The Washington herald., 1921-09-18
LUCHS CONFIDENT
REALTY BUSINESS
IS ON FIRM BASIS
Declares Recent Heavy
Buying Indicates
Healthy State.

Morton J. Luchs, OF, the firm of
shannon and Luchs, realtors ana
builders of homes Is of the opinion
that the recent heavy buying of
home and business properties in
washington Is evidence of the estab-
lishment of a new and more healthy
business condition here.
Mr.. Luchs when asked for his
opinion as to conditions In the line
of real estate as indicating general
business tendencies. said:
Until about two months ago IN
was evident that logical buyers of
both residential and business prop-
critics were so lacking in confidence
that they hesitated to do even the
very clear wise things. Our nrm
was met on every hand by hesita-
tion growing out of a more or less
vague impression of an impending
drop in prices. But we found that
in each case opinions 81 this char
acter were backed merely by other
opinions, and try as We did we
could not find single fact to justi-
fy them.
Dimcuit TO Meet Demand.
More recently, however, the sit
uatioH hdS lldlly reversed llSelI, 10
such an extent that it is now no
slight task to satisfy the demand
for tho required business and home
properties. l do not believe that. in
the past fifteen years, there has
been a period surprising the activ-
ity of the real estate market during
the past forty days.
The fact Is that the people who
have always believed that il is most
comfortable and economical to own
ones own home have finally taken
the situation into their own hands
and faced the facts for themselves
uninfuenced by the opinions of
those who have no material interest
in the outcome of their investments.
These people have made up their
minds that present prices cannot be
subjected to any material deprecia-
tiOn and that every moment Of de-
lay is costing them money. 1t is
certainly fact that within the past
year many a Washington family has
paid enough in rent to make the
necessary origina. payment on a
home OF their own.
Desirable Properties on Market.
while it is a fact that practical
lly every builder in Washington is
having difficulty in keeping up
with the demand for new houses,
there are a number of very desir
able, fairly priced properties on the
market. With the distribution OF
these properties and such as will be
constructed IL is likely that during
| the next two years Washington
will be firmly established as one
of the prominent homecoming cities
of the United States. And I GER
tainly believe that condition to be
highly desirable both for the COM
munity and the individual.
The rental situation here is bad.
believe that the quickest way to
change il for the better is to permit
natural forces to have their effect.
IIt has been my observation that any
heavy demand has been met quick
lily by a more than sufficient supply,
provided the supply was not pro-
hibitcd.
Must Encourage Building.
I'm short. the only way to get
more rental properties is to en-
courage their production. am
firmly convinced that ultimately
this will be found necessary, and
that. until something along this line
is accomplished any number OF
families will be housed inadequately.
Everybody in the real estate
business, ] am sure, has felt the
optimism of the past few weeks.
believe it is a healthy optimism
built on a solid foundation of con-
fidence in the United States, its
people and its capital city after
long period of too much attention
to finely-drawn opinions"