April 26, 2012 |
The Philadelphia metropolitan area saw first-quarter foreclosure filings soar by nearly 33 percent over levels for the same period last year, RealtyTrac, which monitors such activity nationwide, reported Thursday. The total number of filings, 8,582, includes default, auctions and bank-owned repossessions in the city and its seven suburban counties, as well as in New Castle County, Del.; Cumberland and Salem Counties in New Jersey, and Cecil County, Md. Of those filings, 1,189 were repossessions of houses by lenders and institutions such as Fannie Mae, RealtyTrac said.
March 25, 2016 |
The Philadelphia metropolitan region is lagging well behind the rest of the nation in population growth, new census numbers show. In the last five years, Philadelphia and its neighboring counties have lost tens of thousands of residents, but birthrates and an influx of immigrants have resulted in modest population increases. Still, the Philadelphia metro area - No. 4 a decade ago - has fallen to No. 7 in the U.S. population rankings, surpassed this year by Washington. If current rates continue, Philadelphia is set to drop even further within the next five years, overtaken by Miami and Atlanta.
July 17, 2014 |
TO AFRICAN grocery store owner Musa Kromah, who immigrated to the United States 11 years ago to escape civil war in his native Liberia, Philadelphia is "well-known" back in his home country. In fact, he said, "all Liberians" have family members in the city. Greater Philadelphia has the largest Liberian population of any U.S. metro area, according to a November 2008 report from the Brookings Institute think tank. Recent U.S. Census Bureau five-year estimates put the number of people of Liberian ancestry in Philadelphia at 3,769, though community leaders estimate that the numbers are over 5,000.
April 18, 2016 |
In the early 2000s, as every Class B and C apartment and office building was being converted to condos, suggestions that some people might prefer renting brought complaints from Realtors and home builders. That was the "Buy Now, Maybe Pay Later" housing boom, during which the multifamily rental industry began calling its inventory "apartment homes" as a way of competing. So one morning in early September 2007, we awoke to find that we were overstocked with houses and condos that no one could afford and not enough apartments to accommodate the corresponding increase in renters.
January 11, 1995 |
Thirty percent of all American families - and 63 percent of the nation's black families - are headed by single parents, a great many of whom live in the city of Camden, the New York metropolitan area and Albany, Ga. Those three places are not often attached to one another in the same sentence, but all share a high percentage of single-parent households with children under 18. In fact, if all households with children under 18 are counted in...
April 21, 2016 |
Positive economic trends and faster-paced household creation in the first quarter kept the Philadelphia area's rental-apartment sector producing "solid results" for property owners, real estate investment services firm Marcus & Millichap reported Tuesday. Rents in the region were increasing "modestly and consistently," the firm said, while vacancy rates will fluctuate in a tight range this year. Marcus & Millichap cited persistent and exceptional "demand-side dynamics" in the market, with several years of employment growth creating a "large pipeline" of current and potential renters.
August 11, 2010
Home prices continued to firm up in the -quarter, with 100 of 155 metropolitan areas tracked by the National Association of Realtors showing increases over the same period in 2009, the trade group reported today. The Philadelphia metro area, to which the association adds Wilmington and northern Maryland, saw prices drop 2.9 percent, to $188,000 from $194,500. This reflects the effects of the recent tax credit, which saw lower-priced houses move more quickly. Second-quarter sales, tracked by state only, showed a 33.3 percent gain over the 2009 period in Pennsylvania, and a 29.9 percent gain in New Jersey.
September 28, 2012 |
The downtowns of many of the nation's biggest urban areas - including Philadelphia - saw double-digit population growth from 2000 to 2010, according to a new Census report. The numbers also show a reversal of sorts as younger, white, Non-Hispanics seem to be the drivers of the trend. The report released today shows that downtowns, defined as areas within two miles of a city hall, have been driving population growth in metropolitan areas with more than 5 million people. Both The Philadelphia Inquirer and Daily News have written stories documenting the trend locally.
July 15, 2016 |
When public transit is down, Uber swoops in to save the beleaguered commuter, spending millions to increase its coverage area. The app-based ride service insists its efforts to do so in Philadelphia are noble. But experts point out that helping SEPTA while a third of its Regional Rail fleet is down is also a savvy marketing tactic that attracts new customers to Uber. "This is a very shrewd business move on Uber's part," said economist Giacomo Santangelo, a lecturer at Fordham University.
March 15, 2013 |
In recent years, Marina Marx has watched Philadelphia grow, and she knows why. A manager of Honey's Sit 'n Eat restaurant in Northern Liberties, she said business is good thanks to the increased foot traffic. She credits the entertainment options: "There's art, culture, great food, and places to see a show. " Census estimates released Thursday show that Philadelphia's population continues to grow. In 2012, the city added 9,040 people, the sixth consecutive year of growth. Since the official census count in May 2010, the city has added an estimated 21,601 people for a total of 1,547,607.