The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-09-25
DEALER OPTIMISTIC
ON REALTY OUTLOOK
Thinks Underlying Features
of Local Market Insure
Prosperous Era.
HERBERT T. SHANNON
GIVES HIS OPINION
Desire of Many Americans TO Own
Home in Capital Given
AS Reason.

The recognized conservative features
underlying the local real estate mar
wet and the hope of nearly every Amer
scan that some day he may be for
tunate enough to own home IN the
Capital. form a combination which as
sure an era Of unusual growth for
Washington. according to the belief
Of Herbert T. Shannon, of the real es-
tate firm OF Shannon & Luchs.
Mr.. Shannon sizes up the situation IN
this manner:
First-The real estate market is sta
bic. and viii remain so, on account of
Washington's social. financial. and po-
Ntical situation.
Second-When conditions throughout
the country are prosperous the senti-
ment about owning home in the Cap
3tal begins TO manifest itself.
one condition is always favorable:
The other is, at the present time and.
therefore, the two working together
are bound TO produce tangible results
that will be felt in increased business
activity and prosperity through the
coming months
Exists Generally.
Washington feels the heart throb of
conditions existing generally over the
United States. Mr.. Shannon declares.
When the country prospers. Washing
ton does. When a general depression
Is felt IL also affects the Capital. al
though not in as marked a degree as
other cities. This is because the Gov
eminent psy-rolls remain the same.
regardless OF conditions. and equally
because real estate values do not de-
preciate. although the market is MAIN
tanned principally upon the basis of 10
cal demand, when times are hard.
Good times make good business at the
Capital. declares Mr.. shannon who,
after having Travelled extensively
throughout the United States during
the year. SAYS he is more impressed
than ever with the fact that as money
becomes plentiful great deal more
outside capital is going to be employed
estate.
from Maine TO Florida-among pro-
fessionsl and business men with whom
have talked lately" he said. about
making investments in Washington.
Tltey all regard It as safe field for
investment and they all declare II to
be the most ideal city In the world in
which 10 live Many OF those whom 1
met are contemplating investments, and.
in my opinion, outside capital during the
coming year viii play the biggest part
n has ever played in developing the
Is Optimistic.
when It comes down TO a purely local
Observation-Disclosures OF how conditions
in the rest o fthe country affect the Cap
ital, Mr. shannon makes some perth
nent observations which are entirely
favorable TO the outlook for continued
development
In the first place, 1 am convinced.
he said, 'trat the great demand for
homes and apartments has not been the
result OF the increase in population.
There are figures I'm my office which tell
a different story. Less than "A half
dozen years ago our records show that
there were two or more families occupy
ing the average nlne-room rouse. o
day we find this situation greatly I'M
proved and we attribute II entirely 10
the fact that the people are more pros
porous and are seeking larger and bet
ter quarters in which 20 live.
"Of course, 7 agree with the belief
that, as the population OF the country
increases Washington viii likewise. but
this desire OF the people 10 constantly
improve their living conditions has not
ny any means reached its height II is
This factor that builders are taking into
account. that is responsible for the
heavy building program now being map
ped out for the fall, winter and spring
trade. and that undoubtedly assures
more phenomenal records being made In
The rapid construction and sale OF
Street Cars%Aid.
Development Of street railway facili-
ties, 81 made sufficiently extensive. could
almost BE- counted upon 20 transform the
city in five years, Mr.. Shannon de-
clares Fourteenth street stands out
rs m example Of what can he accom-
piiEhed I'm this respect. Where the city
has been opened up BY the installation
OF large and better street railway serY-
ice II has invariably grown out OF al
proportion 70 the Improvement made
ne asserts.
And. then. there Is the prospect Of the
Capital gradually expanding along man
ufacturiug lines; OF the Government
administrative bureaus being enlarged
OF more and more opportunities in a
business way being offered the young
man.
'Waahington has hardly commenced
20 grow. When you stop long enOugh
20 study the situation, as IL Is, you
can hardly believe what YOU find. There
are undoubtedly vast undevelOped Op'
pOr1unities here vet
The Capital viii grow OF fits own ac-
cord AS the rest u the country grows
II will leap forward in bounds The
rense Of security that underlies IL and
pern1eates 80 VIII always MAINTAIN IL
II viii be eventually the greatest city
in the world.