The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1921-09-28

necessity arises
Admittedly building costs are lower.
Building materials have come down.
labor is more efficient and Will be paid
less. money rates are easter.
So the public argues: IF l can re-
place my house for less money than 1t
cost me two years ago, l will sell and
build again.
BUT HERE IS THE RUN
You sell your house and think YOU
have made some money. You go out
10 buy lot and YOU find lots scarce.
You price them in the older subdivis-
ions and you find that the price has
jumped away out of sight You pay
enough more for your lot and YOUR
new house even at present prizes TO
make the cost about the same as the
house you sold.
or course there are exceptions in
parts of the city such as the north
side where prices have never become
stabilized and much property Isl offered
for sale. But take the newer south
side and prices are firm with an enor-
nous demand
All real estate dealers find that the
wise ones who thought they would
hold off until prices got cheaper are
coming back into the market and buy
ing. They have given up whiting for
lower prices.
You see lots of real estate signs on
lots. You don't understand that Well
when there was no demand for lots and
the occasional purchaser could go out
and pick up site anywhere. The real
estate dealer did not think it worth
while to list vacant for sale.
But recently every broker mas sens
ed the enormous and almost frantic
demand for residential vscant Accord
ingly they have gone out and listed
every lot they could find and have put
their signs on them. Thus it appears
to the public that there IS much vacant
offered for sale. There is less vacant
offered for sale but every lot that Is
tor sale has a sign on it
Real estate men say positively that
except in cases whese sales are forced
and must be made quickly to the irst
buyers that prices are holding up to
the moderate level that has been al
ways maintained in Hammond
HERE IS A WARNING
have said that Hammond real estate
values are now. They are. Residential
property is cheap. Lots at present
prices are cheaper than in any other
live city Hammonds size.
But here Is what is going to happen.
Let the money market continue TO ease
up. Let materials continue to come
down. Let labor get back into the
swing with high production and reas-
enable wages and you are going 20 see
the greatest building boom that the
country has ever known.
The housing shortage in the United
States is not confined to Hammond. 1t
Is country wide 1t is estimated that
this country is 100000 houses short.
Let reasonable prices all around pre-
will be in the midst of a building
boom that will develop into the coun-
tries leading industr$-
Then materials. and money and la
Dor will start up again. Real estate
vacant will be absorbed and new sub
divisions will be required. Prices OF
lots favorably located will soar. The
city will expand II. un-dreamed of
proportions and those who want homes
will have to pay the price for their
procrastinatfon
Hetty Green. that wise old girl who
piled up millions said: I buy when
others are selling and sell when others
are buying
But the public is not that way. The
public does not take advantage of con-
ditions of temporary depression to pick
up snaps. The public usually waits
until the thing it wants has reached
the peak. whether II he real estate or
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