The evening world., 1912-04-27

lay Equal to Their Kent,
and Most Of Them Are
Willing TO Go Out Fur
ther to Get More Land.
By CADMAN h. FREDERICK
He 10 President Of the Long IsIowd
Realty Cowpowy. sohtch has been
working 70, over sWemsy yeors to
spredd seside~tsdI settlements
through ne sowth shore ssoti0ws Of
Freeport end Nerrtck. The company
nae bum % houses at Bellmovs st~ce
last toIL
Real estate men who deal with the
New York masses are becoming aware
Of . marked change In general
economic intelligence. Wage-earnsrn
are MOI piling ovsr each other to put
their money into land schemes. a. Shey
were q few years ago. They are not
caught BY ciap-trap advertising. They
are msasuring With proper STANDARDS
the various opportunities Offered to
thsm for PLACING their savings. ana there
u . rapsdiy growing demand for com
pieted houses rather than for vscant
lots.
TiAt-Awslsrs IN the crowded o'y
oAntses especially are Awakening 10
ohanoes Of improving their living oon-
ditions 40 we'll a. their fortunes. They
are seeking houses that cen b bought
with payments equal and not greater
than the sums which they have been
paying 20 their landlords. In tms ehey
are shswing Q notable advance IN
economic educaAt6n because thsy are
rsfusng 70 load themselves with
heavy mortgages for. the casrytus OF
properties which would Be really DE-
yond Their mesns.
From my business i-nvesneaUons I
am ,eonv4nosd that there are fNiy q
miinon fat-dwelsrs in Now YoFk wAs
ne practically In the mArket for own
nm whaoh wouad cost them ~ mere
then the eums that they ere eASea1 n
rent. A Sasvs pss& of them - ~
openly seeding houses. bue many q
them aAb, end the eonsS0srao0uD WeDdA
have prompted the p~sonssFs - oant
Tor Suburban themes aepsaa WIN eeuA
Seees - tho0s who tavs not - yst
been aroused % ~ Situaton.
oPNsVo SuoRaIoD uANoeoT
ontcG 1908 SOON.
Thas new mevumsot Of the hae-0WsC-
ers u mah1og ~ spring bus1nsss ths
iaRgest since 10. weAeh wAS . eoou1ns
boom year. Toeal ales during The past
few months hsvs run past the 100 A.
urss. but nearly half Of the buytnG
has been tor homes while the 100 move
mont was mainly . hand affair.
Probably the most o~onoentraksd paft
Of the movement he's been directed b
Long Is,and. especially along the south
shore. Thts = not . GensrsA statement
but . fact which - verified BY sctuaI
building and buying ststistoA Al Bell.
more slone, mex to the Freeport-1fer.
r1ck section, we have built and sold
twenty-five dwsilinGs since last faal,
and twelve moro have been sold wh3oh
must be built At once.
II I could place contracts Cor buildinl
LEO houses tomorrow ! am confident tina
more than 100 Of than would DO sold be-
tore they could BE- completed. and I d
NOT think the other atty would remair
ON our hands long enough TO delay Tor q
week . repetition Of the operation. Tht
100 to 500 houses sAch year and very lev
OF them cost moro than $500 apiece. Thfs
shows that the movement 10 carried q
almost exclusively oy homssseksrs O
moderate mean
Buyers of housO on our propsrtisl
have been mainly fat-dweaisrs. Tho!
have come not only from Manhattan bu'
from the Bronx. Brooklyn and New Jer
soy, one from Patterson beginning IN,
purchase Of q home which will be hi
tor much less than he would pay IN rent
oscause his rent money will buy tn,
house In Q limited number o6 years
vASreas no othsrwt0s would continue Il
0v> HE mcnSy - the Iaadlerd foe n
ssst II ~ M
eAv DOWN oteo ON ea.oot
HoUoG1.
Thsss buyers ere paying from 1900 b
1850 for their houses. They are no
paying much cash-Srom 800 to $500. th
average being $50. They Cve mortgage
for each hs1f Of The purchase price. tn
second mortgage 10 paid on by msans o
monthly instalmsnts At b end Of sovsI
yssrs. leaving the other half Of the vx
chase price remaining on arst mortgage
This can be paid on by savings Of ~
turs years. or. II II u leSt Standing. Il 4
only Q small itsm-$so . year ON tn
q, 1000 house. All costs Of this purchas
ing operation are INST bv as . month.
But the more homo L. not ell that !
behind ne nsw outward movement o
the dat.dweiiers. There 10 . great De
mand for moro land than the ordinar,
building sdte. Families want enough 20
small gardens or for chickens or ani
mails. While houses can Be had oppo
site the railroad station at BeIlmor
for $500. We find that the majority o
buyers prefer to walk . mile and
half and get the same type Of hous
! with two or three times more land 70
.
~Jusf Say"
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