Short Term- Temple University Main Campus off campus housing looks stable but there is no inventory in the immediate off campus area. The investor demand is growing and the supply is low which will probably always inflate values there. Keep an eye out for areas East of the off campus section in 19122 all the way to Front Street. The long term outlook there is good due to the thriving neighborhoods East and South.
Long Term- it will take many years before the 2 campus locations merge to create on long strip along Broad Street that is revitalized. The Temple Medical School Campus is too speculative right now for many new and inexperienced investors and it absolutely wont work number wise for people flipping properties. The fear factor must loosen up and the mortgage industry needs to create more/better/less restrictive loan products for investors. There is a huge demand where people are seeking rehabs and development opportunities to build up these neighborhoods & commercial districts but no loans out there for them. Development particularly in the commercial HUBS like those between the 2 Temple Campuses will increase jobs and revenue along that stretch of Philadelphia.
Rent and Hold are the two words that will work in both campus neighborhoods. There is more potential for gain in the long term in the Temple Hospital area IF or WHEN THE HOUSING and MORTGAGE INDUSTRIES improve. Property is cheap in 19140 as well as land and lots.... more