Quote:
Originally Posted by PHLtoNYC
I'm not a data wizard, but it would be interesting to see a comparison of housing data in the largest US cities from 2019-2022. And reassuring if this trend is similar across the board. If not, do policy changes drive the slowdown moreso than the general economic climate? I'm not sure, just thinking out loud...
But to chimpskibot point, there may be a waiting game for some developers to see the absorption rates of all these massive new projects.
OT, I roll my eyes when I see quotes from Helen Gym...
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looking through
https://housingdata.app/ it doesn't look like it, seemed pretty clear last year that developers were racing to get the full abatement so I don't think this is surprising even without any economic factors.
I don't really think it's about absorption though, philly has had very bad construction on a per capita basis for decades even as population growth has picked up, there are some structural factors that probably increase costs to the point most new projects won't be profitable