Quote:
Originally Posted by EastSideHBG
I don't view this as a one for one comparison, though. Those areas have always been more expensive, they typically have more high paying jobs...there is a sudden culture shift taking place here in an area that is not known or prepared for it.
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It was always an inevitability, in my mind. The Philly area has long been and continues to be undervalued. It's just catching up with other large metros. It's a shift, for sure, but one I generally see as much more positive than negative because it signals healthy investment. And it's not close to being at "overheated" levels, because it's based on slower, sustainable growth.
And the money is obviously coming from somewhere. Even locals continue to underestimate just how "high wage" and white-collar the Philly area is now. On a percentage basis, "MBSA" jobs (management, business, science and arts) surpass even the NYC area these days.
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