Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-05-06
NOTES OF BUSINESS IN
RICHMOND REAL ESTATE
The Long-Drawn-Out Dizziness and
Some OF the Reasons For
Jt-Patriotic Agents.
REALTY MONEY BUYS BONDS
WouId.B Investors Advised to Trade
With Uncle Sam Instead, and They
Take the AdyiCe-Somc Business
Nevertheless.

ASK any Richmond real estate dealer
about the realty market. and the an
Swcr viii be prompt. nothing doing.
They have been max ,ns that answer Tor
moro than n year. II is not exactly
correct. for there is always something
doins in Richmond dirt. but tho bust
ness FOR the pas, several months. 70"
eighteen months, in fact, has been so
far below that which Richmond has
been used TO. II really seems 10 the
wid--awakc, hUStlinG real estate agent
that there is nothing doing.
For the past month the trading in
realty has been even dullcr. and shis
may be attributed largely TO the pa
triotiSm OF The real estate agents. for
they arc indeed a patriotic set. For
the PAS, month the ascns have been
advising their clients who happened 10
bc making inquiry with III" view Of
huyinE realty a. an investment. 10 buy
Liberty bonds instead. and they freely
gave this advice in tho face Of the fact
that ,hcv had no bonds to sell and that
when the client took the advice they
lost commissions on a possible sale ~
Richmond or suburban dirt. No class
of men in the city has been more &C
tive in pushing the bond buying and
bond selling drives of the past month
man the real estate agents.
as follows: ~, is true that men who
arc in the habit of investing their say
inss in real estate TO hold as SAFE
investments that will in time of greater
or less duration bring profit. have
simply quit, and arc investing that
money in bonds or in something that
war conditions have brought about
some Of them find quicker profit in
some new enterprise peculiar 10 war
times; some have actually given OUT
right TO Red Cross work or some sucn
work the money that they would other
wise have invested in city or suburban
lots, and some have bought bonds and
war savings stamps with every cent
that they otherwise would have IN
vested in lots or in houses. MI ~
these things have conspircd 10 lay the
real estate business on tho shelf :or
tho time being Everybody knows tire
real estate will stay here and can ~,
traded and spcculatcd in and built
uron later. il tho Kaiser docs have :.
say in the matter. In that event there
will be mighty little chance for real
estate or anything else in this country
for lifetime to como. and 50 the
agents, as well as tho mcn who buy
and trade in realty. arc just now Civ
ing all of their attention 10 deNiSinE
rays and means to down tho kaiSc.
and keen him from having any say
in anything that pertains TO the well
fare Of the country.
That is ono explanation, and cor
rect one. Of the realty dizziness. Yet
another. AS given by q Main stree
agent. is that the small homo builders
as we'll as tho larger ones, have calico
of all purpose 10 build until luu he'
and other building materials got down
from the sky-scrapinc heights that war
ricd them TO. The high cost Of labor
the high cost OF everything that goes
into the makeup Of a cottage or a
bungalow. or a moro imposing resi-
dencc. have simply put tho home build
ing proposition out OF sight for the
time being. and so there arc no bidders
for building lots for residential pu--
poses. unless glazing bargains come
in sight. and TO holder O; realty IN and
around Eichro-i is sacrificing any
ground Right VOL .aay know wEa'
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