The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-13

Of realty have been made by those who
did not wait until the market started to
rise and prices advanced. but who took
over holdings at Just such times AZ these.
when values were at their lowest. Ger
tainly better opportunities never were
presented FOR obtaining property at rock
bottom prices, but with many lines Of
industry paralyzed by the war and many
large corporations passing dividends II
Is hardly likely that there ~ill I've enough
free money for some time to take ad-
vantage Of conditions. What tho mar
ket has needed for more than year l.
"A strong Investment movement. which
seems az remote now as does u great
general business revival.
While the countryS business is get
ting back to "A money making basis.
however, Influences are AZ WORK which
are strengthening local real estate. The
renting OF vacant space has been re-
ferrcd TO. Next To that Is the pro-
Cranme OF economy which tho city has
adopted. which Is likely to result i'm a
continued decrsiS, in the tax RAJ. In
ability to borrow large sums on bond
issues coupled with natural desire
to save az much IN tho city treasury
as possible has brought about frtIgality
which has not been seen in many years
and delights the real estate owner. on
how little money the city can get along
~ now to be seen. and the record for
the next year viii be retained a. evil
dence by property owners hereafter
when they discuss tho budget with the
city fathers.
Probably by the time active trading
in real estate il ready TO resume many
of the evils OF inspection and regulation
OF buildings OF which owners have COM
planned bitterly during IN" last year
will have been removed. such universal
support IN being given the plan TO unite
under one head all departments that
have to do with inspection and rcgula =
ton OF buildings that II seems likely
to be carried to success. A department
OF the type planned would eliminate so
many OF the annoying features OF prop
erty ownership as To make the owning
OF real estate a pleasure rather than a
care. How many excellent investors
have boen turned away from the mar
ket simply because Of the annuyances OF
/ ownership never Will be known. but
every broker In the city probably can
tell of at least one commission lost
because OF the never ending chain OF
regulation and inspection to which prop
erty has been subjected In the past.
! There seems a fair prospect too that
the labor laws viii he changed soon
regarding certain requirements IN low
on-fireproof factory structures. a.
placed on the statute books some of the
regulations spelled ruin for many own
ers. and they did their part In stopping
real estate investment. Changes pro-
posed which f. is hoped the next II gis-
lature will accept Will give justice tc
! all owners and while providing for this
protection OF life and property Will pre-
vent the destruction OF equities
While the outlook for the 19I4-1l
season In real estate Is not especially
gooc II cannot he said 10 be withou
promise. Certainly New York city rea
estate IL in no worse condition thar
during the last year. In fact with th'
supply of rentable space limited, thougl
great. and with the city and STATE lend
ing their help 10 better conditions, tn
prospect is remarkably good of rea
property getting back 10 that poin
where 1t becomes an attractive inVes,
ment. During all the years that rea
estate did offer superior attractions in
vestors we're found for II withou
trouble. Perhaps the same thing vii
again come to pass Certainly ever.
broker hopes so.