Los Angeles herald., 1907-12-22
REAL ESTATE
IS HEALTHY
MIGHTY STRIDES IN cITYs
ADVANCE
REPEATED BOUNDARY ExTEN-
SION NECESSARY
Newcomers Share In Result Of citys
Growth--Los Angeles Boom Days
Past--continued Healthy Ex-
pansion Assured

Optimism is the keynote Of the Los
Angeles real estate market. The remark
able advances in values that has taken
place during the past five or six years is
we'll sustained. 1t is true that during the
past few months the purely speculative
interest In certain classes of property has
subsidized; but-and let this be clearly un-
derstood-values have not been affected In
the least. There are no foreclosures.
Buyers are meeting their payments.
transactions in close-in residence prop
efty and In business property have pro-
gressed as usual, save for the interruption
caused by the money furry and the legal
helidayE,
fnvieus oaiumniators and some not
acquainted with the actual conditions
have insisted that the numberless realty
transactions and the marvellous advance
In vaiies were but features of 'sboom.'
usihE the word In Its Objectionable sense
Thase better informed have pointed out
that These factors were but the inevitable
results from Los Angeles enormous
growth.
u weuld be rreposterous to suppose that
Veaitf values would remain quiescent in a
city taat has tripied its population in
seven years and which is still growing at
the rate Of $4,000 year
une newcomers must have homes. They
wish Ia share In the prosperity of their
chesen city They bring money here to
invest: From eo0o to 10000 building per-
mits have been issued annually in Los
Angeles far five or six years past. In the
great majority Of instances each permit
represents lot. perhaps more than one,
taken out of the market
The city has grown by leaps and bounds
The dairy ranch or alfalfa ranch today
is the city subdivision of tomorrow. This
constitutes one of the most interesting
phases of the city's growth.
If real estate values In Los Angeles
rested merely on the boom basis they
would have toppled over like a house of
cards under the stress of the financial
furry. But they have remained firm as a
rock. Inquiry for inside property is
active, despite the fact that the banks
are making few loans.
1t is predicted by close observers that
when normal financial conditions are re-
stored, and that happy day seems already
in sight there will be a rush to make in
vestments In real estate. 1t has been
shown under test that values are normal
and sustained; and the profit from Los
Angeles real estate investments are much
larger than those obtained through or
dinary financial channels
All through the breathing spell' of the
past few months the population of Los
Angeles has increased rapidly; real estate
investments have had chance to catch
up, and ultimately the market will be all
the better for 1t.
During the present season there has
been increased inquiry for small farms
five-acre and ten-acre tracts-and for
poultry ranches, showing that the desire
for outdoor life, coupled with the excel
lent opportunities for profit making
through the great and growing market of
Los Angeles have appealed strongly to
thousands of homeseekers.
Those who would study real estate
values in Los Angeles must also consider
the population and the building figures.
1t is by no means matter solely Of deal
ing in vacant lots. They must consider,
too, the growth of manufactures, the ex-
tension of electric railway lines and
dozen other factors in our present pros
perity. They must consider. too, that
Los Angeles has not yet received the full
benefit from several great and important
factors with which her future is indis-
solubiy connected. San Pedro harbor, as
to commerce. is in its beginnings. Ne
vada, brought to our doors by the Salt
Lake road. has not been scratched over.
The Owens river project, that gigantic
hostage to good fortune, is yet to shower
its blessings upon u.s. The Industrial
awakening is new. Our chief asset. our
climate, will still be drawing power to-
morrow, and tomorrow and tomorrow Los
Angeles real estate is emphaucally all
right