Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-05
IT IS NOT 0YERBU|LT
Such Seems to Be the Judgment
About This City.
CONDITION OF THE MARKET
Apartments and Dwellings Are All
Well Occupied.
KEEP PACE WITH THE GROWTH
The Outlook for the Coming Building
Season in Respect to Various
Living Accommodations.
zEEP PACE WITH THE GROWTH

There is no phase OF the realty market
that is of more interest at this time Of the g.
year than the prospects for the coming
season. People who have money to in
vest well as those who use money are
alike alive to know what the exact situa-
ton is, and what are the probabilities OF
the near future.
There is one consideration which Is
looked upon as affording very favorable
ground for taking a hopeful view OF the
outlook. Those who are familiar with
one class of buildings in this city. namely.
apartment houses. are aware that from tho
standpoint Of the incomes which these
properties now yielding 1t is evident
that the market has not as yet been over
stocked.
Are Well Rented.
One Of the men who is largely interest
ed in this class of property. and who has
made careful examinations of the present
conditions finds that in case OF a number
Of the largest structures of this kind
taken at random and yielding an annual
income of nearly 100000 the loss from
vacancies amounts to less than one-haIt
of ! per cent of the gross income In
other words. the buildings included In TINS
estimate are practically al rented. 1t ~
believed that this represents a general
condition of the market. and In view OF.
such facts the conclusion Is reached that
at the present time the supply or apart
ment houses is not in excess or the de-
mand =,
While there has been great activity in
the erection of these buildings during mo
past few years, the entire movement mas
been characterized by great conservatism:
There has been no reckless ANTICIPATION OF
the future, and 1t may be said this Is In
a great measure to the credit OF the men
who have engaged In such undertakings
and that they examined with great care
the condition of the market. regulating ths
supply of such buildings In accordance
with what they found to be the actual
facts in the situation. In this way tho
overstocking Of the market has neeh pre-
A Spirit of Conservatism.
The same cautious spirit regulates tbs
market at the present time. and as an evil
dence of this It is only necessary to cite the
building records of the city, which VIII
demonstrate that there has been decrease
in the number of permits issued for this
class of construction during the past SIX
months In fact, the addition to the num-
her of apartment houses Is much less Tor
the entire year than was the case IN the
preceding year. owing to this policy OF
keeping the supply within reasonable limits
of the demand. Buildings of this character
at the present time are not only prontapie
investments, but have future which Is
looked upon very favorably by those VINO
are at all posted in property Of this KIND.
The conservative tendency In apartment
house building has, of course, been
strengthened by the policy of the financial
Institutions which have aimed to supply
money for such enterprises in amounts pro-
portioned to what Is looked upon as the
needs of the market. In other words. build
ers as well as those who have money 10
lend have acted In harmony In this partlc'
ular and as a result the market has the
staple character of today, and one winch
promises well for the future.
Owing to the fact that these structures,
generally speaking have proved to be such
excellent earners of good dividends on INC
money invested, those who have loaned
money naturally feel confidence In TINS
class of investments which, under other
conditions, might not be felt
Attention of Capitalists.
The situation is such that it has naturally
attracted the attention of outside capital
lists and consideration Is being given to
undertakings which, If carried out, will re-
suit in the aduItion of large and expensive
buildings to the number in this city. The
bringing of money of this sort to the city
is an advantage not only for the present,
but for the future, as 1t serves 10 Identity
with local interests men of large means.
The attitude of men who are connected
with financial institutions and others who
are in a position to be supposed to have
knowledge of the local market is an impor-
tant one in that particular, as frequently
their advice and counsel are sought by pro-
Spective investors. IL Is, therefore, OF HuNn
consequence that there should be thor
ough knowledge of the market conditions
at this time in order that the prospects be
truthfully and fairly described.
AS to Houses.
A similar policy has been pursued in re-
gard to the erection of houses, and in this
class of buildings. as well as that OF apart
ment houses, the experience of the rental
DEPARTMENTS of real estate offices demon
strates that the results have been equally
satisfactory 1t is not the experience that
the market for houses is overstocked, and
whatever new work of this sort is at
tempted during the coming season II Is the
belief that 1t will be carried on along the
same conservative Hnes that have charac-
terized building operations in the past.
1t is a sufficient explanation of the facil-
tiles with which the market has absorbed
both classes OF buildings to say that WASH
inghon has enjoyed, in common with the
rest of the country, great prosperity during
the past few years, and in addition to that
factor It is also noted that the population
of the city has grown to an extent that -
believed to be without parallel in any other
oarInd in the history