
Mcknight company has kept putting surplus in
real estate but with the decrease in the frequency OF
"snaps' the majority Of the big buyers have quit
Some of them are satisfied with suficency OF hold
ings and more have turned their attention to other
forms Of laying away money Mr.. Mcknight has con-
sdered of properties offered for sale but has
restricted his purchases to few of the best seec-
tions.
The general investment Of money has been in small
amounts Men who satisfied with lots costing
81 900 and less and with building houses which cost
$3 500 and less been in the majority In buying
and building No light stress is laid this sort of
buying by the agents, however, They appreciate the
value to the city of home for every worklngman
who has the money to invest and have made spe
cal efforts to attract this sort of business. Additions
already plated been brought within the reach
of small pocketbooks very low TERMS with very
light payments and low interest. AS an inducement
also it has been argued to them that values will dou
BILE in short time and thus the promoters have often