New-York tribune., 1921-11-20
Realty Buying
For Investment
Is Predicted
yig Well Whs Of Fifth Auenues Shopping District Reward with
Great Purchasing Movement
Expected as Result of
Breakdown of Values i'm
Wall St. and Other Fields
By Charles F. Moves

New York City rcal estate has proved
Its worth. It has come through the
past three years of uncertainty with
added prestige rs the premier of all In
vestment commodities. BY its strength,
when actual investment buying was
lacking, due to the iniquitous system
OF taxation at Washington, it has DEM
onstrated that there is no investment
IN the world that compares favorably
with it. While large losses have bssn
taken by investors in stocks, bonds and
other securities, the losses by owning
sell selected real estate have been prac-
tically nil. While dividends from
stocks--preferred and common-havc
been greatly diminished or passed en-
tlrely, we'll selected real estate has
been earning day in and day out sub
stantially the same conservative net in
comesas heretoforI and, in many cases,
Increased earnings have been shown.
have always believed 100 per cent
in downtown New York City real estate.
Limited in area, anchored by our big
financial institutions and our ex-
changes, gaining in value with the birth
of every baby and the arrivalof every
immigrant, there can be only one price
tendency, and that tendency must be
upward
In this rush of business how few
pause long enough to realize our ever
increasing greatness and Importance.
Ny experience in real estate has been
hut that of a moment-less than
twenty-four years-yet what wonderful
changes have occurred in this short
span of time. If older men and repre-
sentative men in the real estate field,
such as Charles S. Brown, Robert E.
Bowling or Henry Morgenthau were to
oil not
wise of this magic city they would
leave a heritage welcomed by many.
The tremendous increase in property
values that they would show, the for
tunes made by small investments not
many years ago, would read like fairy
tales of finance and profit. The Astor,
Goelet, Gerry, Hoffman, Wendell, Rupert
and Ehret fortunes were interviewer
with the buying and keeping of real
estate.
New York of the Future
My point is this. What will New
York look like fifty years or 100 years
that this city of ours is to-day only an
infant, not yet a child as time goes.
We know that we have to-day approXi-
mately 100000 people What will we
be in twenty years, with perhaps 10,-
O00,000 in population; in fifty years,
ETC.?
To-day New York rivals London. To-
morrow we must outdistance all be-
cause of our geographical location, our
wonderful harbor and the natural re-
sources of our country.
These are the fundamental reasons
for the continued growth of downtown
New York real estate These are the
reasons that while other investment
commodities are crashing downward
New York City real estate has been
firm and is to-day the best of all in
vestments and. the most strongly held,
although on account of the iniquitous
surtax system of taxation many big
investors have been driven from the.
real estate market and feel that they
can only afford to buy tax-exempt
securities. Statistics are always dry,
but when concisely presented are in
teresting. The following table shows
the steady appreciation of New York
City real estate from the year 1902 to
1921, all boroughs: