Evening journal., 1907-02-02
REAL EsrArE
HOUSES SCARCE
IN WILMINGTON
ImpOSSibiIity Of Securing
Homes Keeps Many People
Away From City

AS the annual moving day sp-
proaches. there are many persons ifi
this city who are az loss 20 know
where they win live during The come
ing year. by reason OF having 20 vl-
cate their homes at the expiration OF
their leases and their inability To sr
cure other places OF abode. II
AS result OF this difficulty Go See
cure houses it IS more than likely that
this 25th OF March Will witness an
exodus from this city of many fani-
lies who have resided here for years.
This could be prevented II there were
adequate provision made for the ron-
tlnued growth Of Wilmington. but this
has not been provided for the prop
er'y owners and capitalists seeming to
hold the opinion that inflated rentals
fro old and unlmproved dwellings
Welded a better financial return than
the erection OF number Of modern
homes which could be prohtably rented
at reasonable figure. thereby enc
couraginE people OF the better class TO
settle here. where their earnings would
20 to increase the tax rate and the ln-
come Of the merchants
on every hand q is an acknowledged
fact that one OF the prime reasons
why this city does not grow as rapidly
IN population as could be reasonably
expected Is this greed on the part of
those holding the city's purse strings.
and TO whom the upbuilding of tho
community should be more potent
factor than the amassing OF large
fortunes from the rentals derived from
houses erected decades ago.
Some Of lts Profits.
A striking instance or the rise or
rentals in this city vas given I'm these
columns a few days ago. when the case
of a house In the uptown district was
cited. This building was old-fashionei
Of three stories. and Its owners had
considered that the rental OF SIS which
Il brought perfectly ample. But one
day the prevailing spirit seized them,
and as a result Che tenant was turned
out and after the expenditure OF lit
tie money for wall paper and paint. the
place was thrown open as an apart.
ment house and the floors were let TO
separate tenants. the rentals aggre-
eating S6s per month.
On every hand the home seeker IS
greeted with the same old story mo
houses are to be had" and some houses
which are known TO be without n ten
ant after March % are being gobbled
up. their agents enjoying the interest
on the advance rent while the renter,
in return, has only the prospect OF get
ting a house TO pay for the use Of his
money.
Efforts have been repeatedly made
TO relieve the shortage in the dwelling
supply. but so far without avail
whether on account Of the scarcity Of
material. the high cost OF labor or the
unwiilingness TO put money into cir
culation is not known.
II certainly seems peculiar for ar
outsider to be confronted with th'
situation which denotes the impossi-
hiity OF renting a house. while on th'
other hand the number Of FOR sale
signs would naturally convey the Inn
preston 10 him that the majority OF
our citizens want to grt out Of town az
quickly as possible.
II Is about time some cnterprisinH
capitalist, who would be satisfied with
a. generous income on his money In
vested, should enter the field, and By
the erection OF many houses breal
down this ''whole hog or none policy
OF those who now hold the city by the
throat, as far as growth Of population
Is concerned.