Year: 1871

An Expectant bIarkes-Some Positive vlewN


Corrected-lsents.


With the Wall street markets 80 dun that the won
der is how the mass OF brokers who copgegate there
continue to live. there Is matter for encouragement
even In the few transactions OF the past week In real
estate. while the large congregations that attend the
several sales evidence the increasing desire for deal
ings. Men who are neither anxious to buy nor desir.
to sell are not likely to waste their time In thas
most uncomfortable OF places, the basement ofTrnIty
Building. Yet men do 90 there, and IN considerable
numbers; hence 1t becomes very natural inference
to suppose that much interest Is felt ln the MARKET
and by a class who are


ONLY WAITING


an opportunity to invest The great dificulty. how
ever. In the way with them, appears to be that
vague IDEA that real estate s too high aud they
oil waiting for some great crash which Is going TO
permit them to "scoop' In at mere nominal ngures
the entire realty Of the island. on what they base
this view, or why there must be such q tumble IN
real estate, they unable to explain, alleging, In
reply to every attempt ut making out their reasons.
that II must down because It Is too high, their
logic not carrying them any further and being
wholly incapable OF furnishing a solution OF the
Dutchman's Inverted query, How high ish
dot ~ II there is one thing more than an
other OF which 1t is impossible TO nx
the value by any standard IL Is real estate In
growing, changeul city like New York. One au-
tority asserts that the value OF thing Is It's produc-
tive capacity, which would not apply to unimproved
property, from which there is revenue. Added
to this however Is he capacity and prospects OF tho
property to produce an income. 1t ID just here
DISAGREEMENT


occurs. Both In respect to capaciiy and prospects
upon Intelligence in discovering aud discerning
these, as wei as In Developing them, that lt Is
quite safe 70 rank tae chrome bears as being





island IN mass any one VINO would contend that the
Sapac &c M Of @ city a a.. 1--we in add
or that its prospects Of any increase OF greatness
were shut o., out W. would be regarded d as an ass what
Double the wealth Of this metropolis add 100 per
cent to its population and expand IT'S boundaries
corporation limits, and the present city property
will have increased In value In Ike proportion.
about real estate being too high, as though our
and men OF sense discretion frightened by suca
absurd and illogical conclusion are driven OF


BETTER UNDERSTANDING
In re1ard to this matter is growing up very ap-
the exercise Of unprejudiced. deliberate Judgment
that we look for an active market this spring There
s 6s V OF s ose ne naua
incline them 70 real estate investments.
a ,a na n seek to sas Ss
occasioned by this croaking which has been
maintained now Tor over year without other result.
the false impressions created by such articles 40
have from time TO time appeared In print IN jour
nal particularly distinguished for It's opposition ID
real estate credit aud tue talk OF smalfry brokers'
they are like to seek the real estate market to nnd
employment for these now almost unpr0ductty0
OF interest," rather the retirement OF the six per
cent bonds In considerable amounts, 10 likely to
bring into tho market further amount OF capital
seeking safe and profitable investment which. II nos
above, Is likely also to find Its way into real estate.
It is curious In examining into the condition and
surroundings OF some OF those who have been most
prominent In


WRITING REAL ESTATE DOWN


to find close association with socfafstlc theories
its best practical illustration In the pickp0cket
desire to reconstruct the world Is very praise
worthy ambition, and, under certain circumstances.
might be cOmmended; but when the materials for
the work insufficient II Ia better to let It alone.
The principle OF property In common can never be
people's If you have none yourself Again, statis.
tics as the basis OF argument may be correct IN .
general sense; but to deduce from the figures OF this
dltions are often very different They are to-day
different In real estate TO what they were this day
year ago.


is the principal subject of interest In the Market Ia
dependent or It's direct reference 10 values. Ills yet
too early in the season TO speak with certainty upon
for. Rents In New York do not always reflect the
value OF the property, but are IN many cases exces
sve, while In Others nom the operation Of special
causes, they are unremunerauve. Thas they mar
be considered IN some sense apart from the value vi
the fee. Of course, there are to be found the two
great divisions Of feeling 20 respec 70 this matter
Will be little change In rents this year, while tho
tenant as confidently asserts that rents must coms
knowledge, safe that there will be fair proportion
OF reduction, but IL does not look Jet as though u
would be very general. s..4