Year: 1870

There were no sales OF real estate at the Exchange
salesroom yesterday The duness prevailing In the
real estate market this season or the year Is ono
OF the most remarkable Instances OF popular Senti-
mont operating independent OF all considerations
other than feeling to conserve its end. The people
have decided that real estate has been held too high
for some years. and rents especially have unduly
advanced. They do not look for any arguments
upon which to justify this assumption any more
than they tried arguments seeking 10 controvert It,
but having unanimously reached that conclusion ex-
hiht their belief 1t in the most unmistakable man
Usually about this time OF the year the demand
improved properly would be quite active greas
number OF small capitalists VINO nave suneiea 1,eS
ference extortion oil landlords seeking about lor
a good chance Tor Investment IN honcsteaa we
are not or those, however who are disposed 10 re-
gard the present retcence Of ths class rs thing 70
be deprecated in respect to their best interests.


one to own a house, and TO men Of small means.
where apparently oera terms are offered, the Temp


aton great to put the savings OF perhaps years Of
ploddng industry lat0 such an investment. Women


too, particularly feel this ambition. put with the Inn


practicabty which too often characteristic OF the
female mind they are apt TO allow this desire to
oyerstep prudence II - = frequent mistake Of
dependence or relit charge, as they overlook the
expenses incident TO such ownership In the matter
OF taxes, cost OF repairs and the constant demand
for Improvement which a cultivated taste imposes.
Many men hurried INTO premature efforts to secure
promptlngs OF their wives have accepted financial
burdens too heavy for them 70 bear, ana touRd
themselves involved m serious embarrsssmenG


clerks on liberal salaries they have invested their
whole capital the first insalment OF the purchase
money Of house and lot, cheap enough, II may be,
1T the figure asked for It, and given mortgage for
the balance. Subsequently they nave incurred un-
ticipated demands for money which they could not
stand and, unable TO realize with profit. have found
themselves forced to sell out at sacrifice even
before they became In truth the owners and. SICK
ut the DISAPPOINTMENT OF their hopes and the losses
incurred, sunk into respondent condition, from
is grand accomplishments but-and especially at
this tmet Is scarcely prudent In any one TO invest
oil OF his capital In such avcnture, even secured
him the fee simple unencumbered. much less with
30 doing he has yet to carry mortgage


Much OF the property sold In the suburbs within
the last two years been purchased by this class,
and the fact that many OF them bought unadvisedIy
and on too small q margin promises to cause some
weakness in THIS market this summer.


The rent question Is becoming every day OF more
interest and tho pressure abatement from tho
extravagant figures last year grows stronger each
day. II Is now confidently believed that after the
lst Of April there viii be very considerable red1c-
ton. 1t would certainly have occurred before this
but for the fact that large proportion Of the land.
lords belong fossil history and fail to
OF manifest destiny IN this regard. they
even shat their eyes To such plain facts as changes
In the neghborhcod hich afect the desirabltty OF
property. An instance Of this came under the
WRITER'S observation during the past week. In
certain street ,o N B.oosn large not rame ar na0sa
which during the last year was occupied
as a boarding house. ADJOINING 1t are other
boarding houses, One next door being very large
establishment. The EegnDorhood, not very select
last year has this year been deterorated by the ex
nb.ton OF sign the house last mentioned ans
n0uncing it as MOTEL anu the addition OF barroen
thereto. Yet the landlord OF the house we irst re-
fcrred to IL at present engaged IN making Important
alterations IN the Interior OF his building has
thrown the two parlors the d 81 11or into'onc,
and positively refuses To rent ~ Tor the occupancy OF
more than a single family. or course, with such
evidence Of his stupidity, II VIII readily be Deneved
he has not yet realized that rents are coming down.


Il.fYa
human fossils who own property In this city
and BROOKLYN who fancy IL Is IN their power 70 stay
the progress OF the popular Will In tha matter Az
well might they attempt 10 turn the hudson river
back from the sea cry peace TO the angry waters
ut Hell Gate III they persist In tneir opposition 10
WIN De only gee tneir property still further deprs
ciate from the wholesale exodus oil The people whom
they thus themselves against TO localitics where
better and cheaper accommodations VIII be given
them.