The Washington times., 1917-01-26
Many Withdrawing Funds From
Banks and PIunging in Land
investments.
SHOWS NO SIGN OF WANE
Frequent Sales of Business
Properties With Consequent
Activity in Building.

That Washington is in the midst of
q rapidIy increasing real estate BOOM
is the opinion of the majority of the
real estate men of this city. Several
prominent real estate dealers made
the statement this morning that more
property, both business and residen-
tial, is being sold for cash at the pres
ent time than at any time in the past
five years.
This sudden increase in sales is at
tributed to several reasons: the feel
ing OF security since the election due
to the knowledge that there will be
no change in Government program for
at least four years more; the general
prosperity which prevails in the
country; the lowered rate of interest
now paid on real estate mortgages,
which is inducing the people to pur-
chase and wait for the boom, which
everyone thinks is due to come; the
losses which have been sustained by
spectators in stocks and bonds, due
to the uncertainty of the market, driv-
ing people to put their money into
something more stable where there is
little chance of loss: and a general,
unexplained investment fever.
Investing in Land.
]. D. Gardiner, of the firm of Gardi-
ner & Dent, said this morning:
There has been more activity in real
estate since the first of the year than
for two years previous to- that time Our
sales during the month Of January have
amounted to more than $4,000, while
for the same period last year they did
tot halt haN
to be letting go of the money they have
been keeping in the banks.
II think that this will be one Of the
biggest years in real estate in five years.
One good thing about the whole business
is that 1t means more money in circula-
tion. There is going TO be more money
for buildings, for the sales we are max
ing are mostly business properties.
Time Opportune.
There has been no better time in the
history Of Washington for a man to in
vest in real estate than just at this
time
Another dealer said:
Values have been down for the last
two or three years, and we now all look
for q general raise and a very substan-
tial one, more 80 in the District OF
Columbia than anywhere else. The
manufacturing interests have held the
values up in other cities. so we have
felt the decline more in Washington.
Our business for the corresponding
period last year wa sonly about 50 per
cent as great as this year"
Mortgage Interest DECLINING.
Mr. Stone, of the hrm Of Stone & Fair
fax. said that the rate OF interest on
mortgages has been getting lower, and
the people are investing in real estate
Mr.. Stone smiled when he said:
You see, the Democrats never ex-
pect to stay very long when they
get in here at Washington. Conse-
Quently they have not been investing
any money. But now that they are
here for at least four years more,
with q good prospect OF staying Ion
ger they are tearing loose from their
money"
Says Boom Will Last.
There certainly is a very decided
increase in sales" said ]. z. Powell,
of the F. H. Smith Company. There
seems to be a general good feeling
over the city. think We have done
100 per cent more cash business so