februaryanna
februaryanna t1_jefbac7 wrote
Reply to comment by Gorge_Clooney in 47-story apartment building is planned above CVS store at 19th and Chestnut by ColdJay64
Real talk. I live in East Kensington, where there are apartment buildings going up on every block. My rent has not been raised on me. Now that there are so many empty units, some rents are actually going down. I’m renting my next place for $200 less than the current tenants are paying.
februaryanna t1_jefe5n9 wrote
Reply to comment by Aveman1 in 47-story apartment building is planned above CVS store at 19th and Chestnut by ColdJay64
Yeah, I’m not sure if this is the only neighborhood where rents going down has become the new norm, but it is a good case study for why more housing inventory is good for everyone even if the new housing itself isn’t extremely affordable.