The Waterbury Democrat., 1941-01-04

ards and reported 70 CNe Nst~ late Boards in it's thirty sixth al estate market.
 The forecasts, it should be under stood, are pre0icated upon contln- uance of our national defense pro~ gram in the general form now out lined, are not shaped to cover such change in conditions as might arise if, for example, we entered the war.
 l94I Outlook Best I'm Years
 Greater volume of real estate ac~ tivity. This is expected in 7S percent of the cities of the country, "A mar ket at least as good as last year tS in sight in 97 percent of the cities. Higher sales prices for residential real estate. This is the indication in GA percent of the cities. Only ( per- cent look for a drop.
 Somewhat higher rents for dwell lmgs. This is foreSeen in 67 percent of the cities. Higher rents for apart ments are expected in 47 percent Of the cities. Rates are expected to stay at least as high as they now are for detached houses in 97 percent Of the cities, and for apartments in ea per- cent of the cities.
 Acting as a safety valve in this situation, dwelling construction con- tinuing to mount in volume despite defense activities. This is the fore cast in 61 percent of the cities. A pace at least as good as that Of l0A0 is expected by BS percent of the cities.
 Apartment construction remain. ing at about the present volume. While 24 percent of the cities look for some rise, 21 percent think there may be decline. Explanation is found in the statement from two thirds of the reporting coMmNni- ties that residential rents have not yet reached a point where they tlis- tify investment in rental housing at present construction costs.
 Increased demand for home sites, More than half the country will feel this, the reports indicate.
 Most distinctive change oe the year 1940 for real estate undoubted- | ly has been the new rise in demand for industrial properties, occaSioned not only by the defense program but also by its repercussionS on nor- mai production. Further rise is fore~ cast for 1g41 in almost half the cit- ies of the country. A market at least as good as we now have Is expected in the year ahead in DB percent of the cities.
 Business.property prices are fore. cast to go higher in Q third of all cities. Only 4 percent fear @ drop, The year 1941 will see a bit livelier construction of business buildings. The activity will affect two cities out of five, but one city out of five may slow down, the reports indicate, With home building accelerating, new subdividing will more than hold its own. Higher activity is expected in g percent of the cities, and % percent of the cities expect the pres- ent rate at least to continue. Big City Outlook Roslest
 Significantly, the very largest cit- les, which usually show earliest in. dications of any real estate trend, now top the country fin their real estate outlook, with % percent of cities of over 50O,00O forecastirg a higher sales volume in the coming year, 30 percent expecting higher residential real estate prices, % per. cent anticipating higher industrial property prices.
 With higher rents for dwellings in prospect in 78 percent of these very largest cities, they lead too iii the movement to provide new homes. 63 percent of them forecast @ greater demand for home sites ifl 1941, 60 percent forecast higher bub- division activity, and 63 percent foresee re see bigger volume of new home
 Business Rents Strengthening
 Business rents show c slight strengthening over last year, the survey shows. Subcenters lead een- tra1 business districts in pick-tp, noticeably, in the very largest cities, Central-district rates were on last years levels in 76 percent of the re. | porting cities, rose in 19 percent, fell in only s percent. Subcenter space, however, was tip in 20 percent Of the cities, down in only 4 percent. Every city of over 500,000 population fe. ported no change at all in central rents, but one out of every ftior had stiffer subcenter rents, and not one q decline. Shortage of business buildings exists in fl percent Of the cities, but 20 percent stil1 have over. supply at least Of secondary proper. ties: 90 percent of the very largest cities have oversupply. The SOuths east, leading the country, had rise in central rents in 34 percent Of its cities, and of subcenter rents in 5S percent, wtash not . city having { drop.
 office space showed little rent movement fin 1940, but w11at change there is is up. Four central districts, last years levels persist in 01 per- cent Of the cities, but z percent say rents are rising, only 2 percent re- port falling rates. For SubcentefS, AfI up in 5 percent Of cities almost Eal- af1ces c down in { percent The Southeast states, however, had cen. district rent rises in 23 percent Of the cities, subcenteT rises i1 % percent. No city Of over 21OOO pop u1ataCn reports lower central diG- tfiCt office rents.