The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-13
GOOD REALITY MARKET
DEPENDS ON LEASING
With Building Stopped There Is Chance
For Recovery If Present Vacan-
CieS Can Be Filled

w. ..c summer vacation season
o,sr aud with those returned to the
~, or within easy reach who are in
vested IN 'h. local real estate market,
m, b.torm'nt ~ conditions IL To- be-
vns,.cd during the next few weeks.
Real ce.'a's n,n. especially brokers. are
,ord.rirs lust now how extensive that
ist,.rm.ut vii b,. VIII the temporary
.,srnas. NJ lnvcstm, NJ in other chan
a.s 'I-r some of tho cify's surplus
INITIAL mo real estate? VIII tho pros
,o.- NJ A great advance In the commerce
rms port and Of the city's becoming
tho leading financial centre Of the world
a.t A. a stImuldnt 10 real estate Invest
r,nf7 or 's II likely that real estate
will merely marx time until tho up
he,,s' IN Europe is At an end and then
TAX. ,'s chances with other branches or
business .u attracting enough capital 10
mako Tor fair activity?
II 4, possiu,, among tho many mon
,r the city Who follow tho real estat"
market 70 fnd opinions both optimistic
and n,ss.mistic and In all shades Of
bo,1. Il Is the general belief. however.
that real estate is in for another long
pariod Of depression, which gradually
Will be relieved through the renting Of
much 81 the vacant space abou; the
NV now available for business pur-
noses Recent activity In the renting
branch coupled with the temporary cur
,srrneni Of building are the reasons Tor
this belief.
There is no doubt that under condi-
lions which ed even before the Eu-
ropean war started the realty market
could have made little immediate prog
ress The war, coming at time when
ros. estate naturally was passing
through It's dullcst period, allowed no
opportun.ty for telling what the broader
effects Of the conflict would be as re-
yards local property one immediate
effect was 81 course the practical stop
nage Of building loans but because OF
an oversupp'y of rentab,c space In prac-
tlcaIly all kinds az buildings in nearly
ali PARTS os the greater city that state
q affairs was coming about naturally.
Us long aso as one year many of the
arge lending Institutions. foreseeing
heir nurses and refused to open them
'or any builders who were not able 10
.hov that structures FOR which they de-
,,red loans were actually In demand ann
would not conflict with other similar
puldngs which had already been
financed
Still there was enough money to be
1ad from various sources TO keep on
f~ work Of building more space Tor
ion; thereby keeping the available sup
ply 20 gred. that few properties mad
- chance TO get on anything like pay
ny basis Now all building has
stopped Not only has the planning OF
new construction been discouraged 10
such an extent that IL has stopped al
most entirely, but many operations
planned during the last few months, to'
which financial plans had already neef
worked ont and loans promised, nave
been abandoned temporarily with nc
prospect OF being revived until those
who control the funds are sure II WI!
be sdfc % proceed.
Nia.ng could have been more FORTH
nate for the realty market. and II th'
war is 20 be- held responsible for thf
condition then In" war can be ssln u
Navs resulted in al least some good
ul,r conditions that prevailed prior
., tho shutting down OF the huildins
.narket d break Was in sight. for 1t Wa
financial impossib.llty for many
rIOider, o. carry much longer the bur
aens thoy had in practically empty
+ structures II IL a well known fac
lat many lenders would have called
their loans long ago had they not rel