The Washington herald., 1910-06-19

Varying opinions are held by real es-
tate men regarding the condition of the
market and the causes to account there
for.
Some brokers think they nave had a
fair volume OF business during the win
ter and spring months, while others COM
plain of dullness. But the conclusion
reached after a thorough canvass among
real estate men is that the market for
several months has been dull.
While the volume of money coming in
from the outside for investment in Wash
ington real estate continues fairly con-
stant and while home buying among
government employees goes on, especially
among the new houses being built in
the suburbs, the market as a whole. is
little slow and the buyers are fewer
than was the case last year at this time
or for two or three years before that.
Some Causes Assigned.
AS to the causes. one says general
business conditions; one says the uncer-
tainty of the crops. growing out Of a
cool and backward spring; one says the
unrest of the political situation has I'M
dermined business. and that nothing can
be hoped for until Congress has ad-
journed and gone home. Other reasons
have been advanced, based upon the diff
ferent ways different men have Of look
ing at a question.
Brokers, accordingly, say that with the
business atmosphere clearing, real es-
tate ought TO improve; others say that
l.
soon enough to insure good growing con-
ditions for the cotton and corn, uncer-
tainty as to investment in real estate viii
vanish. Nearly all are agreed that the
adjournment Of Congress VIII help the
situation, and the general attitude Of the
men engaged In selling real estate is
that the market ought TO be better as
summer opens. because II has been dull
50 long.
Many Have Bought Homes.
A few considerations, however. have
been suggested which possibly have
more interesting bearing on the case
than any OF the influences mentioned.
One Of them is that the local home
buying movement has been neasurably
exhausted. For period Of three or four
years real estate men have been seeking
out the government employees and other
permanent residents Of the city. and have
Induced them TO buy homes among the
new houses built IN that time.
Others with a margin of savings have
been induced TO buy property for invest
ment and the selling OF real estate OF
one kind and another has been going on
very briskly for a good while TO our own
people.
Naturally such a market has a limit.
The time has come, according TO the
view of some operators, that the number
Of persons who can buy property has
been measurably corralled and sold Not
that the number has been entirely ex-
hausted, but that the field has been can
vassed to a point where the buyer is
hard TO find because there are not many
1f them.
Values Not DepreciatinR.
This view becomes all the stronger
rom the fact that values have not been
affected much by the recent dizziness. In
most cases it has not been necessary 20
make concessions to sell property. but to
ind any one who might be in want OF II.
The truth seems to be that applications
or property have fallen of to some ex-
ent-enough 10 cause a perceptible diff
erence in conditions from what they
we're formerly. This naturally has its
fleet upon the market as whole rather
han upon individual Offices. and possibly
accounts for present conditions as ac-
,urately as il Is possible to do
The situation seems to be further COM
plicated by the fact that the majority
IF house buyers in the last few years
and many Of those who have bought
with view to investment did not pay
or the property in full The trust form
# transaction has been extensively used,
md in consequence those who have been
'old a piece Of property are not in posi-
ion 10 buy more until the debts con-
racted have been paid of, three or four
ears hence. This process has served to
lie up the market more or less and
)ring 1t TO standstill.
Natural Result Follows.
Brokers advancing this view do not crit
else the method and do not marvel at |
he result. They look upon it as the nat
Iral outgrowth of conditions which have
)een operative in washington for the |
vast few years, and from which time |
lone can give relief.
amen dlA III oil, Lilt SITUATION Is IN no l
wise unhealthy Home buying is in
initely better than rent paying, and in a |
ew years wifi result in the saving Of a /
arge volume Of wealth in this city. No /
oubt exists that the population of the /
'apital through this buying of property
5 making accommodations which win |
'radually increase into fortunes of re-
pectabie proportions in the coming
ears.
Movement Well Started.
Into the departments of the govern
lent have been introduced through the
cal estate Office a movement toward
hrift which in itself is a great asset
he time was in Washington when It
ras said of the government clerk that
e lived up to or above his income and |
'as always a poor man. But of late
ears the average clerk has been making
is investment in a home or in some
ITS, on which he win some time build a
ONE or will sell his holdings TO another
ONE buyer, thereby securing a comfort
bic sum Of money beyond his govern
tent salary, brought about by the DUR
base of property and saving something
rom his wages to pay for 1t.
Better business conditions, better
leather for crops, and the hegira Of Com
ress may help the real estate situation
} some degree, but when all is said the
'ading up of a large part Of the home |,
opulation with property trusts is the
factor in the situation. If the
sal estate men whose views are reflected
ere have been rightly formed
Hospital Gets Annex.
The property next to the Episcopal Eve.