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

At the moment when tnlS real eS-
tate and building edition Of he
Jour al is published the real es-
tate. market IN nj ififfeapoifs is generals
ly means in the mind Of the man VINO
uses the word, that he has recently
made no striking sales or not great
many sales. It is generally agreed
that inquiries for property were never
more numerous or more genuine, Lnat
the prospects for numerous sales TINS
summer are very good, and that
stiffening in values is one of the most
likely things which the near future
may bring forth. y
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
fact it nearly reached the high water
mark of the late SOS when $7,0O0,OOO
or $S,OOO,0O0 was common figure as
the aggregate Of yearly improvements.
Last year nearly $8,0O0,000 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 will eclipse 1903. 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 a 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 fr
the market. The business investor Is
present, making careful purchases te
hold as investments or for immediate
Improvement. These men are shrewc
| buyers and it is their general conclu.
sion that Minneapolis business ant
residence property is a good buy" a
present prices, that it is bound tx
make material advances in value II
the future. Some of these buyers viii
build this year or next year or as soo1
as circumstances may require.
Another interesting influence which
receives little attention is the yer.
large expenditures which are beinl
made in the city for a wide range o
purposes. Besides the nearly So, 900,
900 annually now going into build
, ings, there are vast sums being dis
bursed for public improvements. TIL
city Is paying out to its workers grea
, amounts for paving, new waite
mains sewer work, sidewalks, grading
, park improvement and the like.
large amount is being expended an
! nually by the railroads for work O
terminal improvements; the stree
railway company is investing largel
4 in new facilities and the gas compan
|; is mnaking extensions which will reac
: this year alone some twenty-five mile
8 in aggregate of new mains. All thes
: things mean wages for Minneapol
: workers and trade for Minneapol
8 business men. Indirectly they have
z forcefu1 effect upon real estate cond
, tons, for they contribute to. the ger
!. eral prosperity Of the city.
I But after all these things are sal
I the real basis for present condition
a and prospects is found in the gener:
g soundness of the entire northwes
Minneapolis is the chief market II
: three great states. To Minneapol
n they send their products and fro
d If they are prosperous Minneapol
O lprospers. Experts generally agr'
s that no part Of the country is In bett
: lcondition than the northwest.
g products are of a character whfe
ordinarily command the best price