The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-05-31

At the moment when this real es-
tate and building edition OF n e.
Jeur q i pnRlishsd th .sr real esz
ly declared to be "quiet." This usual
ly means, in the mind Of the man who
uses the word, that he has recently
made no striking sales or not great
many sales. It is generally agreed
that inquiries for property We're never
more numerous or more genuine, that
the prospects for numerous sales this
summer are very good, and that
stiffening in values Is one of the most
likely things which the near future
may bring forth.
Many things combine to create pres
ent conditions and opinions among
real estate men. One of the most i'm
portant facts in the situation, and one
that is evidence of the best kind, is
that the volume Of building in Min
neapolis is very large. Last year, IN
fact, it nearly reached the high water
mark of the late SOS when $7,000,000
or $8,0OO,OOO was a common figure as
the aggregate of yearly improvements.
Last year nearly $S,000,000 was ex-
pended in Minneapolis for buildings
and from the way in which the totals
of the building permits this year are
footing UP 1904 WIZ eclipse 1908. In
fact it is generally understood that
only serious labor troubles could pre-
vent this result.
But even more important than the
mere volume of building operations is
the character of the structures
erected. There is tremendous home
building movement on. Last year saw
more dwellings erected in Minneapolis
than in any other year Of the city's
history. It is notable too, that many
of these homes are being put up by
wage earners and wage earners of the
smaller type.
Two lessons are to be drawn from
this condition of affairs. One the
great growth of population which is
forcing the erection of homes for the
people,; the other that Minneapolis
lots can be bought and dwellings
erected at prices which are attractive
to homeseekers.
These two facts in themselves are
enough to make real estate a very
lively commodity this year.
| But there are other influences in
| the market. The business investor is
present, making careful purchases to
| hold as investments or for immediate
improvement. These men are shrewd
buyers and it is their general conclu-
sion that Minneapolis business and
residence property is a good buy al
present prices, that it Is bound to
| make IldL0rldI duNdllCeS al value IL
the future. Some of these buyers will
build this year or next year or as soor
as circumstances may require.
| Another interesting influence which
receives little attention is the very
large expenditures which are being
made in the city for a wide range o:
purposes. Besides the nearly $4,000,
900 annually now going into build
ings, there are vast sums being dis
bursed for PUBLIC Improvements TIL.
amounts for paving, new waite,
mains sewer work, sidewalks, grading
park Improvement and the like. 4
large amount is being expended an
nually by the railroads for work OF
terminal improvements; the stree
railway company is investing largel,
4 in new facilities and the gas compan.
is making extensions which will reacl
this year alone some twenty-five mile
in aggregate of new mains. All thes
things mean wages for Minneapoli
workers and trade for Minneapoli
business men. Indirectly they have
/ forceful effect upon real estate condi
! tions, for they contribute to the. gen
| eral prosperity of the city.
But after all these things are sal
the real basis for present condition
and prospects is found in the genera
i soundness Of the entire northwest
Minneapolis is the chief market 70
they send their products and froI
4 Minneapolis they draw their supplies
d If they are prosperous Minneapoli
3 prospers. Experts generally agre
u that no part of the country is in bette
4 condition than the northwest. It
products are of character whic
lordinarily command the best prices