Boomtown
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10/19/2005
Allentown is a community in which thrived on Bethlehem Steel and other similiar industries. Recently the closing of these factories and facilities have prompted a shift in the economy. There are many people constantly moving from Philadelphia and New York which is causing a lot of appreciation in real estate. Forbes Magazine ranked Allentown-Bethlehem-Easton #10 in the small boomtowns accross the nation. The state is currently trying to move in biotech companies, and the three cities and constantly building. There are more homes and business popping up every day. Bethlehem is building a casino and there are rumors of Walt Disney offering to buyout Allentown's Hamilton Street(popular street with numerous stores for shopping). These towns have been transforming over the last 40 years from small country towns to small boomtown cities. All of the old money businesses will be gone within 5 - 15 years, there are so many people taking advantage of the real estate market out here. A couple of years ago you could have gotten houses as low as $20,000, now that is near impossible. Crime is high compared to the rest of the surrounding areas, but most of the people who are coming are from New Jersey, New York City and Philadelphia, and Allentown's crime rate does not compare to any of those areas. After highway 78 opened up and route 33 connected to 78, many more visitors and residents have came to Allentown. People who are not aware of how an economy grows will see it as just a dull boring town, which is true for now. But for now, is definately the key phrase.
Mark | Allentown, PA