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Home-Sale Prices - City vs Burbs

Discussion in 'Real Estate & Other Investments' started by searcher, Mar 4, 2017.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Locally.............

    As Philly's housing market forges ahead, suburban prices still limp along

    The Philadelphia suburbs aren’t what they used to be — at least when it comes to home-sale prices.

    For the fifth year in a row, the suburban counties saw a near-negligible increase in median home-sale price, ticking up just 0.9 percent overall in 2016 to end the fourth quarter at $231,000. (Median is the middle number; half the houses sold for more, half for less.)

    When compared to the city, where the median home-sale price jumped 8.6 percent year-over-year to $140,000, it’s clear the suburbs are not experiencing the same residential renaissance.

    Full article here: http://www.philly.com/philly/busine...using-market-forges-ahead-suburbs-still-.html

     
  2. andial

    andial Sir Midas Member Site Supporter ++

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    Cost of getting around in the burbs is too high? Millenials unable to deal with car up keep or insurance and cop fees are too high? Property taxes too high? Just guesses of mine I have no dog in this race.
     
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  3. dacrunch

    dacrunch Platinum Bling Platinum Bling

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    Low wages? Adult children living longer in parents' homes since they can't afford to become "home-owners"?
    "Bring the Jobs Back" might solve that problem, but it won't happen overnight.
     
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  4. dacrunch

    dacrunch Platinum Bling Platinum Bling

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    And dealing with Philly - a "major" city... seeing those relatively "low" median prices for housing, I can't help but think about "inner-city crime" infested whole neighborhoods.
     
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  5. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  6. dacrunch

    dacrunch Platinum Bling Platinum Bling

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    Alton and searcher like this.
  7. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  8. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  9. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  10. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  11. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    REALIST NEWS - Houston Commercial Rents Plunge As Vacancies Hit 22-Year High
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  12. southfork

    southfork Mother Lode Found Mother Lode

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    Jobs not coming back, plus further robotics will eat any gains. Were going down.
     
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  13. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  14. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  15. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  16. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  17. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  18. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  19. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

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  20. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    The slow dismantling of a perfectly planned community
    • By J.D. Mullane, Columnist
    • 12 hrs ago

    Bill Levitt spent World War II in the Navy Seabees in Hawaii, mostly drinking, gambling and playing jazz piano.

    When he talked with sailors and soldiers on Oahu about their post-war plans, the war-weary men had remarkably similar dreams. No cities for them, but a cottage in the country to raise a family “some place green.”

    Some place green was the plan for the Levittowns, on Long Island, then in Bucks County and Willingboro, New Jersey.

    The first full-page newspaper ads announcing Levittown, Pennsylvania, bore a tagline, written by Levitt himself: “The Most Perfectly Planned Community in America!”

    “In Bucks County we purchased 8,000 acres and planned every square foot,” Levitt told the Philadelphia Evening Bulletin in 1965. Every house, light pole, utility line, fire hydrant, bush, shrub and tree was on Levitt’s master plan.

    Some 17,000 modestly-sized houses on small lots. Two shopping centers. Five Olympic-sized public pools. A dozen churches and greenbelts galore.

    Among the innovations of the design was Levittown’s low-slung elementary schools. The Levitts had screwed up on Long Island, failing to build and set aside land for schools. Levittown 2.0 fixed this bug. The schools were placed within Levittown’s sections. Not only could children walk to and from school without leaving their neighborhoods, they never had to cross a major highway to get there. School districts did not need to provide bus service, either.

    Levittown was green before green was trendy.

    The small schools became the fabric of the community. They were gathering spots for socials, and safe play areas for kids. The openness of each school’s vast fields gave a working class guy from the city a sense he lived some place green.

    Now it’s ending. In Bristol Township, schools named for George Washington, Thomas Jefferson, Abraham Lincoln, James Buchanan, Ralph Waldo Emerson and John Fitch have been shuttered and replaced with three mega schools, Brookwood, Mill Creek and Keystone.

    The school district is wrangling with what to do with the shuttered buildings and land. The district has deals to sell to housing developers, but the nearly 60 acres of prime land fetched less than $1 million.

    Some residents who came out to meetings are peeved — not because the schools are closed and the properties sold, but because the price seems low and rumors are that the houses that will go in are “low income.” (Oh, no, not that!)

    In our report this week, no one said the land should remain open, and all seemed resigned that more houses would be stacked into their neighborhoods.

    Big cultural forces have led to this which, to be fair, can’t be blamed on the school board closing and selling off valuable land at fire sale prices.

    Levittown’s older population, smaller families, and school buildings erected in the 1950s and 1960s that are at the end of their useful lives are driving the situation. Something had to give. But to give up neighborhood greenspace forever?

    Shoehorn condos onto those precious acres, and install macadam and concrete, while erecting beige vinyl-sided condos and drawing all the down-market SUVs you could want jamming your once peaceful streets?

    How is this happening without a fight? How is it that a slew of angry people hasn’t risen up from Levittown’s neighborhoods and chosen a slate of candidates to toss out the incumbent school board whose decision forever alters those neighborhoods, making them less attractive?

    You think if the Council Rock School District were to take down a neighborhood school and sell the land to Toll Brothers for condos there wouldn’t be a political revolution? The revolutionaries would come armed with their own lawyers, engineers and traffic study experts.

    Maybe it’s the end for Levittown as designed and intended. Maybe being green bores us and, in the pastel jargon of the socially enlightened — we must meet the community where it is, not where we want it to be. Be pragmatic.

    The native shrubs, fruit trees and wide-open park-like backyards went first, and up went the ugly fences. Then the public pools were closed. Now the neighborhood schools.

    The most perfectly planned community in America is dismantling itself, piece by piece, steadily removing the reasons it was such a great place to buy, live in and raise kids.

    Enjoying our content? Become a Bucks County Courier Times subscriber to support stories like these. Get full access to our signature journalism for just 44 cents a day.

    http://www.buckscountycouriertimes....-860a-10604b9ffe60.html?hp=mid-moretopstories
     
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  21. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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