Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-03-07
REAL ESTATE GOSSIP
Feature of Building Operations
During Last Month.
A DEMAND FOR HOUSES
Reaction From the Security to the
Realty Market.
NEVER ENTIRELY WIPED OUT
Value Of Real Property Emphasized
by Current Condition of
Other Investments.

The increase in the volume of build
=. Ing the past month is something that is
of annual occurrence for the reason that
the beginning of the activity of the COM
ing spring months shows itself in the
the greater number of permits to build
At this time, however, as it happens, the
figures are of more than usual interest
owing to the condition of general business
and the eagerness for signs of revival
1t is not regarded as of much conse-
uuence in this particular that the number
of permits issued during the month of
February and the total estimate of the
amount of money to be expended is larger
than for either the months of January or
of December preceding, for that normally
can be said any year, as naturally at the
approach of spring the amount of such
work increases.
Building of Houses.
What is of significance in connection
with these statistics at this time is the
indication which they give as to the
course of the market. 1t is noted that
more than half of the 100000, which rep
resents the aggregate of the building
operations for the past month, after
deducting the cost of the Carnegie Insti-
tuition administration building, is on &C
count of houses.
The largest item in the enumeration
outside of the one building mentioned is
s211.000 for dwellings. There is only one
apartment house in the list and that is
small one. The business buildings also
do not figure very largely, SO that it is
evident the bulk of the activity of the
market for the past month, as shown in
the report of the building inspectors Of
flee, is in the building of houses.
This confirms the experience of those
who are engaged in the realty business,
as the large proportion of their business
houSpS
seems probable this feature is going to
continue to characterize the market dur
ing the coming months.
Securities VS.. Real Estate.
There can be no question but that he
shrinkage in values in the security mar
ket and in many cases accompanied by an
entire stoppage or decrease in the income
from such securities has had an influence
in changing the viewpoint as to real es-
tate as an investment Such fluctuations
IN sentiment, as IT might be termed, are
not unusual or unknown. When the stock
market is booming and advances are
rapid and large returns are made in the
way OF regular or extra dividends then
investors and those who have money
which they are anxious to increase have
their attention turned toward the Sc
curity market, and good deal of the
funds available for investment and for
speculation finds its way in that direction
There Is, however, reverse to that pic
ture, as is now being demonstrated and
those who have investments of this char
acter have not only TO face a declining
market and loss of income, but some
times also an entire disappearance of their
investment In this latter respect stocks
and bonds, IT is argued. do not rank
quite up to real estate. for it is recognized
of the latter that whatever may happen,
unless 1t be an earthquake, still the in
weston would have something to show for
his money, some value. which, however
dwindling, would still be a value.
Realty Is Tangible.
In other words realty is tangible prop
ty which can be seen, ~and is evident to
the eyes and to the minds of even the
most Impractical in the business world
'. natever happens the property remains
and there is no such thing as being en-
tirely wiped out. The land survives the
collapse of the markets and remains to
show TO the owner that he has that much
10 represent the money which he put i'm it.
1t is conceivable that land in some loca-
tons and at some time has not much
value but the point in such comparison
is being made with the security market
is that ii survives, whatever its value
which is more than can be said at times
of the paper representations of value
which are dealt in on the stock market
and go under the name of stocks and
bonds.
Some Attractive Qualities.
1t is attractive proposition for the
most part to place money in such form
that all man has to do is to cut the
coupons from the bonds every quarter
or semi annually, or cash checks for dvi-
dends when they come in from the COM
pany that issues the stock. Such an in