Philadelphia’s Commerce Director says Philadelphia is a good buy when it comes to real estate, but there’s a nagging problem.
Commerce Director Alan Greenberger says over and over again he hears people talking about what a good value Philadelphia is, especially for young couples starting out.
“You can get amazing amount of house at relatively low cost compared to other cities. I think what we are going to see to the extent that we can retain these now young families and their children in the city I think we are going to see increased buying pressure because the deals are terrific,” said Greenberger.
Council President Darrell Clarke says the trouble is keeping young families from fleeing to the suburbs.
“We had a couple of dinners to find why they go outside the city and first if not second was the school issue,” said Clarke.
Of course the Philadelphia schools have asked council for an extra $60 million to help close a massive deficit. There’s a lot of speculation about the school district’s budget, since it’s requesting $120 million from the Pennsylvania Legislature and seeking $133 million in savings from labor concessions. Council will hold budget hearings on the schools April 24.