Originally Posted by Swinefeld
And Point Breeze, and Hawethorne, and Graduate Hospital, and Passyunk Square, and Newbold, and, well anywhere in South Philly.
Agreed 100%. We are seeing Philly replicate the case of New York, although about 20 years behind. In the near future, you will see many presently livable neighborhoods transform into upper-middle class enclaves. People will be priced out, and they will have a choice:
1. Gentrify some of the rough neighborhoods; or
2. Move out of the city, into the suburbs (Ie. DelCo).
I believe either scenario is ok for me. Either way, you will have net increases in city revenue. The ideal scenario would be to rein in the NIMBY's and other Neighborhood Associations to increase housing supply. Prices won't rise as fast, and we can have the best of both worlds. We'll see.