On 3/23/04 10:13 AM, "Brian Siano" <[EMAIL PROTECTED]> wrote:
> Richard Hotchkiss wrote: > >> I don�t see how the Penn program �forces� anyone out, if anything it >> is a windfall to those longtime owners who now decide to sell. Without >> the incentive program and the Alexander School, I don�t think the >> prices of houses would have increased by up to 6 fold (in some cases) >> over the past five years. I also think the area would have continued >> to slide in the other direction as it had been since the late 70�s >> until the Penn incentive began. >> >> And if you really want to know what taxation is all about, check out >> what suburbanites pay and what services they don�t get (limits on >> trash pick up etc.). Many areas also get hit with a school tax on top >> of their property taxes and income taxes. >> >> Another good thing about raising property values is more equity for >> loans so that one may reinvest in their property or themselves. > > That's fine as far as homeowners are concerned. Yes, property owners can > now draw on greater equity for improvements, and this applies to > investment-property owners as well. But when landlords use this greater > equity to improve their properties, it generally leads to an increase in > the going rental costs of neighborhoods. And that's where the impact is > hardest and most immediate: among renters. > > I know several people who couldn't keep up with the rent increases that > have happened over the past six years, and who've had to move further > west and south. I'm sure than many of us know people who've been through > this as well. In general, I think the Penn plan's helped the area, but > let's not ignore this considerable and very real downside. > > There are a lot of evils involved with the historic-designation > proposal, of course. > > ---- > You are receiving this because you are subscribed to the > list named "UnivCity." To unsubscribe or for archive information, see > <http://www.purple.com/list.html>. > I also believe that rentals have increased because the rents in center city have gone through the roof and there are a lot more college aged students then there were in the mid 80's. Supply and demand. But I think the landlords could address this better -- Richard Hotchkiss http://www.hotstrings-inc.com 215 382 8706 ---- You are receiving this because you are subscribed to the list named "UnivCity." To unsubscribe or for archive information, see <http://www.purple.com/list.html>.
