Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-07-25
BUILDING INCREASE
Explanation of Activity During
Month of June.
GROWTH OF POPULATION
Contrasts Show Influence of Business
Conditions.
STABILITY OF THE MARKET
Sterling Qualities Of Washington
Realty as Shown in the Ex-
perience Of Investors.
OF THE MARKET

IT was not unexpected to those familiar
with the current state Of the real estate
market that the total of the building dur
ing the month of June showed an increase
over that of the preceding month. The
figures of the latter were below the nor.
NAL for that month, as might have been
expected, owing to the fact that here. az
we'll as elsewhere, business was just
emerging from the shadow OF a financial
panic.
1t was thought the totals Of the expendi-
lures for the month OF May Tor building
were encouraging, and showed that this
city was coming out from the widespread
lessening of activities in good condition:
There were reasons why this should be
the case. for while this. city feels imam
cial depression less than any other por.
ton of the country. owing largely to the
government pay rolls not being cut down,
at the same time, last year as well as the
year before, the population OF the city In
creased at a rate that was much beyond
the average. The effect of such additions
was manifest in the demand for houses
both to rent and to buy.
Building Continued Good.
Builders found an excellent market, and
under the stimulus of such demand
good deal was done, and yet the market
was not overcrowded with accommoda-
tons. The financial depression occurred
before the movement was entirely over.
and during the past year brokers' nave
been able to do business and to find Gus
toners, especially for houses The outlook
in this respect at the beginning of the
present season was regarded as so en-
couraging that building activity was re-
newed when the season opened. but, OF
course, In a reduced volume.
AS the general conditions have improved
since the early spring the amount Of
building has increased. and therefore 1t
was not. as stated, surprising to those
who have kept posted as to the state of
the market to find that the official figures
of the District office show that more has
been done in the building line during
the month of June than was the case dur
ing any previous thirty days of the pres
ent calendar year. 1t is not usual for
the same ratio of new work to continue
during this part Of the year as In the
earlier months. but 1t is possible that
this year may prove to be an excep-
ton, as it is known that a good many
enterprises have been held back owing TO
the timidity Of capital.
A Demand Is Apparent.
The prospect is that those who are in
terested In such plans may decide to 90
ahead with them this year In order to
make up as far as possible for the time
lost which would have been theirs IL the
customary early beginning had been
made In the meantime the state OF the
market favors further building; at least
that is the opinion Of a good many who
are familiar with the current situation.
AS far as known, the flow Of population
to this city has not been checked. and
the newcomers must be supplied with
places to live. On the other hand, the
lessening of all kinds of business has re-
suited in throwing a good many out OF
employment, and, as is always the case
at such times, the economies that have
to be practiced are felt in the market for
houses about as soon as anywhere else
At such times there is doubling up
going on-that is. two families occupy one
house-and there is sublettihg Of hats
and all that sort of thing. This latter
process will be checked, of course, by the
Improvement in business which Is be-
lieved to be increasing In proportion an
the weeks go by. Then, also, there is an
other corrective TO be found at work in
this market, and that Is the growth In
the number of the residents here. which
keeps up apparently in spite of conditions
which would seem to stop 1t altogether.
Increase in Building.
With an undersupply rather than an
of houses and lower cost for
the outlook is promising for an
increase in activity. 1t is to have been
therefore. that the official rec
ord for the past month should reveal this
as 1t has done, and no doubt
that for the current month will show Q
similar condition.
Up to the present time there is not the
same freedom manifest in the invest
nent of money that is noted when busi-
,ess is more settled. But the situation
n that particular Is improving all the
line and more and more the attention OF
INVESTORS is being directed from the bond
market to the opportunities which the
ealty market offers. The movement here
S along such conservative lines and val
les are so staple that from the point of
lew of investments there is no class OF
ecurities that stand better than WASH
ugton real estate.