The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-10-23
cITEAARON BURR
CASEASEXAMPLE
OF REALTY BOOM
Says Shortage of Homes
Throughout Country
Brings Popularity.
REVIEWS SITUATION
Logic Of Home Buying Is
Reinforced by Higher
Considerations.

slider as an Investment other than
stocks and bonds. asks Realtor For
rest Adair, ST., in the National Real
Estate Journal
Every progressive American city
mas Its real estate barons indivi-
uuals or families whose land hold
lhss were caught out in the city's
growth and whose farms were con-
yerted into city lots and business
locations. The most spectacular
Ease of this kind is the famous
aaron Burr farm on the outskirts Of
oio New York City. This rocky
Idrm lying far up Manhattan Island
was bought by one of the Astors,
ana after being held q while was
reached by the rapid growth of the
city In that direction. Confined
within the narrow limits of two
rivers, the great city which could
not expand on either side was fore
go TO grow northward, and the
aaron Burr farm grew into city
lots Its center was about where
the Waldorf Hotel is now located,
and II contains the principal theater
and hotel district in New York This
famous piece Of property became the
foundation of many of the great
Good Investment.
1T Is a matter of record that
more money has been made by the
rise in value of city real estate than
has been taken from all the mines
in the world. II property has
tendency to rise in value, why is
not a home purchase a good invest
ment? Such Is the claim made by
real estate men today. They make
the statement that judiciously Sc
lected property within the improved
limits 70 a well-estabIished munic-
ipality is a sound purchase looked
at from an investment standpoint.
Real estate men make the addi-
tional claim that the investment
which they offer for sale has one
advantage, over all others IN that
the buyer can live in It.
"The shortage Of homes that exist
all over the United States has
brought about a peculiar situation.
Many people OF wealth have no
where to live. This condition was
well expressed by a well-to-do in
habitant OF a city Of 100000. He
said, I own stocks and bonds,
money and an automobile; my wife
has diamonds. but we have no place
to sleep
Tn all cities there was not an
empty house or empty room: this
state of affairs which prevails in
every city and town in the United
states brought about a home buy
ing movement Of unparalleled pro-
portion.
ct takes expensive labor to turn
out brick and building stone. Such
items as plumbing material, electric
wiring and heating appliances con-
stitute a large part in the cost OF
building a residence; these items
show little tendency to become
:" at one time ii looked as II
cement could be substituted as a
huIlding material to lessen costs.
but II Is found that concrete houses
are much more expensive than those
built of lumber. With the govern
nent embarked on a system OF
Highways. to reach over the entire
country. there Is no likelihood that
cement will be much cheaper.
THE logic Of home buying Is re-
Enforced by higher considerations
aside from its material advantages.
There Is the effect on the character
Of growing children: the institution
known as the family. and the ideas
expressed by 'neiEhborhood' and
community A home owning COM
nunfty Is sought after and recon-
n1ended. Il being automatic that
such a community Is more desirable
than one of rent payers. Flat
dweIIers miss the great things Of
life. above all money value Is char
acter founded on the best tradi-
tions Of childhood in good home
surroundings.
sturdy American manhood Is de-
veIoped and matured in the indi-
vIduaI homes Of this nation. A
symbol Of the thing sought to be
obtained as the ultimate purchase
~ savings is the little cottage with
a green lawn in front. a trim garden
Z, the rear with vines clambering
over a trellis. and tiny footsteps
pattering TO the gate at twilight to
Meet a contented working man.
one with such a home IS rich.
''But we have wandered far away
from the money value OF homes.
drawn into a consideration OF things
that mean more than money. Go
ing back to rhe material aspects OF
the question. Yet US consider what
enaIlv becomes Of the homes pur
chased with savings.
MOST Of them grow into business
nroperty. Every American city Of
100 mo population has contested
business center constantly expand
Inx-reaching out into the near-in
resIdence zone and absorbing resi-
S.,ra property"