The Birmingham age-herald., 1924-03-09
|Ek FULL DATA { ]VCO-OPERATIVE
 TYPES OF HOMES
Birmingham Board Asked E To Help In Survey Of Situation
nc SAVING IN RENTS fREDITED TO APARTMENTS
lumber Of Advantages Believed Possible By Use Of The
 Community Method


 \ Birmingham Real Estate board will < everything in its power to assist it's trent organization in collecting data C cooperative apartment houses, Sam
 Sparke, executive secretary, said in
 mmenting on a statement made by m Saturday and printed herewith.
 The statement:
 The Birmingham Real Estate board
 in receipt of information to the Sect that the National Association of cal Estate board has been so i'm essed with the growth of co-opera- ge apartment buildings that it is un- liking to collect data regarding the aapcing, sale, and operation of these n-your-own-apartmen buildings.
 survey is to be made of such build- gs in order that the national asso- ation may be m position to recom- end the most satisfactory way of ndling such propositions.
 The cooperative apartment is own by the tenants, the idea having { own out of the convenience of apart ent living on the one hand and the tisfaction of home ownership on the her. The plan has been in use in | nrope for centuries, in New York Isr 30. years, in Chicago for 10 years. d has become quite common in Washington, D. c.
 sHt is claimed for the scheme that | 66ects a saving in rent anywhere from E to 40 per cent. This saving in ! nt is due to the elimination of much ! pense and loss from vacant apart { ants, uncollectable rents, repairs in E lent to changes of tenants, manage siit and advertising.
 Board Has Say.
 The owner of a hOme-unit in one
 these cooperative apartments can < Il or rent subject to the approval of se board of tenants who manage the { iiding.
 Banks and mortgage bond houses favorably disposed, it seems, to- axds lending money on these build zs, and some lend on the stock in csc enterprises.
 teresting at this time when the na- mal government is deyoting so much ert to increasing the number of me-owning citizens. When the na- pnal association has completed its eHstigations and embodied them in noise report with its recommenda- n, a valuable contribution will have en made to the constantly growing lume of real estate publications.
 Committee Took Note
 ssThe national association notes with terest that the ways and means com ttee of Congress has incorporated in proposed new revenue act pro- sion allowing the carrying charges De added to the cost of vacant prop ~ in determining the amount of profit
 the sale of same for the income tax port. The practice under the pres ! law has been to add only the cur 1t years taxes and carrying charges. Ie change would effect tremendous ying in. the aggregate to the sellers ktinimproved property.
 k:A very earnest study of the tax uGtion in regard to farm lands has eni made by Dr. Richard T. Ely, di- star of the Institute for Research Land Economics and Public utilities the University of Wisconsin. From Mzes collected by the United States reau of agricultural economies and pm official state records, Dr. Ely ids that if present tendencies in xation continue unabated the time n come when the net income from rtn lands will be asborsbed by taxes.
 Trend Merits Study
 N0f course, the isolated cases where taxes are already more than the sofne are not expected to increase merieally to any great extent in the mediate future; but the present trend
 taxation of farm lands is sufficient
 alarming to merit very close atten- n and study. Any careful follower
 seurrent events and the trend of pillar thought must know that the bject of taxation of all sorts is en- ging the attention of the people to markable extent.
 "The increase in national. state, unity, and municipal taxes within the t few years is little short of phenom- al. Relief is becoming imperative. i'd along this line, pr. Ely asserts at the situation calls for an over uling of our ideas of taxation and veFnment expense.
 sNo attempt is made in this article give in full the many interesting ms in recent issues of the news rviee that have come to the Bir- ingham Real Estate board from the adquarters of the National Associa- m of Real Estate Boards at Chi go This great organization is doing remarkable work in gathering, classi- ing, and studying all sorts of data neerning real estate and the prob us that confront the property owner. q findings and it's recommendations receiving deserved attention as wer before, and it's influence has creased in corresponding degree.
 "The national association is composed
 some 500 local boards scattered over el United States and Canada. The