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Article: House market here is hot, official says: Paul R. Levy, Center City District president, says no real estate bubble is about to burst. Instead, "there's a strong demand.
- Article from:
- The Philadelphia Inquirer (Philadelphia, PA)
- Article date:
- September 12, 2006
CopyrightCOPYRIGHT 2006 The Philadelphia Inquirer. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Joseph A. Slobodzian
Sep. 12--Call it a chill, call it a lull, but don't describe the Center City housing market as a "bubble about to burst."
At least not to Paul R. Levy, president of the Center City District, who told reporters yesterday that recent housing statistics show a "correction" but that Center City has shown it has the ability to annually absorb 1,500 to 1,800 new units of owned and rental housing.
"The sky is not falling," Levy said. "The demand for Center City housing is quite strong and quite sustainable."
Levy made his remarks at the release of a new report by district researchers analyzing residential growth ...