Wednesday, May 25, 2005

Has he heard of mortgage rates?

Philly Mayor John Street is trying to take credit for the boom in housing values, by saying it derived from his anti-blight efforts, among others. Maybe, but the halving of interest rates in the last five years, paired with tax incentives that sent developers all around the city, probably had more to do with it. Sorry, John; probably not the right place to seek your mark.


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