The Washington times., 1924-05-15
Intrinsic Real Estate Values in
Washington Not Affected
By Wildcat Methods
BY BILL PRICE.

BY BILL PRICE.
Nobody need lose faith ia the intrinsic values Of Washington
real the splendid future Of this city through the
Senate committee revelations Of the syrockeng certain
apartment house values.
The Senate committee Investigators have brought out little
that has not been known for number Of years except details
and this speculative frenzy the real estate
field that caused the creation Of the Rent Commission Il Is
this same validating that is forcing Congress continue
the commission protection certain classes of tenants
and investors who the victims Of manpuations that make
Wall Street look like bunch Of Hoboken pikers.
But after ALL the Senate committees report shows that
conservative methods prevail among the great majority Of
real estate in this city and that prospective buyers Of
land and homes prospective builders Of homes may safely 90
forward with their plans in the knowledge that Wash
gton real estate values sound the provera
dation Of rock
There lambs to be eared In all parts Of the world The
man who buys third fourth trusts on building without
thorough investigation Of the buildings assessed value and
the amount Of mortgages already carrying is indebted to
himself for his bunders he ought be protected BY law
against his fool SELF Of course but matter how many
laws there may be suckers viii still bite and be caught
Real estate values in this city pretty carefully assessed
~ the Tax Assessors office Of the District AS
rule these assessments close to sale values This Is
not always true because there may be sudden enhancement
N values between periods At any rate the assess
ens do give correct line their worth and do not take
INTO account the inflated ideas Of promoters owners
The real victims Of validating values are the investors
m trusts having nothing but speculative value the purchasers
who finally hold the bag after all the Juice has been suueexd
out and, most important Of ALL the tenants who find rents
fepeaSed boosted them that the building in which they
are housed may return yields to the sufficient to meet
the interest on overmortgaging.
There no particular compliment to the Rent Commission
IN tine TACT that It has not been able to tenants
houses that have through series Of specua
i've boosting OF values through the placing Of excessive
mortgages The commission created to establish rents
on basis OF reasonable returns houses on fair
VauaGons OF their properties not frenzed valuations
there has been violation Of existing Department
Of Justice and the United States District Attorney will know
now 70 proceed there are laws which the stua
ton the Senate committee ought to know how adopt them
although there should be nothing that will interfere with con-
sentative and sound business methods
Inc Senates investigation will result in good for Washing
ton will bring correction Of evils that have been annoynr
70 the whole city It will open the eyes Of the public and
serve as valuable warning.
In the meantime pin your faith to Washington real estate
It's the best investment in the United States TODAY when
bought through establishments individuals that know cor
rect values and in whom You have faith.
You may not know it. but it is interesting fact that In
spite Of all the pessmC suggestions as to the continuation
OF the Rent Commission throwing damper over building
construction in the District building permits for the first
4our months OF this larger in number values
THAN In the first four months Of last year. when Washington
stood sixth the large cities Of the United States in builSn0
activities. = s
The wild speculation In apartment houses was really basd
upon the confident belief that increasing valuations in
er here would justify the prices paid and the heavy mort
gagg The investors in the alleged excessive trusts also
widespread.
Go right building and buying homes this beautiful
M OF the nation Be sensible and discreet about it. to be ure
put 90 not let Senate reports anything cause Won 70
lose sight OF the fact that Washington the seat Of the
Federal Government that it Is bound to grow az the nation
grows that the nations eyes turned this way and that
thousands OF wetodo people coming here every wear
ana buying homes for themselves and their families