Evening star., 1923-12-01

conservative index of American busi-
ness conditions has been more active
during the season just coming to a
close than during any other season in
the business history of the continent,
according to survey of real estate
conditions generally throughout the
United States and Canada just COM
pleted by the National Association OF
Real Estate Boards.
The rent situation nationally. as 1t
now is and as its outlook indicates;
the national housing situation. the
building situation, with it's important
relationship to all business activity;
the labor situation, with which 1t is
knit: the present marked suburban
movement In the growth Of American
cities, and the money supply for
financing real estate development Of
all kinds. are reported on at hrst hand
from every section OF the United
Findings Of the survey. conssitut-
Ing careful baTometric reading for
basic section OF American business
activity, are based on reports OF con-
stituent real estate boards In 240
cities.
Future Prosperity Indicated.
Approaching stabilisation Of several
OF the factors that underlie the pres
ent unprecedented national real estate
activity Is indicated. the survey finds
While It Is impossible to predict with
certainty the course the market will
take In 1924, the situation at present
seems to point to q continuation Of
present activity. and there are some
indications that 1924 will surpass the
present banner year, the summary
states.
Indications found OF interest to
renters. property owiiars. investors,
BUILDERS and to students OF the gen.
eral business trend are as follows:
]. More transfers OF real property
were recorded and more buildings
were erected during, the flrst nine
months OF 1928 than during the same
period OF any year In the history OF
the American continent.
2. Rents have increased largely the
country over. both for business and
eral they are becoming stabilized at
the present levels. Residential rentals
show the establishing tendency more
strongly than business rentals. The
stabilization in cities OF over 100000
population, 72 per cent Of which re-
port residential rents stationary.
g.. Rents are following the course
Ing to the most authentic index of
living costs rents are now rs points
higher than other commodities, pres
ent rents are low compared with the
cost of construction. Before rents
q decrease in the cost Of building.
4. Great inroads are being made
In the national building shortage
which was 50 pronounced after the
war. Shortage Is most acute appar-
entity in the east and far west. There
is prevalent throughout the reports
the impression that the supply OF
housing accommodations and ousi-
ness structures Is about to reach
and demand.
Small Dwellings In Demand.
s. The greatest demand at the pres
ent time In the real estate market
is for small single-family dwellings.
Sixty eight per cent OF the cities re-
porting indicate a shartage here,
whereas only 81 per cent report
shortage in apartment houses Only
- per cent report a shortage In ous-
s. Amount and value OF building
has been extraordinary,
making 1t safe to assume that the
increase Of % per cent over the rec
ord year 1872 maintainea, hrss acSoIsimg &c shog
statistics, for the first six months
of 1928. will be fairly well main
tanned for the whole year II not made
still greater. despite the failure TO
top Last seass sss Clues asas sn:Wesng s2s
state that with all the tremendous
there Is no overbuildins
of any kind. =,
8. The suburban movement nov. It.Iv In the ne
present day city growth, Is. zen.
orally speaking. greater than last
year. and Is likely to be continued.
9. Money for investment IN reai
estate is comparatively plentiful. In
The market for business property
ID reported better than last year by
81 per cent of the real estate boards
to the survey. Inc mar
ported better than last year by 90
Der cent of the boards.
Los Angeles Leads.
Los Angeles tops the principal
cities of the country in gains shown
over last year In real estate trans
fers and conveyances. with an in
crease for the first nine months OF
Is per cent. but survey of nineteen
principal cities indicates that the ma
tional high-water mark Of 1922 has
been surpassed this year by an av-
erake of 30 per cent. In only one
city reporting is there a decrease
shown In the number OF transfers
This Is Fargo. N. D. North
Dakota is suffering from the low
price of wheat and the adverse con-
ditions surrounding agricultural pro-
duction.
Building shortage OF. some kind Is
reported by practically all the large
cities Of the east. However. Of TWEEN
ty-three cities OF more than 100000
twenty report that they
have caught up with their building
program and may be considered nor