[quote=LAAFTERHOURS]Let me ask you this. There are areas of this country that havent taken a substantial hit. One of those is the suburbs of philadelphia/ main line area and im not sure if this includes the burbs of Philly in NJ.
Since 2004 prices are for the most part about where they were back then. This doesnt mean that they went substantially up and dropped off again.
Based on the earlier comments about 2015, does anyone think these places will see a dump in prices or do you think bc of the mostly non toxic loan types in these spots that they should slide by?[/quote]
That may be true in the burbs – but I have friends who bought a nice, historic, 3 story rowhouse 2 blocks from Rittenhouse square. They bought for $300k in 2001, it’s worth over $800k now. (Based on a similar home sale on their block, on Locust.) Philly, at least center city, is still pretty frothy.
But you’re right about the western burbs and mainline. I have a friend who rehabbed a house and sold at the peak, in Narberth in 2007. He retired off the profits.
