The New York herald., 1922-01-16
ONLY HIGH PRICED
FLATS MAY GET CUT
Continued from First Page.

further reductions IN this sort of hous-
ing untf the latter part of 1899. when
the renting market will begin to feel the
full effect OF the present building wave.
which Is gaining In momentum in the
outlying boroughs.
Many of the houses now under way
will not he finished until midsummer and
early fall. and II will not be until some
time after they are dumped ON the mar
ket that prices will begin to sag again.
Unless something serves to impede the
progress Of the building boom the repeti-
tlon of this dumping process year by
year will eventually beat the rent scale
down 10 something near normal. Au-
thorities scoff. however at the idea that
there will be anything like a return to
the normal rents of 1919. Reside tho
holder OF such a theory. they declare, the
man who thinks nc has solved the prob
lem of perpetual motion is q model OF
sanity,
Some hold that the imitation in the
cost of all other commodities. including
labor and building materials. together
with the constant jaclSing uro OF taxes
make the return Of prewar rents an ut
ter imposslhility. Others say that happy
eventuation Is only matter OF time. but
that It win require eight or nine years
at the least.
Still Soaring In Chicago.
Special Dispatch TO THE NEW York HKAALp.
CHICAGO, Jan. 15.--Rents In Chicago
to-day are 25 per cent higher than they
were two years ago. This applies to
detached houses in better neighborhoods.
Apartments that rented for SIS two
years ago rent from s1o0 to $3.50
month to-day.
Apartments have AWAITED from 1S to
so per cent. q month over year ago
md house rent avera ges $50 to i75 per
cent higher than year ago. In the
tenement districts and poorer neighhor-
hoods OF the west side rents have ad-
vanced only about 10 per cent. over two
years ago.
Higher in Cincinnati.
Special Dispatch 70 THE NEW YoRK HERALD
CINCINNATI. Jan. 15.---Tenants Of
houses In Cincinnati are paying higher
rent now than year ago or two years
ago. according to real estate men. SIX
room residences which were renting al
$3s a month one or two years ago now
are renting at $40. These residences
have no modern conveniences such as
hot water and electric lights.
Five room apartments that rented
at SIS several years ago are now rented
at SIS a month. Two rooms with mod
ern conveniences which rented at $l2
month one or two years ago now hiring
SIS. Houses containing three rooms
which formerly rented at $l2 month
now bring from S14 to s16 In many
instances. Tenants pay for repairs and
wall papering
Proportionnte increases havo been
A. ,f nj fntfl
houses and apartments. "A five room
apartment In a desirable neighborhood
which year ago rented for s65 now
brings $75.
Up 10 Per Gent. In ST. Louis.
Special Dispatch to THE NEW YoRx HIwALn
Sr. LouIa. Jan. 15.--Rents In ST.
Louis are approximately 10 per cent.
higher now than they were one or tw.
y ears ago, according to realty men. The
situation Is somewhat different from
other cities since there has been little
building In the time mentioned.
Realty men look for spring to bring
a building boom and. an q consequence.
lower rents
High Record in Pittsburgh
Special Dispatch to TEs NEw Yoxx NiEsALD.
PirrsBURGH, JAN f5.--Housc rents In
Pittsburgh and its suburbs are higher
now than at any time In Its history,
according to real estate agents Rents
were placed at an abnormal figure on
May I, 1921, the beginning Of the fisca!
year for leases In this territory. lndica-
tions now are there will be no reduc-
tion during the present year.
few Idle apartments and houses
can be found, but the rents of these are
exorbitant and beyond the means OF
most people. While rents advanced
greatly In 1920. they reached their peak
last year. Real estate men say there