Philly Metro Gets a “Meh” on Housing Affordability
A few days ago, a Twitterer of my acquaintance wrote: “Can we retire ‘meh’ now?” And I think it’s safe to say that the word to express indifference or a state of being between good and bad has outlived its usefulness. So this is hereby Property Philly’s last employment of the word “meh,” but it’s apt: The metro area got a passing grade on interest.com’s second annual Home Affordability Study, but that grade is a C-. Overall, the study results weren’t good for wannabe homeowners who live in big cities because while home prices have gone up, salaries have not. Perhaps you’ve noticed?
For more on the study and its methodology, as well as other cities’ rankings, go here: Big city housing less affordable