The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-03-27
TIE REAL ESTATE MARKET
EOOD HEEkS BUSENESS DE-
sPITE HOLIDAYS.


-
atr ~, DemaHa was mepsgIsd Ger Tsun
R..Isiea~es IN She Eashaunable Nsagh.
,srhOesis aSrtsAGS s-san Csmassssa
:1,srable TAe asuiaalng nsTIhs.
S...r@ss was Interrupted lat week
ln'erv~usion ct several widely
.,. 81 re,ig ous holidays. Neverthe-
S'Ilssiaaiial amount OI trading
..rrorted from BROKERS Offices. The
. sea- of activity con,inusd tai IL In
. u.dtoNR section. hut the dealing
NOR" or less general. embracing
"a variety OF property.
demand for private dwellings
,. notably lnrRs. a faoa which IN of
-giAl interest because OF itS bearing
OIL. the purchAsina power Of tho well
O., 10. Of course people do not buy IN.
r.nslve town residences unIaaa their
lr,sine-s ventures and security invest
,'snts are welding good returns-un-
l-.s. in a word. general industry Is In
normal. wholesome state aud the
future 10 rea sonably clear.
Another feature OF last weeks broker
age news that made a favOrabls impress
on was an increase Of trading in fats
Inc uAlNE0H8 @1D WY NhtaNANEIWaDs " -
true. hut ie was sufiaciene TO encourages
the belief amo@g operators that a re-
vival OF activity I'm this class Of housing
w at hand Ever since the recovery from
the panie the real estate market in Man
haitian has been q rich mans market.
That Ia. the buyers have been opera
tors. investors and business concerns OF
largo msans and the property that has
been dealt in mas be~n of the higher
nrioe order. The trading In anats. and
pArticulArRy In tenemeuts. hafbeen far
below normal
When the panic came there was q con-
siderAbls oversupply Of the cheaper
grades Of multifAmily housing. For up
yard OF two years. however. ths prOduc-
ton Of such housing has bsen practically
.t a stAndstill. Meanwhile ths popula =
ton has increased. and besides the wage
earning Glasses have now Tor some time
bsen generally employed. Property in
the Cat and tenemsnt sections Is undOubt :
sdIv once moro realizing a steady and
profitable income.
However II appeals a. an investment
mainly 20 stOreke~p~r< and other local
business and professional men. The d,Ies-
tica therefore II whether tina GLASS of in
vesfors has recovered sufficiently in pur-
chasing power TO bury real estate on an
important scale. Last weeks dca ling
IN fats afforded no decisive answer. hut
q strengthened the belief thst the real
Estate market will be heres fter less eX-
cl'isively rich m1n'- msrket thru u hs-
been.
The extent Ia which this l.elieG win b.
realized depends of COURSE very lsrzelv
mon a continuance Of existing mortgage
Dan conditions. StP temert isatlsf
Yesterday by MIR. Pr-rdsrgyst % the
mor gaze deparm.nt Of the Tit'e Guar.
sntee end Trust Company IL therefore II
timely interest. u rrds in part:
4 have bssn Watching to see whether
rhe new a., Ter cent. New York CITY
innds would in any way a1ect our market
for o.. Yer cent. mortgs gee. There wa
= time when investors SEEMED to prefer
bond OF Ne~ YORK city To a pers0na
obligation OF one of its citizens at the
same rate, even though the latter he
-acursd lJy n spssific ptsre Of resi- estate
~ far sssws can see the demand for ths
londs has in mo- sEv intsrf-red With ne
market for real -SIsi@ InOTtSs Ees. u
NAV ~ thGt the r~asOn for this - the
unCsrtaintv - IN the marxei value 81
the bonds in the future.
When a man buys real ssfa - mort
gage ~ knows that 10 viii receive hi'
interest for thr-. or I've y-a =. a. The "a .
stated IN the mortxsZr aud ne Know
that he eau then osSh th-' nortgag" q
"a mar value Ghs. mal Nhu huvs anH
matters progress favOrably h" ALL r"
-siva hia interest," az the rate statet %
the bond bat there is little proba bilit'
Of his living until the time v hen thu Lone
h@comes due TO l@ paid Oh az its par '-Iltie
70 get hia money he must depend uilOI
the sale OF hiss ION 4 20 some other IA
weston. and this may nr may not . ~ IN
nar value IL She rats for money riss'-
he has no chance To get a larger asnOuh
Of interest on the bond. while "a IN" cas-
Of a mortgage he can rel@nd his none,
az the market rate AZ conp@rattveiy shor
Intervals.
we think tina, borrowers and lender
have every reason Ia 10 satisfied VIII
the pre@snt condition ot the nOrtgAR
market There H. plenty Of MONEY 70
Investment 1T reasOnaOle rates. aud IN
prices at which transfers are made shOV
hat real estate u In strong hands ans
maintains iss position - the IDEA
seclrtay.
The only disturbing element whic
Appeared in the real estate situation lns
wsslx vas Judge R0salsky's charge 90 ia
Grand Jury bidding " % ind indiCtmsnt
association for alleged violation Of IN
anti-boycOti lsW Ian refusing 90 hire mem
hers u the steam filters union. VIA
the equities of the case are n u ln,p0s-iti
~ know until they are brought out ., IN
trial. II 10 feared. however. that the y
Eality OF the arbitration plan NAV DE 10
volved under which the employers an
me trade unions hsv. got along wlthOu
-srtous friction for a number OF year
dissolution ~ the agreement wous
throw che building industry back into th
Old state Of chronic warfare " hitch totE
arbitration board was SUPPOSED To hav
tone away with for all time
Private sales.
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