Quote:
Originally Posted by EastChestnut
Blah. When I moved here the boom hit everywhere else but didn't even peak here yet... we were still in a rental conversion boom then it stopped dead [and then rental conversion to condo took hold].
I see a future in Center City at of more rental coming online. Good for me as I'd rather buy a 30yr fixed at 7, hell even 8 percent if rates climb that high if I can knock most of the house price out up front with cold hard cash.
Banks are not going to tie everything up and put themselves out of business voluntarily, they'll start loaning out to less risky prospects. Rental buildings in UC/Center City are not risky... not when you can command rents for 1 bedrooms over $1,400 a month now.
|
http://www.nytimes.com/2007/03/23/ny...789&ei=5087%0A
The analysis shows that Manhattan’s 35,000 or so white non-Hispanic toddlers are being raised by parents whose median income was $284,208 a year in 2005, which means they are growing up in wealthier households than similar youngsters in any other large county in the country.