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Philadelphia’s condo boom lures hipsters and baby-boomers

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March 25, 2018
Fans of the movie Rocky may not recognise Rocky Balboa’s old neighbourhood. The famously rundown streets of north Philadelphia are home to several new upscale restaurants and expensive condos and town houses.

“Hipsters are moving in,” says Kevin Gillen, an economist with Drexel University’s Lindy Institute. But millennials aren’t alone. Baby boomers — who are old enough to have seen Rocky in theatres — are joining younger people in moving to the city, sending home prices to new heights.

Click here to view the full article published in the Financial Times. Download the PDF here