A popular opinion these days is that all the new construction in the Philadelphia neighborhoods that have been seeing a lot of housing investment must be pushing up median rents. I think I came pretty close to debunking that argument over at Next City, and now some data from the online apartment rental service Lovely helps bolster my argument with year-over-year changes in median rent in specific neighborhoods.


Philly Magazine's Joel Mathis (or perhaps his headline writer) is out with a weird interpretation of the recent New York Times piece on the Comcast tower entitled "Could Comcast's New Tower Hurt the Commercial Real Estate Market?" The subheader lays out the theory: "New York Times suggests new skyscraper could drive down rents, make other buildings seem shabby."

As with Liz Spikol's earlier post worrying that apartments might get too affordable, Mathis doesn't even attempt to tell a story about why lower rents would actually be bad for Philadelphia in a broad sense. It's just assumed that falling rents must be bad.


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