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Rent Hike

Though the City Council, Mayor Nutter, and the media have all discussed the Actual Value Initiative to death, little attention has been focused on the impact that the AVI will have upon renters. At a lunch panel covered by the Philadelphia Real Estate Blog last Wednesday, Paul Rhodes predicted, "Rents will go up. If I were to throw a dart board, I'd say that rents will go up 10 percent next year," but emphasized that some areas will show more change than others. [Philadelphia Real Estate Blog]