The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-08-05

N UYING for investment is the turn
ID that the real estate market has
taken. At one time the main
movement was the absorption by men
blessed with surplus funds, of the snaps
that were lying around profusely; linen
ciers broke into the market to get prop
erty on which they expected to realize
an increase Following this, the feature
was the buying of homes and home sites
by the salaried class and by. citizens
who wished to break away from the
apartment house and flat habit: Wh1le
all these classes Of buyers are still help-
inc to push the wheel along, persons
who have little money ahead are US
inc their savings to create real estate
asset. Experience proves that a much
higher rate of interest is usually, re-
turned by this form Of Investment than
it is ever possible to hope for from bank
time deposits. -.
The rapid increase Of duplex houses
is an evidence of investment buying.
While year or two ago the duplex
house was comparatively unknown IN
Minneapolis, they now tower by the
score in all parts of the city, In
nearly every case it will be. found that
the houses are not occupied by the
egg in which are stored the sayings OF
years, hitherto intrusted to the, saw
ings banks, or to commercial banks on
certificates of deposit.
Some shrewd individual conceived the
idea of building in such manner as
to remove the objection to the close
crowding of families into flats and yet
TO produce more revenue from city
lot than could possibly be squeezed out
of a house occupying as much land as a
duplex building, the duplex accommo-
dating two families, was thought out.
This brings in double the house revenue
and nearly all the objections to Hat
house are eliminated IN It's constfuc1l o.
Investors with more money than the
average moneysaver possesses have
built Commercial buildings, flats, quad
ruplex houses and frame three-story
buildings, accommodating even six fam
lies, before the new building ordinance
went into effect. But the duplex house
belongs to the. province OF the small IN
weston. It is proving boon to the city
which has been crowded for room IN
which to house the rapidly increasing?
population Of Minneapolis, and is founo
to be a safe and rapid source OF rev
enue to the owner.
Pleases Large Glass.
One reason for the permanence O.
this sort Of investment is that the du
d plex is a concession to the ever-lncreas
4! ing class that is tired Of flats and fam
&t ily hotels, and which cannot afford tn
I, rent of an individual house, along witt
"a the expense of maintaining the proper
ty properly. The duplex has the com
} forts of the fat in the matter Of heat
ing, janitor arrangements, lawn cut
ting and the like, while at the sam
time the tenant can swell out with tn
Importance of householder, for doe
he not have the broad lawn, the wild
porch and immunity Of infringement
en- his privacy that the household
boasts? He has all the comforts Of
home.
Real-estate men are naturally please
with the latest trend. It makes tn
demand for well-situated lots good an
the nature of the Improvement Of tn
lots is the best kind Of security to tn
= morgagee. The buyer places wha
money he has in the first payment O
the lot and in the erection of the builC
ing. Natural pride in the investmen
makes the purchaser better class O
customer than the man who buys
lot, partly mortgaged, on which h
hopes to build sometime, when his shi
comes in-sometimes forlorn hope. I
the other case the property Immediate
& ly begins to bring in returns such a
to enable the owner to pay taxes an
interest on the property, keep up tn
away the remainder as an interes
bringing nestegg, which will eventual
pay for the original cost Of the IL
and house. Meanwhile the depreci;
NJ ton Of the duplex house, as to physic;