New-York tribune., 1921-12-11
Biggest Boom
In History Is
Promised it.
Government Lifts Bar to
Realty Investment bv
Changing Present Form
of Taxation; Buying Is
Gaining Strength
@ Broom s.u

Charles F. Noyes holds the opinion
that the real estate outlook was uevsr
more romising. He firmly believes ths.
interest is turning to real propertT
and that we are at the threshold Of
great buying movement based on IN.
vestment rather than speculation.
The retroaction in stocks in the las.
few years, he believes. has turned !.
flood of investors in the direction q
real estate. Speaking particularly o.
down town conditions Mr. Noyes said
recently:
"The future of downtown real e..
tate was never brighter. Business cor
ditions generally are improving, srd
while the volume of business is not as
great or the profits as large as a fen
years ago, yet onditions are health
and the volume of business larper thsn
at any time prior to 1915 or 1916. Hari
times have not ONE to use in the real
estate business, but easy times havs
gone, and | hope those easy times viii
never return. There is little satisfs
ton in having more business than one
can properly look out for, or for 8
broker to earn more money than wha
he knows he is economically, Logically
or morally entitled to.
The departure OF easy times is the
exit for many wartime brokers, and as
never before the public to-day demands
the most intelligent and expert attea.
tion for the transaction of its real es.
tae business.
Barometer of Market Conditions
"The general condition of the real
estate market is reected in the follow
ing figures, but in this connection
would call attention to the fact that
the first six months of 1921 were con.
siderably poorer than the first six
months of 1920. Since August the
gain for 1921 over 1920 has been quite
marked, and the improvement as We
get toward 1922 is definite and certain
From January / to November l, 1921,
1892 properties were transferred or
Manhattan Island, as against 1902 for
the year 1920. ct will be noticed how
dealing in real estate slackened fof
this entire ten-month period.)
That business, however,, is improving
considerably is shown by the fact that
for the week ending November l 2Sa
properties were transferred in 1921 as
against 157 properties in 1920 for the
same period.
The assessed valuation Of the s,9e2
properties transferred for the first tea
months of 1921 was S510 156,949. as
against an assessment of 1894, ,272,ouv
for the same period in 1920.
For the first ten months of 1921 the
transfers where express considerations
were stated-as referred to heretofore
showed that the public paid sos'
573,347 for real estate assessed q.
S45, ,4S9,100 by the Tax Department, ana
the figures for 1920 were S101.6lS,us.'
for property assessed at SS5,50S ouV
showing in each case, as previously
stated, that property actually seiis
higher than the assessment.
Mortgage records are also interest
ing.
Six thousand nine hundred and Sky
six mortgages have gone orecord 10.
the first ten months of this year la
Manhattan, as against 9,551 mortgage
for the same period in 1920; S205,zos',
8S1 has been loaned on Manhattan rsai
estate for the first ten months OF tai'
year, as against S321 ,992,072 for the
first ten months of last year.
Greatest Market Ever, If
The best of all signs in the real es.
tate field is the fact that investors sie
for the first time in five years turhins
toward real estate for the employmep.
of their funds. One of these days ,ne
present system of taxation that nSs
driven money TO tax-empt securl'le'
dna taken it from legitimate invess
ment and business channels VIII oe
changed and sales tax or olhe,
method of taxation. will be found, anu
then we shall witness the greale.ss
real estate market that New York cls.
has ever seen, because whenever giveA ~
an equal opportunity with other -,
New York City real estass
has always been the most popular anu
the best. ..r-x
With the curtailment of bulldins
during the last five years; with dewi.,
town real estate very moderately NOR
gagged; with buildings paying nam,
somely and with few vacancies; WIN
cheaper money rates, and with business
undeniabiy better, hope
see at an early date a mg buying movs.
ment, not this time for occupancy pu.
the slogan will be Buy real estate III y,
investment" And this movement wa.
be of greater proportions than any
one dreams it can be just as soon a. a.
the high surtax charge is eiimina'eu
and our taxation method changed