Frankford Gazette

Philadelphia continues to perform other housing markets, probably because we were less overvalued over the past few years.

From Hallwatch.com:

According to the latest analysis by Wharton and Econsult economist Kevin Gillen, the typical Philadelphia home fell in value by an average of 3.3% on a quality- and seasonally- adjusted basis. When added to previous price declines, Philadelphia house prices are cumulatively down 10.1% from their market’s peak of just over eighteen months ago.

Price changes across the city’s neighborhoods were almost all negative, and no areas showed any meaningful increases. From lowest to highest, the price changes by neighborhood are: South Philadelphia (-8.6%), West Philadelphia (-7.2%), Center City/Fairmount (-6.0%), Lower Northeast Philadelphia (-3.3%), Northwest Philadelphia (-3.0%), Kensington/Frankford (-2.0%), Upper Northeast Philadelphia (-0.6%), University City (+0.5%) and North Philadelphia (+0.7%).

Read the entire story here at Hallwatch.com.

From Phillyburbs.com:

Citing the troubled economy, Frankford Hospitals Thursday announced it has eliminated 100 full-time employees including a small number of “clinical” nursing positions.

The staff layoffs were part of an “operational analysis” that also involved staffing adjustments including eliminating opening positions and shifting employees into “alternative roles.”

A statement released by Frankford did not include many details including if the layoffs and job eliminations are across all three campuses; Frankford operates hospitals in the Torresdale and Frankford sections of Philadelphia and a third in Falls. Hospital officials were not available for comment after the announcement.

As the press release says, no information on which of the three Frankford hospitals are affected.  Read the story here.