I think the trend of moving to the suburbs after WWII is actually reversing itself. In part, at least here in downtown Philadelphia, one might guess that would be the case. Empty nesters see, to be making a migration back into the City which is putting Philadelphia Condominiums on the move.
This phenomena is not just happening in our fair city, but is happening all over the globe as folks seem to be simplifying their life styles and choices. Let's focus on the baby boomers for a moment. Now our parents left the cities for the suburbs after WWII, and come hell or high water, they weren't coming back. But the baby boomer generation, the same folks that attended Woodstock, and drove VW buses, are now becoming empty nesters, and they are really the driving force - at least as far as the Philadelphia condominium set is concerned - behind what is reshaping our city. They bring with them money, and a fair amount of it, and populate the upper echelon of the condos in Center City.
I recall back in the late 1980's when someone would transfer to Philly from say, Atlanta. They would magically bounce off Center City, and they would end up in suburbia. Today, I am seeing the polar opposite. Most folks come to Philadelphia for one visit and they get hooked and are here to stay.
The thought of the traffic, mega square footage of detached housing, and inherent lawn mowing is NOT on their agenda. These doctors and lawyers, etc. (some of whom used to be hippies and some of whom still are hippies.
haha) are interested in a simpler, less encumbered life. They are more mobile, seem to travel more, and leave duties like collecting mail and newspapers to the doormen of their new Philadelphia condominium. Philly is certainly on the move, with the perception of clean and safer streets, and a bond rating that isn't junk status. We are heading in the right direction with the addition of the transferees and empty nesters. Echoing the sentiment of urban expansion seen worldwide, we certainly are not being left in the cold on that issue. Look like Philadelphis is actually not as bad as folks (used to) say it is.
So if you are considering a move to one of our many fine Society Hill condos, or say Philadelphia lofts, you are not alone. In fact, you may find yourself simply joining the trend. Rittenhouse Square condominiums are as hot as the cheese steaks served around town, and with good reason. I read this bit of information in a recent edition of Parade Magazine: In the year 1800, just 3% of the world's population lived in cities.
This year, more than 50% of our planet's 6.6 billion people are city-dwellers. And that's only the beginning: The United Nations forecasts that at least 23 cities, most of them in the developing world, will have populations above 10 million by 2015. And how big will the biggest of the cities get? About 40 million. In fact, Tokyo and its immediate suburbs already have 35 million—more than the entire population of Canada. Although the UN still estimates that most people will be living in towns of only 500,000 or less, even with the growth of these megacities.
Welcome to the many new beautiful downtown Philadelphia condominiums. You are not alone in your search for a new lifestyle!.
Mark Wade is a Philadelphia REALTOR and a Philadelphia condominium owner. He loves Center City Philadelphia and is happy to be a part of this Urban Explosion! Check out his website at http://www.CenterCity.com for more information on his current listings, new construction here in town, and to read his blogs about Philadelphia! http://blog.centercitycondos.com