Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-20
HOUSES STREET. RrHwEsr

have money to lend and in these days of
large transactions. especially upon the lat
ter. 1t may be said that those who have
money to lend reached the conclusion some
time ago that enough had been done in the
way of adding to the number Of apartment
houses in this city. and in consequence they
ceased to make loans for such purpose.
This decision was not based upon any
statistics. or. in fact. anything that was
very authentic or accurate for the good
reason that data of such character practi-
cally could not be had. No one knew
whether the city was overbuilt not.
That was not known positively until the
present rental season was pretty well along.
and 1t was demonstrated to what extent the
new quarters would be absorbed.
But the men who loan money could not
afford. it Is said. to go on until all that was
worked out. for II some other result were
reached then their loans could not be re-
called. and they would find themselves
under the necessity. in all probability, of
carrying a lot OF buildings along until the
market conditions improved.
Instead of doing that they arbitrarily
decided that there must be a let-up in &C
tive building until the conditions became
more settled, and those enterprises already
begun could have chance to get on a
ume Of building has fallen off during the
past few months.
Now that something definite Is known
about the situation Of the market 1t may
Of building activity. at least in some of its
phases. although not in keeping. of course.
with the amount that is liable to be under
taken at this season of the year It Is
believed there will be a few apartment
houses started during the present fall sea-
son, but that the building of houses will
go on with moderate degree of activity
during the winter. .-...
Building Of Houses.
Builders find that their application for
loans for the erection of houses meet with
favorable consideration when loans for
apartment houses are turned down. This
latter course is undoubtedly suggested by
the experience of the current rental season,
as it has been demonstrated that the de-
mand for houses is greater than the supply
There is another consideration of conse-
quence. and that is the market for houses
to sell also continues active. so that any
addition to the number of houses can be
used to supply either the sales rental
market.
1t Is evident from this statement Of the
existing conditions, that the market Is In
healthy condition, and that owing to the
conservatism and good judgment exercised
by those who control some phases of it. the
activity which now prevails and which is
entirely normal. will not become excessive
The boom In the real estate market, which
Washington enjoys. has always been kept
| under control. and so the disasters which
follow overriding and over-specuiation are
not expected here
Investment Buying.
In addition to the opportunities for invest
ing. which Is suggested in the foregoing,
there are other avenues Of placing money
to advantage in the local real estate mar
ket. That such chances are being eagerly
sought IL the experience of dealers The in
vestment feature of their business rs one
that Is growing in Importance. People come
here each year. and they have the leisure to
look after Investments, and what Is more,
they see With keen vision the possibilities OF
the city.
1t is natural that this class should be on
the lookout for opportunities to place their
money to advantage. There is probably no
inquiry that Is more common in the expe-
rience of the average real estate broker,
than the one from the men who want in
vestment properties. AS soon as the pos
sible development Of any particular section
becomes evident, the rush to buy shows
this prominent phase of the market. To a
certain extent, everything of this sort is
anticipated but that is not always the
case. witness the recent activity in
property in the vicinity of 10Th and H
streets northwest.
Influence Of Union Depot.
To some extent, the shifting Of the steam
railroad center in this city has been antici-
pated, but after all, it Is believed that 1t
has only partially been done. AS the union
depot nears completion and the effects
of the change in the course Of travef, and
the shifting of business is seen properties
which are now not very highly re arded, or
thought of in connection with rising mar
ket, will ne doubt be brought into promi-
hence. There may be change in much
that has been anticipated. and other un-
certainties in the situation. 50 that the
future. in that respect. is full Of interest,
and one that is being studied with a good
deal of attention by those who watch the
realty market.