The Washington times., 1905-04-09
MAY Be SERIOUS
FOR REAL ESTATE
AND BUILDING
Increase in Prices Of
Labor and Ma
terial.
VIEWSOF SOME DEALERS
Valuable Seventh Street
Business Property
Sold.
VlEWS0F SOME DEAL ERS

The demand for higher wages on the
part of the bricklayers in the District,
coupled with high prices eXacted for
building materials. has brought about
rather a peculiar condition OF things so
lar as building operations on q large
scale are concerned. From conversa-
tions with several of the leading real
estate dealers it is cleaned that an un-
usually active season of inquiries regard
Ing both improved and unimproved prop
erty has just begun. Whether or not
this is to result in the extensive opera
tons foreshadowed by these INQUIRIES
will depend largely upon the limit to
which the prices of both labor and ma
terial will be pushed.
The statement is made with great
positlvenesS that even at this time a
number CT deals for property which was
70 be used for extensive building enter
frises have been temporarily held ur.
because the principals look upon the
threatened increase of cost as certain
to cut down the returns from their in
festments to a point of little or no profit
Depressing to Real Estate.
ms. OF course. would exercise a de-
pressing effect on the real estate mar
ket, and especially on the sales of I'M
improved property IL the man who
thinks of building an apartment house
or row OF dwellings, either for invest
meht or Tor speculation, finds taat he
hGs 10 pay excessive prices for his ma
ter1ai or labor, he Will be compelled to
ihslst upon getting the land at lower
ngures than he would be willing to paw
II all things were equal in the material
ahf labor line
On The other hand. Il tbe ;ncrea sod
price for labor and material is paid and
In addition thereto the normal prIee
Tor the land, the result is that the SELL
ing OF renting price of the buildings
must Dc raised. As one real estate broker
pointed out, this might exersise even a
reactonary effect, in that owners of
houses, both large and small. would
increase the rentals, and this wovid
iaii with especial severity Upon the
very men who. by their demand for ah
normally high wages, would be chiefly
responsible for the necessity for such
increase.
Facing Serious Condition.
We are face to face with most
serious condition of affairs i'm respect of
selling real estate and building said
this broker, whose business transactions
every week run up into the six-fig,re
column. 1t will not take much more to
bring prices to the prohibitive point. and
when that stage is reached. then we
snail have to do one of two things
either lay down our hands and stop
work, or call in non-ulion labor from
osher cities There is any amount of
this to be had, but If such course were
TO be pursued, the bricklayers' union. |
which now is an Independent body. |
might affiliate with the Federation of
Labor and bring about the calling out
OF all the building trades In the District |
This, 1t is true, is terrible alternative
10 contemplate, and many sacrifices will |
be made to avert it. but [ fear we are |
rapidly approaching the point at which
come stand will have to be taken against |
demapds the concession of which SPELLS |
ruin to those who concede them
Others did not take quite SO nessinis |
tie view of the situation, present or |
prospective. but there was not one
among the real estate brokers or build |
ers that did not express the opinion that |
prevailing conditions bear IN themselves
the possibility OF great harm to local |
interests.