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!