The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-14
Is 1t Wise to Invest in
Improved Realty To- day:

would affect his real estate holdings 50
vitality. a purchaser OF improved prop
erty to-day would buy innumerable law
suits and difficulties.
IF. however. the laws are declared
unconstitutional we then look for an
upward market. Between 1909 and 1913
the real estate market was In a con-
tinued slump and prices governed By
supply and demand went down TO the
lowest ebb. A legitimate boom took
place In 1919, and due to the greed and
aggression Of small group OF land
lords the whole field was condemned and
these drastic laws we're rushed through
al Albany. They divest the land
lords OF their all-time property rights
and they create q stagnat.on in BUILD
ing that has never before been ex-
perlenced I'm this city In fact. they de-
eat their very purpose. They have de
layed the renting season and prolonged
the shortage by preventing production.
We believe. taking Il for granted they
will be declared unconstitutional. tina.
purchaser would be unwise to wait FOR
drop In the purchase price"
In the opinion OF r. A. wyckofY. vice
president OF the Wood DolSon COMPANY.
Inc, one other thing besides the over
turn OF the rent laws is needed before
he real estate market is restored to
fun vigor, and that is a general clean
UP IN the building industry. He says
New York Is the centre OF the bust
ness world to-day. the greatest city OF
the greatest couutry-great in its 10000
population; great In its tremendous
wealth; great Ia It's hundreds OF miles
OF water front and In Its possession OF
El,ooo.0O0,0oo worth OF assessable real
estate which will pay into tho State
and city treasures In 1921 approx
mately sSSo.oo0.00o In taxes
Under such conditions improved rem
estate In New York should DO and Ia
a most attractive investment but OWN,
to the drastic laws recently enacted
by the legislators. bordering on tho con.
tiscauon Of apartment property ami
the reckless expenditure OF millions
the government. builders and lnve
vii rall halt until such mstg-rv ga
remedied. M
Looks for Active s-rirea 50 iy9f.
with final der'0n frorn tho a.xa.
est courts as fhr -cc0nsiitut iooalry
Of tho Law to-clEh houH1cie@ning
In the 'tl.rE 7ar induatfy and con
struc. 1rrLaucn 'n ne next see
sion. zoos Tor neat Gctive real es-
tate ma rith The beginning Of tho
new year th no decrease In values"
Frank re- third vice-president o,
the Realty associates OF Brooklyn, dc
clares that tho scarcity Of living &C
commodauone will keep up prices
whether the rent laws are overturned
or not. II Is these very rent laws, be-
maintains. which have conduced 70 stop
building and are therefore automatically
forcing up the price OF tho existing
structures. lie says:
% the home buyer, or take the risk Of pay
Ing more later. Our view Of the real
estate market Is that there will be no
general drop in price while the present
undersupply OF houses continues. and
according 20 reliable estimates this short
age will not be made up In less than
seven years.
Building construction for several
years past has been far below normal
and the new rent lave have the effect
OF further dlscouraging building ard
thus making the shortage worse
The scattered reductions lately IN
building materials have resulted from
temporary surplus IN tho hands OF the
local dealers such as frequently happen
at this season OF the year. but which u
mainly duo 20 tho stopping OF building
operations The cost ~ producing thcss
materials. however, has not come down
and IN the spring II building Is resumed
on any considerable scale the prices OF
material will be much higher than now.
Tho greater the number OF buildings
erected next year creating demand for
materials the higher the prices viii so.
and consequently the builders will have
20 charge more for their houses. Labor
conditions have not improved and nv
not likely Co.
several commodities. Including cYtth.
ing, have declined IN price recently. tho
500 sou being an oversupply and re-
duccd demand Exactly the oppo site con
lltion prevails tn real estate. and more
aycr tho price Of real estate has net
tdvanccd above the pre-war levels 90 tro
Same extent as these other commodities
nd thus there IT, less likelihood % us
declining
''Prv now--dont wait. Is our advice -
the home buyer. or take the rick % pay
ma mere lstsNr