Highways and byways of the Pacific coast . llar down and a dollar a week. But most of thesmall speculators pay in cash one-fourth of the price andagree to pay the other quarters at six month really never intend to make the second payment,but expect the land to advance in value so they can sellout at a good profit before the six months expire. Inshort, they seldom buy because they want the propertyfor themselves, but simply to await some bigger suckerwho will take it off their hands at an advance. Withprices going up the investors generally make the other hand a drop in
Highways and byways of the Pacific coast . llar down and a dollar a week. But most of thesmall speculators pay in cash one-fourth of the price andagree to pay the other quarters at six month really never intend to make the second payment,but expect the land to advance in value so they can sellout at a good profit before the six months expire. Inshort, they seldom buy because they want the propertyfor themselves, but simply to await some bigger suckerwho will take it off their hands at an advance. Withprices going up the investors generally make the other hand a drop in values finds a vast numberof obligations that cannot be taken care of. Thespeculators are forced to sell for what they can get,which makes prices tumble still worse and there is ageneral crash. The preceding inflation has often beenso great that it is difficult to estimate what a person hasreally dropped. I have lost fifty thousand dollars,said one investor, and the worst of it is that five hun-dred dollars of the sum was good money. . Schoolgirls Spring in Southern California 99 One real estate agent who talked to me with unusualfrankness was a man who had just retired from thebusiness after a ten months experience. He hadcome from South Dakota and had made his home in agrowing coast city often thousand inhabitants. I havebeen successful, said he, but my Godfrey! I didntfeel right. You cant tell the whole truth and makeany sales. Southern California is a good place to spendmoney and a poor place to make it. For some peopleits healthy, but for me the winters are too damp andchilly; and yet the natives say you dont need no fact is, fuel is expensive and most people cantafford it. Theres many a family makes one cord ofwood last a whole year; but I burned just as much aswe did at home in the East. A considerable number of widows lived in the townwhere I was. When a woman had a little money leftat her husbands death shed buy or build a nice-lookinghouse, but if you exa
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