Evening Star Newspaper, November 7, 1925, Page 17

RE RENTS DROP 4 PER CENT | IN YEAR, BABSON FINDS Charges in Los Angeles Still 130 Per Cent Above Prewar Days—Building Shortage Near End. dellining rents ing rents. BY ROGER W. BABSON. Svecial Dispaten w, The Star WELLESLEY HILLS, 20 per cent now show | and only & per cent No-| No Further Building Shortage. vember tatistics from 180| The building shortage which devel- localities show that rents have de.|OPed during the war is fast being 5 overcome, and many authorities be- clined during the past 12 months|jjeve jr has been fully compensated about 4 per cent. In July, 1924, rents | for. Only a few cities now report a were at the highest figures for the|shortage of dwellinzs while many 5 e and averaged 86 per|citles report overbuliding in some Basti b yesrsi a aged S8 DEr| G im. In most cases this overbuild- cent above 1014. Since July. 1924, | f . o “oerts there has been u slow bui constant | 'D® is for ‘business ‘purposes, \of Q}‘ e | or expensive apartment houses. Where any shoriage exists today. it is in the | six-room houses and the small apart- ment. This overbutlding seems to-be most pronounced in the Kastern sec tlon of the country, where there Is a for lowering rents, espe- business offices and apart- Mass about Where Increase 1s Greatesf. When we compire rents today with prewar rents we find that’ the great- est increase is naturally in the most 2 rapidly growing citiés llke Los Anue—,""{‘f”‘r‘_ les and Detroft. This is mot = criti “f::":l i eism. of these cities. but ix. the In-[ments 5 avitable result of zrowth. Rents in| ‘The past few months ‘the only sec los Angeles are still about 130 per | ton of the country which has shown nt o e i |a distinct tendency. toward higher eent over prewar times, although they (& dls t mare 160 per cent above prewar times | rents is Florida & year ago. San Francisco rents, on| [N two or three sectionx of that the other hand, show an advance of | State rents are truly out of reason. only about 50 per cent over the pre.|#nd no one reulizes this more than} war level. | the Florida wuthorities, who are trying | Tt will be only natural for ‘those|to keep excessive rents. down and | cities where rents have increased the | Stabilize the situation. | most to have the heaviest decline Rents per room in the large cities | Auring the next few vears. This s | of the country are about double the | In acoordnnce with the law of action|Same kind of property in the small | and reaction. What goes up highest | citles. Rents vary from $7.50 per room | must come down fastest When the | Per month in cities of 25,000 population pendulum swings far to the rizht|i0 $10 per room per month in cities 1 lkewlse must swing far to the left. | Of over 500.000, while in the very large A Jeveling process Is going on through. | cities this runs up to $15 per room aut the country all the time in stock | Per month. When it comes to apart prices, commodities and rents. ments we find they run from $10 | When security prices are abnor-| PPT room per morth in the small citles | mally high in any one group, investors | (¢ $33 per room per -month in the | tiurn to another group. When whent | largest cities is*out of line with corn, people try | Rents to use more corn: while abnormall¥ | . 32 hizh rents in anv one city tend to| The best Lving increase the building in that Aenca city | continent today aré prob- | which ultimately results in a surplus | 2Pl found in Canada. The Canadians of houses and apartments and hence lh(\e been noted for erecting substan A tial buildings with good sized rooms | rings a rents Bl 1 i bringe ahout lower rents than the! und plenty of light and alr. Of courke In every phase of life Lower in Canada. | conditions on’ the | | rents in Canada are greater than be tore the war. but they show no such | increase us do rents in the United States. At the present time no Ca nadian cities report increasing rents in any tvpe of building. Moreover, downward tendency is evident in single family dwellings in many Do minfon cities. It is not my province to refer in detall to real estale mortgage bonds In this talk. Everv issue is distinc Where Rents Are Lowest. Statistics indicate that from the tenant's viewpoint the cheapest citie. ‘ in which to live are Bay Citv, Mich. Billings and Butte, Mont., and Sedalia. Mo. Tt is even sald that a six-room house 1o live In can be hired for less today than 10 vears ago. Compara tively low rents are also the rale in Bridgeport. Conn.: Springfield. Ohlo | struction, for it Is a natural, triendly. THE EVENING § TAR, WASHINGTON ) 1. C., SATURDAY. NOVEMBER 7, 1925, DESIGNS TO ASSIST HOME PLANNERS Bungalow to Satisfy Critical Tastes of Builders. Planned for Economy, Com- fort and Charm, Both In- side and Out. ‘There s no building material so in- expensive as wood, and for this reason some people deem it ordinary and pass over it as an undesirable in thelr build- ing considerations. ey, MHke the “Jonses,” ur> forever aspiring to that which they cannot have, when if they would but study that which s within | their power to obtain their search would reveal untold mines of beauty This is especially true of wood con and at the same tim= substantial ma- terfal. Many finfshes may be had to meet as many individual tastes and re- quirements. There are multi-colored shingles of tones to suit the most dis criminating, And then the planting. this alone mayv make even @ tumble- down shack attractive and a beautiful 1y designed home a rare and exquisite gem. This house we have illustrated today DLD WOOM - >4 sunroom may be reached from elther of these rooms. The entrance i at the side, thuZ putting the hall in the cen ter of the house and giving the more importang rooms the food of light - KITCHEN - | ever materfal | money will he saved. ed without golng into the living room | or dining room. It this Hitle house were to be builr | on a hillside a part of the cellar could | be taken for a garage and you would | Il have plenty of room for coal,| vegetables, wood and fruit closets This could even be done on a level lot | by lowering the entrance driveway 1o the cellar level. Stone up the sidés and plant shrubs and vines, and the | beauty which at first one would think could not be a mplished by sinking a drivewav will soon be apparent A Uny house of wood everything about it first c | omy of construction does not mean the cheapest form. Very often the first | expense is a trifle more, If each itom is first class. but in the long run much It is the poorest kind of economy. for instance. to use poor plumbing. It is equallv fo apply an inferior quality of paint or to stain the roof with a material that and that does not tend to pre » the wood. If expense must be considered it Is better to omit something or leave »ome rooms unfinishad or a part of the foundation unexcavated — hut what Is used should he the | be best obtainable. Every house should a home and thus should carry impression of beauty. A little: more care In the selection of the coldr scheme, more interest in the plannipg nd the tending of the garden, wnd even a schoolhouse will respond ina marvelous manner. 4 There is an attic space in this houss which could easily fourth bhedroom if such were needed and by adding a small dormer on either side cross ventilation could be had. If three bedrooms are sufficient | this storage space will be plenty to re lieve the downstairs portions of all articles not in use, from furniture and trunks to blankets and Winter clothes. 1t is plenty large enough to make at one end the cedar closel <o envied by many a housewife. Just hecause we have suggested this design 1o be built of weod is no reason why it will not be quite as charming of stucco on metal lath, brick or stone. Such a tiny house builf of stone would have tha appearance of being centu ries old. for the exterior is delightfully ive of the days of our fore Since the price of material and labor vary so materially in different locali You Don’t Know the Condition of Your Roof —but it is most important that you should I be made into the | REAL ESTATE. 17 EXPERT TO EXPLAIN NEED Chesney Brig. Gen. Nathan W. MacChesney, general counsel for the National As- | soclation of Real Fstate Boards, has accepted the invitatlen from the ‘Washington Real Estate Board to ad- ' dress_the Jocal realtors on the subject | of real estate lcense laws at a specia meeting of the board, called by Presi. | dent “ Donohoe, at ,Wardman Park | Hotel, on Wednesday evening. Novem. | be: 18, District and Federal officials | 'and_representative business and pro- | fessional men have been invited as| 'Zuests of the board at this meeting, | which will he followed by an informal buffet supper. “Gen. MacChesney is a recognized authority on the subjeet of uniform | State laws. He framed the model real | estate license law sponsored hy the | National Assoclation of Real Fstate | Roards, and in operation in 20-odd States.” This law was recommended | 10.Congreas for the District of Colum. | bid_by the realtors’ board last vear. | The attention of Congress will b again invited to this law by the Wash. ties we do not attempi to give an esti- | mate as Lo cost. but suggest that vou consult venur locul builder. who can &ive you detailed information as to your exact needs to he installed in this | house. For information as to the pro- | curing of the building plans of this design, No. §4. send a stamped and self-addressed e ope to the Real Es. tate Editer, The Star (Copyright Georze Matthew Adams | homes. Containing seven milli —between Connecticut. Massac struction. Actual with six miles of improved streets. OF REA},TOR LICENSE LAW |Some Way for States to Supervise Profession Essential, Mac- Holds. ington Real Estate Board earl cember. Upheld by Supreme Court The realtors’ license law 1 ready been sustained by the Court of the United States | its decision recognizes th. tate to set up standards and practices in a. business whe standards and regulations discrimination and are comme persons engaged in the business this decislon by the Supreme the ational Assoc jon of Tea tate Boards. through fts nat mittees and constituent increased its activities in the license law throughout try. The real estate license law ha fundamental aspects that insure maximum of protection 1o the Under its provisions the licenses and the practice and salesmen are supervised by estate commission created hy itself. An applicant must written indorsement erty owners or taxpa his character and integrit some States a form of exar required. This examination als the fundmental principles of tate law and real ol | well as an elemental rest | jects to show the app! equipment to engage in businese. Under the provisions « one iz permitted 1o do would__constitu " (Continued Massachusetts Park Washington’s most beautiful residential section of detached on ieet of forest-cove Includes what r d land of The Triangle of Increasing Values husetts and Cathedral Over 200 homes from $15,000 to $200,000 built and under con improvements and home values exceed E WILL give you a correct report on it if you say so. If it is O. K. we'll know it—and if it is needing attention—we’ll know just what to do. There isn't any guesswork about roofing matters with us—WE KNOW-—and when we are through you'll get a roof that will outlast your expectations. It isn’t expensive to have us do it. On the contrary—it's cheaper—for Rose Roofs are life- time roofs. by itself and it is dangerous to talk A bond house Augustz and Savinnah. Ga.: Charles. | ton and Columbia, 8. C.: Davenport, | In anvthing but generalities Tows Paso and 'ort Worth, Tex. on A certain apartment Mobile. Ala.: Flint, Mich.: Omaha,|in.a certain city may he a secure in ebr.. Portsmouth and Roanoke, Va.: | vestment. while a bond issue on an Superior, Wis.; Tacoma, Wash., and | other apartment house a few blocks Wichita, iKans. Rents in these cities | @Way may be very questionable on Julv of this vear were mot more tnan 30 per cent higher than before the war In contrast 1o these citjes, the Na tlonal Association of Real Estate Boards rcports that certain small eitfes have shown greater incr es of renis than Los Angeles, Detroit and New York For instance, Johnstown Penn rents Are near 200 per cent higher than 1914 levels, while rents in Kenoshu. Wis.. are 160 per cent high e, and Louisville. Ky. rents are 150 Per cent above prewar figures Of the 223 cities reported 12 pe eent al presenc indicate station eonditions. although. with the excep tion of B:v City. Billings. Butte und Sedalla +11 sho e over pre e ciifes $8,000,000. Wooded villa sites, homes, with lots from 50 to 113 St. and Cathedral Ave. Middaugh & Shannon, Inc. A ESTABLISHED _lsss Riggs-Semmes Bldg., Dupont Circle, Potomac 2200 lots, centrai and si | issue a et front. Park Office, 2 | LIVING X i | ps " Warning fo Investors. | Not only is the amount of the mort | gage very important but the location | of the property and the purpose for | which it is to be used should be con | sidered. It is, however. common sense | that it is much safer to purchase real | estate bonds when building costs are {low and rents are low than when | building costs are as high as at pres lent. Probably it is in view of this | situation that real estate companies ire now seiting surety companies to suarantee these issues IFor instance. well known surety company obligates itself to pav the e of the morigage note without ecourse 1o the collateral deed of trusi n enty-one. wner ers Snappy, Classy, Well Built Bungalows At Takoma Park, D. C. Must Be Seen to Be Appreciated Pictures Don’t Do Justice Now Ready for Your Inspection NOTHING LIKE THEM 3 SOLD COME OUT SUNDAY 8 ARTISTIC BUNGALOWS —4 DIFFERENT PLANS The pay part can be arvanged upom onr defer- red settlement plan. Yow're welcome to its comvenience. . This cottage could well be built on a 30-joot lot, if necessary. With a garage. even—in the cellw! W ood, stucco. brick or stone would be suitable for its construction. But it should surely have beautiful planting and an atmosphere of happy home life about it. which is often taken by hall space There another entrance at the other side of the house leading into the kitchen. From either one of these antrances the hedrooms mav be reach is not large and may he built hy the man of most ordinary means. It fa 3615 teet wide by 513, feet deep. and would. therefore, he a splendid desizn for a 50-foot lot. It has a separate liv ing room and dini room d the Company North R47.848 > is (Continued Page | Lay the Foundation for Future VIn-déIV)endencg by Grasping Present Opportunities One Form of Independence is Home Ownership Home Ownership in . Wakoma Park IS IDEAL 6614 STH ST. N.W. 8th & UNDERWOOD STS. 810 ASPEN ST. N.W. Priced From $11,750 $14,500 $1,250 Cash $2,500 Cash DESCRIPTION 6, 7, 8 rooms; oak floors throughout; instan- taneous hot-water heaters; built-in tub and shower; garage; cedar storage closets; auto- matic lights; open fireplaces; enclosed sleeping porches. Priced from $11,750 to $14,500 Terms, $1,250 Cash to $2,500 Sample Houses Heated and Lighted Daily Until 9:39 P.M. 612 WHITTIER ST. N.W. All bungalows have large rooms—sieeping porches open fireplaces and brick mantels, and large lots. DESCRIPTION Tf vou can appreciate an artistic home. well designed class materials and fix ex throughout. do net fail 1o ses houses at once. Have five and seven large rooms (2, 3 and 4 hed rooms), tile bath with built-in tub. open fireplace, a large sleeping porch, front porch. attic and large cellar. Everv convenience. in cluding. hot-water heat. Large, well graded lots. Shade trees. Located near District schools. library and stores, and west of rail- road. Prices are right. Easy ter No less than 50 feet wide by 148 deep to alley. Location—Sth and Whittier Sts., west of railroad | Near Takoma’s New 5-Acre-Park ! Only two. blocks south of Fifth and Butternut streets, near || Ninth strect and Fourteenth street car lines. : H. L. THORNTON, Realtor Owner and Builder Office, 6904 4th St. Takema Park, D. C. OPPOSITE TAKOMA THEATER . Office Phone, Adams 5251. Home Phone, Col. 1957, * WEEK DAYS PHONE FOR AUTO Deal With & Realfor theee CYRUS IMMON Realtor