Do You Think Phila City Councils and Mayors Have Managed and Budgeted Money Well? (Philadelphia: property taxes, train)

[kyb01]

Originally Posted by eliza61nyc

I'm more concerned with this huge wealth gap that is growing in Philadelphia, yes we have major construction going on and a few big industries moving into the area but most of the construction that I see has gone to unaffordable by most real estate.
The old Divine Lorraine hotel being converted into million dollar condo's. new apartment buildings on broad that start at $1500 month for studios. Gentrification of old neighborhoods with million dollar homes. lol has anyone been to Fishtown or Northern liberties lately??? 950K for townhomes.

The wage gap and/or the affordable housing crisis(in some areas), as I'm sure you know, is a national problem.

Your username contains "nyc" so I'm guessing you moved here from there. To some New Yorkers coming here some of those prices here are bargains. Speaking of NoLibs there's an article on Curbed Philly for a 7000 + sq property for $1.3 million. It's an amazing place though all kind of hidden behind a green garage door.

[Pilot1]

Originally Posted by kyb01

You probably know that Sam Katz came close to winning for mayor as a Rep. But he's a liberal so that probably wouldn't have worked for you either.

I actually know Sam personally, and like him, but yes he's a liberal, but what do you expect in Philly? The CC limousine liberals are liberals, as are the working class, and poor. So, it is a lose/lose proposition.

[selhars]

I'm more concerned with this huge wealth gap that is growing in Philadelphia, yes we have major construction going on and a few big industries moving into the area but most of the construction that I see has gone to unaffordable by most real estate. The old Divine Lorraine hotel being converted into million dollar condo's. new apartment buildings on broad that start at $1500 month for studios. Gentrification of old neighborhoods with million dollar homes. lol has anyone been to Fishtown or Northern liberties lately??? 950K for townhomes.

WHO is going to afford those condos and houses? Much as I love Philly. It ain't New York. Are people making that kind of money in this town?

The building boom could give way to a housing bust. Does any one see a lot of these places -- both office AND housing space -- going empty. And who is THAT good for? Eventually the cycle will price people OUT of town -- and we'll have commutes like in California and DC...people living over an hour away because they can't afford to live in the city.

[eliza61nyc]

Originally Posted by kyb01

The wage gap and/or the affordable housing crisis(in some areas), as I'm sure you know, is a national problem.

Your username contains "nyc" so I'm guessing you moved here from there. To some New Yorkers coming here some of those prices here are bargains. Speaking of NoLibs there's an article on Curbed Philly for a 7000 + sq property for $1.3 million. It's an amazing place though all kind of hidden behind a green garage door.

Yes, I'm originally a NY'er but I moved here after college, lol back in the dark ages (80's) so I've been here 30+ years now. married a West Catholic/ Drexel grad and that was that. We did move to South Jersey when the kids came along mainly for better school. then moved back when they finished

Originally Posted by selhars

WHO is going to afford those condos and houses? Much as I love Philly. It ain't New York. Are people making that kind of money in this town?

The building boom could give way to a housing bust. Does any one see a lot of these places -- both office AND housing space -- going empty. And who is THAT good for? Eventually the cycle will price people OUT of town -- and we'll have commutes like in California and DC...people living over an hour away because they can't afford to live in the city.

It will be interesting, right now the housing market in certain sections is hot. folks in Graduate Hospital and Fishtown are getting top dollar for their property. 10 year tax abatement's help. the city has also had a lot of positive "press" which makes it attractive to young 20 somethings.

[cpomp]

Originally Posted by selhars

WHO is going to afford those condos and houses? Much as I love Philly. It ain't New York. Are people making that kind of money in this town?

The building boom could give way to a housing bust. Does any one see a lot of these places -- both office AND housing space -- going empty. And who is THAT good for? Eventually the cycle will price people OUT of town -- and we'll have commutes like in California and DC...people living over an hour away because they can't afford to live in the city.

A majority of the million dollar condo sales are people from the suburbs.

Philadelphia is no where near NYC or San Fran in terms of a pricing crisis. I think the city of Philadelphia desperately needs rich people moving into town. People are pissing and moaning about high prices and no affordable housing when the city is by and large a dump and extremely affordable.

Center City is something like 5% of the land area in Philadelphia? Add in some surrounding neighborhoods and its what 15-20%. So that is barely 1/4 of the city that is becoming a playground for the upper middle class and the rich. I see no problem with that.

And I also do not see a huge bubble forming in Philadelphia, the construction seems to happening at a healthy pace.

[southbound_295]

Originally Posted by kyb01

It's the weekend. You might get more responses come Monday.

I'm retired so the wage tax is a non issue for me now. But I did pay it for years( either as a commuter or resident) because most of my career was a job in the city. I thought it was too high but I never whined about paying it because of how important
I think the PPD and PFD are.

Patronage jobs will always happen. Example. Frank Rizzo loved patronage jobs. Corruption will always happen on some level, imo. It's naive to think any of that will end. We have one party rule as you know so that affects a number of those jobs that you are talking about. Weirdly the Manager Director job used to be quite high profile. Nowadays it isn't. I don't even know who it is. Is that a sign of someone doing a great job under the radar or someone so insignificant that the position doesn't matter so much?

We will have new city controller in January so that will be a new barometer about how well the city is managing its money.

I also paid the wage tax for decades without complaint because I valued the police & firefighters. We saw the wage tax inch up as businesses left, so we actually understood the reason behind it.

I also totally agree about your comment about Rizzo.

[thedirtypirate]

How do we have a thread on the city's budget and not one person has mentioned PICA or anything about how the city has to construct 5 year plans.

I mean I have created plenty of threads about Philly's finances. Everyone knows the BIRT, Business Income Reciept Tax, is one of the biggest killers of Philadelphia growth.

Companies hate this tax:
https://beta.phila.gov/services/paym...ipts-tax-birt/

David Oh introduced legislation last week to allow any company that moves here and supplies a certain number of jobs or revenue, to be spared from paying it.

https://phila.legistar.com/View.ashx...3-B61BEE7162F2

[kyb01]

Originally Posted by cpomp

A majority of the million dollar condo sales are people from the suburbs.

Philadelphia is no where near NYC or San Fran in terms of a pricing crisis. I think the city of Philadelphia desperately needs rich people moving into town. People are pissing and moaning about high prices and no affordable housing when the city is by and large a dump and extremely affordable.

Center City is something like 5% of the land area in Philadelphia? Add in some surrounding neighborhoods and its what 15-20%. So that is barely 1/4 of the city that is becoming a playground for the upper middle class and the rich. I see no problem with that.

And I also do not see a huge bubble forming in Philadelphia, the construction seems to happening at a healthy pace.

Please stop saying the city is "by and large a dump" because that is not really true. You are insulting all of the people who do not live in cool neighborhoods because, oh my, they live in those God awful row houses. You know better than this.

[kyb01]

Originally Posted by thedirtypirate

How do we have a thread on the city's budget and not one person has mentioned PICA or anything about how the city has to construct 5 year plans.

I mean I have created plenty of threads about Philly's finances. Everyone knows the BIRT, Business Income Reciept Tax, is one of the biggest killers of Philadelphia growth.

Companies hate this tax:
https://beta.phila.gov/services/paym...ipts-tax-birt/

David Oh introduced legislation last week to allow any company that moves here and supplies a certain number of jobs or revenue, to be spared from paying it.

https://phila.legistar.com/View.ashx...3-B61BEE7162F2

Too many people are in a swoon about how Amazon could solve all our problems which it won't.

[cpomp]

Originally Posted by kyb01

Please stop saying the city is "by and large a dump" because that is not really true. You are insulting all of the people who do not live in cool neighborhoods because, oh my, they live in those God awful row houses. You know better than this.

The city is by and large depressed... how's that? Look out the window on a train from New York to Philadelphia, fascinating sites, but that huge swath of the city wouldn't fall under the stable category.