Affordable housing: an increasingly unattainable dream in Lower Merion

By
Real Estate Broker/Owner with BIG Realty

As quoted from the Main Line Times:

"Affordable housing means more than the sale price on a home. It is a reflection of the kind of community we wish to have in Lower Merion. Successful affordable housing initiatives must be rooted in successful home ownership. To get there, several factors must be considered. Without any one of them, chances for long-term home ownership in Lower Merion Township evaporate. South Ardmore and Bryn Mawr have been targeted as locations for prime investment opportunities, and the result is that housing stock pricing has escalated, and home ownership opportunities have decreased dramatically. My community has become largely rental-based. Most of the people I grew up with have since moved away, unable to sustain the income needed to live here."

To read the rest of the article please click here.

As a Realtor on the Main Line I have watched affordable housing dwindle.  I grew up in front of Suburban Square on Glenn Rd.  I remember when Ardmore was kind of dumpy!  Now, I feel I need a second mortgage just to enter the town limits!

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Rainmaker
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Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Christopher,

Your post raises some good points, which I do not think have easy answers. Much needs to be done to effect affordable opportunities for both first time home buyers and the elderly on fixed incomes. Thanks, for your provocative post,   Fran

Aug 10, 2007 01:55 AM #1
Anonymous
85 year old great grandmother

I am an 85 year old great grandmother, in excellent physical and mental condition looking for a home I can take care of and provide safety, security and be a trustworthy tenant for a landlord who values a mutual partnership and friendship a little more than just cash flow. I am on a limited income of social security but my family will help make up the difference to make things work out. I do not drink or smoke and am obsessive about keeping things orderly, clean and neat. I have family and friends in the area and want to be near them. I am looking for an apartment/condo in the Devon-Mainline area but am open to other offers. Your loving-kindness would be appreciated.

 

Feb 03, 2012 10:34 AM #2
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Rainer
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Christopher Benedict

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