Henderson daily dispatch. (Henderson, N.C.) 1914-1995, 1946-11-07
Really Values
Are Beginning
To Slump Some
Bobson Declares
Ceiling Controls
Moy Be Modified
BY ROBER W. BABSON
Copyright 1916. Publishers
Financial Bureau. Incl


BabSon Park, Mas, Nov. THE
stock market is not the only thing
that has had Il bump during the past
two months. | happen to be vice
president OF the Newton-Waltha
Bank and Trust Company. with as
sets of S65.000,000. Naturally. We
take Il large number OF mortgages
Just before leaving on NV western
trip. it looked to me as if the edge is
off the real estate market here in
the East.
Conditions In The Middle West
Hence. on my western trip ! con-
stantly inquired regarding real eS-
tate and found that all cities visited
told about the same story. Briefly,
this is that the demand continues for
small houses selling from $4,000 TO
So 1000; but that the demand for
larger houses, even new ones, has
fallen off considerably.
Real estate agents tell me that
property that has been selling for
$4,000 or over is now being marked
down AT least 20 per cent. This APP
plies 10 older fairly modern houses
and also to new houses. Large houses
are actually Il drug on the market at
the present time in some sections of
the country. Veterans are gradually
getting located. RumorS are abund-
ant that new houses are being built
OF green wood. with few nails and
poor fixtures, which cause the pur-
cnaSerS TO be wary Of them.
What About Ceilings
Sooner or later the cost of living
Will again decline. Ii labor plays
fairly, II will be willing TO take n
cut III wages. as living costs decline,
TO offset the Increased wages which
II has been given as living costs
nave increased. But whether or not
TINS happens. labor. before long, will
do better work and give much more
Tor an hours wage. This will appy to
al wage workers, beginning with
those who cut the trees i'll the woods
Tor the lumber. HcnSc. those VINO
can wait before buying Il now house
SnOt'lo surely do so. The present Sla-
OOO ceiling is not helping.
Now, 4 word regarding rent coil
ings. II may be wise to continue rent
ceilings on prewar houses. although
they should be adjusted to prov;d..
Tor the increased cost of upkecD. e;r.
But there should be no rent ceiling.
ON new houses built for rentinr
otherW!Sc. very few houses will be
bui!t to rent and the nation will
suffer.
Farm Investment
Inc subsistence farm which pro-
duces only enough to feed the fam
liy, pay taxes and hire Il man, but
where the owner has a position or
business on the outside. is holding
ilrm IN price. This is especially true
III the case o! property within a mile
or TWO Oh a church. stores. post of
llce' schools, etc. Real estate people
look cI,,,
the idea of cutting ii up into a sub
DIVISION OF five or ten acres.
Whlle on my trip, purchased two
loo-acre farms. Both of these | can
rent al figure to pay taxes and
give me per cent on nv invest
Hlent. ms Is good enough these DAVIS
win the security which a good farm
oilers. In one instance. the farm was
Within walking distance of n citv nj
3,uOo population. | consider this n safe
investment considering the excellent
SOL, drainage and location on q b,Ic
line. q Jus
Farming States
Durlng this trip I found an in
otiiietlNe deslre OF farmers to want
10 move in a southcrly direction. Far
Imers in Minnesota are seIIina cnd
Duying farms in Kansas. Iowa and
missouri; while farmers in these
Sentra! States are selling and buyinp
farms 10 Oklahoma, Texas and per-
maps Kentucky.
AAlnough the general movement
curing the past fifty years has been
westward. think it is now directed
southwark. although. of course. Cali
lorhla is the looked-for heaven of
most farm housewives. For retired
farmers, Florida should not be for
sotten' but from an agricultural point
Oh view IT is very hard TO induce n
MIDWEST farmer to swap six feet If
Dlack loan for Florida sand Gown
!!noueh Florida has the finest climate
in the world e'''''a'e