The Connecticut labor news., 1921-07-22
SKIES MAY FALL BUT RENT COSTS TO
 STAY UP FOREVER
Even Though Public Is Becoming Impatient Dealers Even Predict
 an Increased Rate.


 Now that it is generally admitted that the peak of prices has been reached, and that the tendency from now on must be downward, the ulti- mate conSumer-So long the butt ol all economic jokes-is wondering when various essential commodities are going to start ragging the scales downward. l|oodstutfs generally clothing and many other staples have begun a downward movement al ready, and their fall is great enough to be discernble. But rent in Con necticut, standing equal in import anCe with food, seems, except in un- usual cases, not to have responded to the lower movement at all. In some cases, as a matter of fact, there is even some demand for an increase.
 Apartment Rent Lower.
 The one exception to the rent rule has been the high class apartment house. Two years ago, and as late as a year ago, smal apartments al the select residential districts were pro- portionately as costly as raRun. What was more, despite the lofty rates, there were not enough of these so-called high class apartments to go round But now it is somewhat diff ferent there. For there are some Ot these apartment houses which are not now filled to capacity, and the old un- changing law of supply and demand has consequently brought about a re- duCtiOn i'll rent.
 But these apartment house reduC- tions are nothing to cause the observ CT to exclaim that the financial train has at last reached the station of nor malcy Far from 1t. In many of these apartments the rents ran some dollars over the century mark per month, and although they have drop ped in some cases as much as 20 per cent. they are not back 10 the pre- war basis.
 There is, however, one element which must be considered before it is known whether or not the high class apartment rate is permanently on the down grade. While many such apart ments are vacant at the present time, it has been pointed out that one must consider that there are many people who might occupy such apartments who are now at the various summer resorts for the season. Once upon a time a family might retain the apart ment while they were at the shore, but in the words of the late Mr. Doo- ley, Them days has went" With the approach of fall, when families return to the city, 1t will be known definitely whether the demand for the high class apartment house is above or below the supply, and only then will a definite decision on the matter be reached. But the tendency now is toward lower rates for this type of dwelling.
 Two-Family Houses Fall.
 Real estate men have been able to see no change in the rents for what might be called the average dwellings. Also, 1t has been said by several of the most prominent real estate men that there is no over supply of two- family dwellings, of which there are practically no two-family dwellings, unoCcupied. The same holds for the single dwellings in other than what residential district"
 There has been no reduction of rents for any of these two-family dwellings or Tor any of the single family dwellings similarly situated. And no one could be found who seem ed to think that any reduction here was probable ln the near future.
 One real estate man who has large holdings seemed to think that the rent on the average dwelling would be in cerased before long. Tt is due, main ly, to to the ne Wstate grand list" he said "All property was valued at a tremendously high figure in the grand list, and the tax rate IS not low enough to make up the difference. As a result there IS placed upon the property owner, at a bad time, an in creased burden which he is unwilling to bear. 1 do not. see how we are going to escape higher rents in good many quarters"
 This dealer was also inclined to think there might be more building if the banks would loan money more
 How do you plan," he was asked, "to boost rents when wages, and al most everything else, are coming down Will not this be a rather diff fcult thing to do?"
 He admitted that it might be some what difficult, but said he thought it would have to be done.
 The reporter read to this man the following thought from an editorial which appeared in a Boston paper:
 Landlords cannot afford to 'crowd' their tenants too hard now; tenants know that, if they move, they will be able to find the shelter they appre- hended they might not be able to secure six months ago. The wise landlord who has a tenant who pays fair rent will do well 10 keep him satisfied instead of raising his lease"
 Then the interview ended.