Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1906-05-03
BIG BUILDING BOOM
NOW EXISTS THROUGHOUT THE
UNITED STATES.
Real Estate Craze Is on and Middle
West Farm Values Soar-EFi-
dences of widespread Increases
in Value Never Before EquaIed-

in Value Never Before EquaIed.
The United States is now in the
midst of one Of the greatest real estate
and building booms in its history. So
general is the tendency to invest IN
farms. building lots, homes, sky
scrapers and business blocks that the
banks in the great money centers are
incommoded by lack of money. Every
man with a few hundred or few thou
sand dollars is investing it in realty.
In all the boroughs of Greater Eew
York there is enormous and constant
buying of real estate and it is impossl-
BILE to set men and supplies for all the
building projected.
In Buffalo the Industrial growth is
unprecedented. During the past year
$1,000 skilled mechanics have been
added to the city's population, brought
there through the location of new
plants and the expansion of those al
ready established. The housing of the
increased population has required
every vacant house in the city and the
best efforts of the builders have been
unable to keep up with the demand
for flats, apartment houses and bust
ness blocks.
In Philadelphia, especially in West
Philadelphia. the increase in real es-
tate values has been from % TO 80 per
cent, largely due to the construction
of the elevated railway. During the
first three months of this year permits
have been issued for the erection of
$4,000 two, three and four story dwell
ings, at an estimated cost of S7,0O0,OOO.
In Pittsburg everybody is speculat-
ing in real estate. Every man with
$1,000 or more is dabbling in it. Prices
are soaring in a way to give the blush
to a western land bOOOm. No. 519
Wood street, bought in 1901 for SIC, 900.
sold last month for 100000. No. 51S
Wood street, bought in 1902 for $15,-
900, sold last February for $1S0,OOO.
A corner on Penn avenue was pur-
chased last winter for 100000 and was
sold last week for $240000. A corner
at Fourth avenue and Decatur street,
bought in 1902 for $4,000, sold last
month for 100000 No. 210 Fourth
avenue, bought three years ago for
$4,000, sold last month for $150,000.
Hundreds of such examples might be
quoted.
In Baltimore the area destroyed by
the great fire has oeen rebuilt and
$100,000,000 worth Of improvements are
projected or are under way.
Not in quarter of a century has
there been such boom i'll real estate
values in Omaha and Nebraska. Ne
braska farms are to-day worth $780,
100000 more than they were worth
five years ago. Lands which five years
ago were worth $50 an acre are now
valued at $50 to S100 Western Ne
braska range land which was worth
so cents an acre five years ago is now
quoted at from s. to SIS. In the cities
the increase in values has kept pace
with that the farm lands. For eX-
dhllIIC- n NiuLOA pun wv SVdtA >
ago for $4,000 was sold last week for
$4,000.
St Louis is erecting an average of
two sky-scrapers a month and other
building is in proportion.
The prosperity among Illinois farm
ers is unparalleled. Farm land has in
creased from 81 to 100 per cent. in five
years. Chicago real estate men say the
prospect is the brightest in twenty
years.
In the corn belt of Iowa land is
worth 500 an acre, while in sections
reached by the interurban railways
land readily brings 5000 an acre which
five years ago could be bought for $50.
For five years real estate in the Bir-
mingham (Alabama) district has
grown rapidly in value. In the city
building permits granted for buildings
now in course of construction repre-
sent value of $3,O00000.
From Montana, Washington, Vir-
gfnia, West Virginia. Minnesota and
nearly every State the reports indicate
a prosperity never before equaled.