Word: boom
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Dates: during 1930-1939
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...father's real-estate firm to start another research department. Finding that his real-estate studies had far more than local interest, he launched Real Estate Analysts, Inc. as an advisory service to banks, insurance companies, real-estate firms. Though Researcher Wenzlick says the idea for his boom pamphlet was taken to Simon & Schuster, that smart firm claims it went to Roy Wenzlick as the leading U. S. authority on real-estate trends...
Researcher Wenzlick's boom is predicated upon studies of the U. S. real-estate cycle, which is -much longer than the typical business cycle. A case history of real-estate activity in St. Louis since the Civil War shows only four great depressions: one in the 1870-5; one following a towering peak reached in 1890; one during the War after a 13-year decline; one starting in 1925. "Few men under 50 today have been in business long enough to have experienced more than one general real-estate boom," Mr. Wenzlick points...
...same forces that brought on the last three great booms are at work today, and they are the same forces that are making for the much-publicized, longpredicted building boom. At the bottom of all this boom talk is the prospect of a U. S. housing shortage. Business recovery re-versed the short-lived back-to-the-farm trend, is now unscrambling families which doubled up for economy during Depression, has boosted the marriage rate, a fundamental real-estate statistic. The marriage rate drops far below normal in lean years, creating a "reserve" of unmarried people who hasten...
...typical real-estate boom a housing shortage is the first stage. Rents rise higher & higher. People begin to buy houses for speculation, not for use. As rentals continue to climb, it becomes more profitable to build than to buy and residential building starts to boom-the second phase. Feeding on itself, the boom creates demand for additional office space and commercial buildings, the third and final phase of a great boom. "Soon after the peak in commercial building is reached, the feverish activity of the boom will subside," says Mr. Wenzlick. "This period is probably ten years distant. Vacancies will...
...home owners: Do not pay off the mortgage. "I think you will make greater profits by buying a second house with a mortgage on it. Rent the second house until the height of the boom, then sell...