Los Angeles herald., 1907-09-15
PROSPERITY
rs ASSURED
LOW PRICED TRACTS GENUINE
SOURCE OF PRIDE
DEMAND FOR HIGH CLASS PROP
ERTY GROWS
Real Estate Operators Offer Eloquent
Testimony as to Stability Of
Future Values In Los
AngeIes

There are two classes Of subdivisions
any growing community needs, namely,
the high class and the cheap.
The latter is imperative, because the
mass of people must have them to live
upon. The day laborer and the factory
and shop workers and the clerks can
build homes only with limited means
and must, therefore, as a rule, have the
opportunity to purchase improved or un-
improved property upon small payments,
which shall terminate at the end of
reasonable length of time These tracts
are the real source of genuine pride to
city, because upon them dwell those
who bear the brunt of the days labor,
who produce the wealth, who provide by
unceasing toll the Subsistence of the en-
tire city. Nothing within all Los An
gees' boundaries speaks In such eloquent
terms of her prosperity and the content
ment of her people as do her extensive
sections of modest homes. The Philadel-
phian Is always proud to speak of his
native city as one of homes We venture
to assert that Los Angeles has more
people, in proportion to population, who
own homes, than any other city of i'm
portance in the United States.
Los Angeles has had many of these
subdivisions laid out in the past and
has seen them answer to demand like
hot pancakes to hungry man on cold
are now on the market is a question
which must be answered by some one
who has canvassed the situation thor
oughly enough to be accepted as an au-
thority There can be no doubt how
ever, that as the increasing number of
industries get under full swing in their
process of development the enlarged
: working forces will quickly fill UP the
few vacant spots, and probably sooner
than we expect additional subdivisions
of the kind will be required.
A Guess on Population
4 1t is a matter of common recollection
that Los Angeles enjoyed hearty laugh
when one optimistic real estate operator
predicted a population Of 25O,OOO for the
city, and it is of equally common recpl-
lection that we all enjoyed a still heartier
laugh, this time with the prophet, when
we woke up one morning and found that
the gentleman's figures had been too con-
servative. Just how much short his guess
at 80, 900 for 1910 will fall remains to be
seen. Any ow, the public court will give
him a fair hearing this time, for the
rapid pace at which the city is still
growing indicates a verdict of approval.
But there is the other class of prop
etty, the so-called high class. which is at
ISpresent moment stronger and
sKIer proof of Los Angeles prosperity,
for Its brisk sale indicates not only an
Influx of peopole, but the arrival Of capt.
tai. Capital is one of the things a large
city must constantly seek in order to
afford employment for the gathering
thousands. The $50,000,0OO worth of man
, ufactured products Los Angeles is turn
ing out annually is some indication of
the lively activity she exhibits now, but
If this is the amount which represents
the efforts of the present laboring popu-
lation great increase of capital must
occur to provide employment for the
stream of arrivals entering the city's
gates every day.
Proof of Prosperity
And there is no class of men which is
better able to sense the situation, which
can so quickly catch the suggestion of a
demand. than real estate operators. 1t
is their business to keep an ear to the
ground, to keep finger on the pulse
Nothing will so certainly establish con-
fidence in one who Is possessed of some
doubt about the future as interviews
with these men at the present time
Many of them will assure you that the
most eloquent testimony they have to
offer on real estate values and business
in general is the daily increase in the
number of inquiries for high class prop
erty, not for speculation, but for perma-
nent investment or for homes for them
selves. and the fact that a number of
high class and high priced tracts are
either now selling successfully or being
improved for an early placing upon the
market. And when you add to this the
important transactions which transferred
several pieces of business property this
week at sums running high into the
thousands, one reaching up to s10O, 900
you have a sort of conclusive evidence
which should allow no man to ask,
What of the future?