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10-28-2008, 05:19 PM
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Member
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Join Date: Jun 2008
17 posts, read 15,101 times
Reputation: 13
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Economy in Philly
I'm located in the Tampa Bay area (the highest unemployment in the nation) and was wondering how the job market is in Philly. I'm a paralegal/legal assistant and am comptemplating temporary work until the job market bounces back. Luckily, my parents reside in Philly, so I don't have to worry about rent. I can't believe the horrible weather up there (I was hoping that the Phillies could finish the Rays off), but I rather be cold than broke!
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10-28-2008, 06:01 PM
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Deseret Book's #1 Customer!
Status:
"Moving back to Chicago!"
(set 7 days ago)
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Join Date: Sep 2008
Location: Swift Current, Saskatchewan
837 posts, read 487,240 times
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I just read an article saying that Philadelphia will have one of the best economies going into this global recession, because it is not a financial or real estate development center. Most people are in healthcare, legal, and educational fields, so you should do just fine in Philadelphia. It also stated that you should avoid cities such as New York and Chicago, that are heavily tied to the financial sector. Currently living in Chicago I see the effects, like the collapsing real estate market that had apparently bottomed out! It is good if your a first time buyer in Chicago because it is a lot more affordable now.
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10-28-2008, 07:47 PM
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Join Date: Jun 2008
17 posts, read 15,101 times
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Do you recall which article that was?
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10-28-2008, 08:56 PM
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Senior Member
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Join Date: Jul 2008
Location: South Philly
1,252 posts, read 819,889 times
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There was NYTimes article and another in Forbes - in the last two weeks - if that's helpful.
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10-28-2008, 10:12 PM
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Deseret Book's #1 Customer!
Status:
"Moving back to Chicago!"
(set 7 days ago)
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Join Date: Sep 2008
Location: Swift Current, Saskatchewan
837 posts, read 487,240 times
Reputation: 227
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I believe it was Forbes.
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10-29-2008, 09:02 AM
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Member
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Join Date: Jun 2008
17 posts, read 15,101 times
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Thanks to all for the info. That gives me some hope!
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10-29-2008, 10:08 AM
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Senior Member
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Join Date: Jun 2007
1,913 posts, read 1,469,495 times
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Philly is doing better than FLA. According to Businessweek, the Philly area is expected to hold up better than most areas of the country through this downturn.
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10-29-2008, 10:40 PM
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Deseret Book's #1 Customer!
Status:
"Moving back to Chicago!"
(set 7 days ago)
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Join Date: Sep 2008
Location: Swift Current, Saskatchewan
837 posts, read 487,240 times
Reputation: 227
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Looking at your real estate market, it seems to be holding prices pretty well, and is not as price sensitive as Chicago or Atlanta. I did see a place in Bryn Mawr originally at $3 mil reduced to $2.5 mil, but in Chicago $500,000 price reductions are nothing even in the $1-2 mil range.
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