Evening star., 1924-07-05
Capital Realty Advances
As U. S. Prosperity Gro,os
Survey of Conditions for Years Sho,os
Those in Country Are Clearly
Reflected Here-OutIO0k Is Bright.

The development Of the National
Capital from the point of view of
real estate is keeping exactly in step
with the steady. forward strides of
the nations general prosperity. This
is not a mere deduction. but the
result of a minute survey looking
back over a period of many years
and covering all sections of the coun-
try. Records accurately kept and
checked up at the District building
show this advancement in Washing
ton.
AS is the case with some other
large cities, Washington's realty de-
velopment is neither falling back. at
a standstill, subject to irregular
spurts or such mushroom" growth
as seen in the development of the
whole situation of Washington plain
~ shows that, as the nations Capital
1ts needs are national. it's entire
aspect is national and its prosperity
Is the reflected national prosperity
Year by year Washington shows it's
increased values in the same propor-
tion as the increases of the United
States as whole. This has always
been the case with the District and
there is every evidence that it always
Will be.
Advanced ValneA Probable.
Real estate purchasers in the Dis
trict of Columbia have no reasonable
fear of slumped values and every
anticipation for increased values in
their properties. There is not a city
In the country where realty is as
sured of so much prosperity. Why?
1t is very we'll explained by an off
cial in the District building, who for
many years has had under his care
the property values here. AS he
points out, in no other city in the
country are the boundaries limited.
They are in the District of Columbia
Its size is set by Congress as ten
miles square: already there is a tre-
mendous overflow into the suburbs.
There also is growing population,
Stnadg itb1g tbn and tsn SURE iss and the area :;
filling up. Washington is not sub
5ect to conditions that bring great
Industrial activity. with consequent
huge realty developments that slump
the industry it relinquishes it's
holdings and closes down its fac
tories. These are merely some of the
things why realty values in the Dis
trlct have shown an increase.
Realty Ncars Billion.
In the year 1882. the full value of
real estate here was approximately
p-OV.uOU,UVu, IL Is
$s00,000.00O. with a steady increase
shown in the intervening years. This
value of $500. 100000 does not include
schools. churches, legations and en-
bassies. various institutions, parks
and the government buildings. In
the last five years there have been
increases in values of $175,000.0 900.
All these figures take into accounting
the change in assessments on prop
critics from two-thirds to full value
In 1923
The population Of the District of
Columbia proper is about 457 900,
but estimates show that the metro
politan~> population, Including the
suburbs surrounding the city-who
come to the National Capital to work.
who trade and spend their money in
Washington daily-is about 100000.
This is another important factor that
has much to do with the increased
realty values.
Just what growth in Washington
has amounted to in the last fourteen
years is shown by the following fg-
ures. In 1900 there were $4,000 build
ings in the city. Today-1924-there