Every evening, Wilmington daily commercial., 1919-01-18
REAL ESTATE
SITUATION HERE
Conditions and Outlook Discussed
by an Authority on This In
teresting Subject.

>oilAlitibllS iltti NJultooh I>loNhoeNN
by an Authority on This In
teresting Subject.
According to Daniel Cauhiel, head of
the real estate department of the du Pont
Company, If YOU have sold your house at n
profit during war times, you VIC lost. Hear
the reason of this paradox A man might
have bought fairly nice house SIX or
seven years ago for S5 100 He sold that
as did man MIR Cauflicl knows, and got
81 800. thinking thereby he had wrested
extraordinary profit out oi his house.
but when he went To buy another house
he was asked to pay Si5,nn0 Tor house
that was not rs good as the one ne had
just sold for 81 800 The result was man
out OF several thousands of dollars he
cause he had not figured before ne H"ld.
Some house owners, on the other hand,
sold their houses, with the intention oi
getting, IN some cases, @'fiVu more III
profit than they could ordinarily get ana
gong boarding After the war, they IN
tended huylng another house. when prices
had gone down These persons are likclY
to find themselves established IN boarding
houses for some time II they wait tor
prlccs to 90 down. because. according To
thos,. who have their finger on the INDUS
trial pulst, of Wilmington. real estate prices
Will stay high Newborn Industries, rs
well as old are gong to hc ulTscd along
carefully. until some of them will grow
INTO ,oung giants The great measure oi
industry that has come 20 Wilmington III
RESPONSE to wars demands. has come 10
STAY. The du Pont Company IS starting
numerous new branches Of industry 10
u>c tie apparatus, material and men they
have nov. rs a surplus from ihclr pow d
plants They have already invested mil
lions IN their dyc industry, and ar gong TO
develop u further, and hope to establish
thu, dv,. industry III Amenca beyond con
truvCrSy and against foreign control ~
course. some oi the mon Will bc discharged
from the powder plants, As some already
have been New industries could not
accommodate All tho overflow But Il has
hccn reported that while IN Other critics,
here there has been abnormal war
activity. hero is now q great labor sur
plus IN tho ratio oi FIVE men to one goh,
there Is no labor surplus felt IN Whining
ton Is some IaborciS leave tbs city, To- 70
back to Their homes IN the West North or
South, or wherever thcN bad been re-
rruitrd. rents Will @ down. but the prices
Of houses il Is expected, viii stay ap-
proxImatCly the same Another factor
that may lower rents IN Wilmington, Is the
movement 10 get mon Who work over at
Prnns Grove, arucN Point and l)ccp-
water. Ia move across tho river.
The IA Pont Company faces m almost
un,cnIc situation III CarncvS Point and
n,rpWatcr. over night one might say,
thousand, II shaci1s and houses were put
III. to accommodate the tremendous IN
tluN uf labor that could not bC housed ~
Penn Grove or Wilmington, or nearby
suburbs. Oi these house, some - them
are not vcrV ccmtnrtablc some 81 them
are Most Of them haVc modern con
y,nicncc~, heating from the central heat
my plant Of the company, and some
electro lighted with hath and open
plt,tnhlng \ou. the COMPANY has q great
number III those ho,Ie,,~ irf' ON IfS hands
some III them, the better grade structures
~uch ~ .tIpcrvISor village. etc Will hc
lcit int tho others viii hc torn down.
\ waste oi material ana Labor hut there
is nn other use Tor thgm
r1osE WHO rRoFrFp
Tho rel estate dealer who has made
mauc, .l.rlrA the recent abnormal IN
cr,l~,. Ir prl,cs. il The man y ho had on
hand several houses that We're hulit. say
faui ar TIVE wears ago, before building
plgc,s wcIe - high and sold them at War
fcl,r.S Several dealers have made ROM
tort ..hl,, Sums that wav But there WAS
no oc>tranrelIuary profit in nc game for the
mon who had IL build with building ma
,eral7 and labor lit war prlces. even I he
ruaiiy sold his house Al war prices. rs
result although il might haze been eX-
T-.ctrd ;ha. there would bc 2 great nUm-
ter uf houses put up IN response 10 the
demand the proportion nt he uses erected
during the past two years las been very
much smaller than before the VAR ScaTcl-
~ ot labor. and ttlc t.Xrcedinoi> nigh price
ii labor and materials, made building
practically prohlh.:ivc Nhilc tive years
800. SO wnuld buy 900 building bricks,
i takc5 So 10 buy that number NOW
I.aFor has gone NJ 100 per cent and wood
300 and 400 per cent There have been
some big deals PIT across, where fabulous
sums were demanded and gwen when
certain piece uf land was needed Onc
| blg concern recently bought a stfip oi land
/ for So 900 900, that no one not wanting 1T
for a specific purpose, could he induced 10
nay $4,000 M0 for One real estate man
made SO 600 more on DIece Of property
recently sold thar lie would IN ordinary
times, because thc buyer needed il 50
badly He came to :hc real estate owner
and offered greater price, cf bis own
accord than the owner had thought Of
deInsnilng and a the real estate man
SAID IF hc WAS foolish enough 70 offer It, ,
know enough 10 take It
FLUcTUATroN ~ UE<T-.
Rents have been high, first because Of
the Unsuitable demand, and secondly be-
c;iu-, Of the upkecp of IN apartment house
has gone up Repairs cost more han