The evening world., 1913-01-04
Building of the Home
as q Matter of EcOnOnlu
Long Islands Largest De-
reiOper of Acreage
Tracts Into Home Sites
Tells of the Vast Op-
p0rtunities Waiting for
Home Buyers and Cen
eral Investors.
BY WILLIAM n. MoFFlrT.

Great Opportunities always have ex-
listed for homo buyers and small inves-
tors in New York real estate. They
exist now and they always will exist
Tho real estate history Of New York
for the past half century has been
without a parallel in any city Of the
universe. 1t has offered the most brill
liant opportunities for both the ac-
QUESTION OF wealth and for spectacu-
lar development. Investments In land
have made riches for many families.
In 1880 New York had thirty million
aires and to-day there are more than
2.500--the majority of whom admit
that real estate was the basis Of their
fortunes
shrewd investors who have piled up
fortunes have watched the progress
OF metropolitan growth. especially Of
suburban development. Large numbers
Of them are at work now. The time
for accumulating riches in realty has
not passed by any means. II IL only
Just beginning. Greater fortunes will
be made in the years to come. Tho
records Of the next twenty-five years
will exceed those of the last nifty.
100000 GO UP TO THE BRONX
EACH YEAR.
Northward from Manhattan Island
100000 people . year are moving into
the Bronx. Eastward 100000 are NOV
ing into Long Island. Brooklyn has
tn -,,la k., N A,,e
Ing the last ten years and will show
far larger growth In the immediate
future.
These people have not been snticed or
induced 10 move. The rapid increase Of
popula ton and business IN the old CEN
tres has actually pushed them outward
forced them to move into and TO develop
vast areas Of the suburban sections.
This growth 10 greater each year. and
there u no other conclusion than that
the suburban outflow must be proper
tionately Of larger volume.
Metropolitan growth during the last
quarter century has amazed the world.
Its rate now IL as fast as ever and It
promises to be accelerated throughout
the coming score or more years. We
are growing ten times faster than Is
London. We are rushing close to the
volume of London In population. and
the coming decade will SEQ us outstr:D
the great world metropolis in popula-
tson, wealth. industry. commerce and
all other lines Of human progress.
HOW NEW TRANSIT WILL A.
Feet THE sUsURss.
How can the homeseeker take ad.
vantage Of this immense future?
New York has been cramped into mar.
row city confines because transit fac!l.
tiles did not grow in proportion 10 pop
ulation. But this has all been changed
The transformation Is now under way
Within a few years our transit Will bs
a few decades ahead Of population
There can be no. other result than thai
population will spread and take fui
ADVANTAGE OF the housing facilities thu,
suddenly provided.
In Manhattan are jammed 10000 fam.
lliss. There are only 1900 owners oi
esidentlal property. Nnety-hve person.
out Of every ono hundred pay rent .pi
their homes. Look, for instance, a
other large cities where Transportation
has kept abreast OF growth ana popula
tion. In Philadelphia We see 20 per cent
OF the people owning their homes
Other cities show from 10 to 70 per cent
Of home owners. Conditions In New
York are sure TO readJust themselve
more nearly to those that prevail In n,
other large cities because such cit!e
show the average which has been estab
lished In conformity with the great nat
nral laws.
New York may never possess 10 pc
cent. Of home owners, but the per
centage Is bound to increase enormously
and this movement will give to the out
lying sections vast sweep OF risin
values In response to the new home dc
mands. Earlier buyers OF homes an
sites In the suburban sections will be