Question

In order to compare the real estate markets in pittsburgh and philadelphia, what are the things that you should consider?

Answer 1

Answer:

When comparing the real estate market of any region or state, there are factors for consideration:

a) Population size

b) Employment status

c) Real estate market

d) Renting strength

e) Price

f) Quality in terms of home structure and a serene environment.

Explanation:

In the question, there are two American cities up for comparison: The city of Pittsburgh and the Philadelphia city, both in the Pennsylvania region. Both cities have comfortable environments which are habitable but here, we have to choose or rather compare both. The first factor is the population size. The two cities which are in the same region, have a considerable population size but when compared, Philadelphia has the upper hand. In real estate business, population is key as a region which a better and fuller population is appreciated more. The second factor is the employment status of the inhabitants. The employment status of these two cities are commendable but Pittsburgh is quite flabbergasting. The employment rate of Pittsburgh to Philadelphia is up to 57%. Employment status is a key determinant when real estate market is mentioned because employed persons are the ones who can actually pay when due. The third factor is the real estate market. This is another factor which is very important in determining the cities' real estate market. Over the years, Philadelphia has shown positive signs of a healthy real estate market which nicks that of Pittsburgh. Other factors listed above have clearly been favourable to Philadelphia because of their location but in terms of price, Pittsburgh appears cheaper with an average price of $1258 compared to Philadelphia's $1,652.