More Reason For Renters To Cry: We’re Blowin’ Bubbles!
Philadelphia is the only northeastern city among 10 ìbubble blowersî or cities where housing appreciation is expected to grow, according to Bankrate.com. A recent survey by Bankrate.com indentifies a 12% increase in real estate appreciation in Philadelphia between 2004 and 2005, which they characterize as ìhigh enough to encourage people to buy homes, but not at such a dizzying rate as to spark panic purchases.î
Translation: You blew it. By the time house prices plateau, you’re gonna be forced to buy your little urban oasis in, um, Bridesburg.
AmericasHometown: Calgon, Take Me Away (From Center City, That Is)
