The Connecticut labor news., 1922-03-03
RENTS STAY HIGH BUT HOME OWNERS
 ARE STUCK AGAIN
War Inflated Real Estate in New Haven Now Drug on the
 Market

Ii any argument were needed as to why rents in New Haven especially should come down along with the re- ported reductions in costs of other necessities of life, then the following special articler rfrom New Haven to the Hartford Courant should furnish it. According to the Courant cores pondent, those gullible persons who used their incomes during the war to buy real estate for homes have found that they are stuck and at now be- ing forced to dispose of them at a sacrifice. But read the Courant article as follows:
 "Reacting from war conditions, real estate in suburban New Haven is sliding. Real estate dealers admit it. So do men who thought to profit by placing their wartime salaries in real estate Investors in Westville property and in Whitneyville proper ty talk more about it than owners in other districts though professionals in the real estate business find the con dition existing all over town.
 Half the property in Westville seems for sale,' says an old resident of the district who is moved to the thought by the increasing number of for sale signs in his neighborhood. 'Whitncyville is worse, says the man who deals, in property there. He points to the record that shows a large number of second mortgages placed on Whitneyville houses of re- cent construction.
 "Westville is the latest addition to the city. One time home of 'Ik Marvel who wrote delightful essays. Westville maintained it's own schools, fire and police departments, churches and stores, all under the style West vile School District
 ".Before the war Westville was callirS steadily to the best families of New Haven who disliked tene- ments rising against their yard limits. Westville pointed with pride to new homes costing from S1o,ooo to $75,oQo rising on it's farm meadows.
 Then the war contracts came to New Haven and men were receiving without warning wages and salaries they never dared dream of in other days.
 The boom ended IS months ago, real estate men say, but before it ended POO homes had been erected in Westville. Incidentally fully as many were erected in Whitneyville, the dis tIlCI OH tic nOIlIlSlH cuSS OI tIle Slly. named for New Haven's first reser- voir
 "Records indicate that many man paid $I ,ooo down in cash on his new home in either district and secured mortgages on the rest, figuring he would be able to pay from high sal aries that would continue indefinitely. High salaries ended before the mort gages did and thence came the rub.
 Back in OctobcS 1920, certain citi- zens of Westyille foresaw changing conditions and arranged for an cleo ton to determine if Westville might like to join New Haven. By large maj jority the project was voted down. Then the change set in more strongly and in bare six months Westville held another election, this time annex ing itself to the city.
 New Haven assumed Westville's debts and promised protection of all sorts New Haven established a po- lice station there and put two com panies Of it's fire department in the district New Haven promised to build high schcel install sewers, and repair the shattered pavements of the district, which promises the city is keeping to the increase of it's tax rate and the disgust of central taxpayers.
 "Westville's new citizens, people who have settled there in the past five years, are offering their homes for sale Like the man who has bought stock on a margin most of the home owners are taking their loss