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ell0bo t1_jea2fau wrote

Reply to comment by Chimpskibot in [Inquirer] Census data shows Philadelphia population drop in 2022 by _crapitalism

Yeah, we're at something like half the density of back then. I don't remember the figures, but when I looked them up 5 or 6 years back, I was pretty shocked.

Think about it. Some of those old brown stones have one family living in them. If it's a house with a worker door, then there were servants living in the basement, and the family above. Granted, we don't need to account for stables anymore, but still people want more space to live these days.

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nougat98 t1_jea3wft wrote

here's a perfectly good house for $89k. You could make $18k a year and still pay the mortgage. https://www.zillow.com/homedetails/2511-N-Patton-St-Philadelphia-PA-19132/10313712_zpid/

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nnn62 t1_jea7rn9 wrote

Perfectly good house in one of the worst neighborhoods in the city.

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Away_Swimming_5757 t1_jeaklb6 wrote

Perfectly good house to buy, rent out cheaply until the area eventually gets better over the course of the next 30 years and then have a cheaply acquired, high cash-flow property.

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AbsentEmpire t1_jec1t97 wrote

Buying a house in that neighborhood and hoping to rent it for a profit is as much market speculation as investing in NFTs and about as smart. The way to do land speculation in these shit areas is buy a tear down, clear the land, and pay almost nothing in taxes on it for the next 20 years, which is what usually happens.

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