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Originally Posted by 1487
the far northeast has larger, pricier houses and less apts. I don't see it being ripe for decline. No more so than Roxborough or West Mt. Airy.
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It already is. I have worked with Habitat Humanity in that area. There are lots of senior citizens in that area with once nice homes in significant disrepair. We have helped them with repairs they can't do themselves and would struggle to afford. But it's just a fraction of the population. And volunteer organizations can only do so much even for those we help.
Absent some developers swooping in - which I don't see in a neighborhood so far from Center City - their children are going to sell their houses for much less when they pass to people who probably won't maintain them well either. There is not the same kind of demand for a car-centric, suburbanesque lifestyle among upwardly mobile people that initially made the Northeast pretty nice. Today, those people will live in the suburbs. People who want a more urban environment choose other neighborhoods.
These kinds of changes in social mores, values, and generations dying off has the same impact other places. My grandmother (98 years old) just moved to assisted living from the Greenhill Condominums at 1001 City Line Avenue, just on the suburban side of City Line (Wynnewood). Just put the condo up for sale. Condos in that building are all selling for roughly half what she paid 7 years ago when she moved back here from Florida. No one really wants to live there.
The people that are moving in may be nice people and will hopefully maintain the places, but they are struggling to make ends meet financially and are moving there to get their kids into suburban schools. They are able to get the condos at low prices because no one else wants them. The same kind of thing in happening in the Northeast. The older generation is dying off, and there's not much demand to live there. So, the prices of houses turn over are dropping and will drop more in years to come. Even with the best of intentions, many of the people moving in won't be able to afford to keep already deteriorating properties in good repair. Over time, I see a gradual but progressive deterioration of that neighborhood. The new Sharswood. Whereas Sharswood itself is going to improve with new development and community initiatives.
Mount Airy is a foil, yes, but I'm not sure how many Mount Airy's the city can sustain or what draw the Northeast has to make it another one. For whatever reason, there is a demand to live in Mount Airy that I'm not seeing as to the Northeast.