Rumor What's going on in Portland?

It's a federal problem and should be dealt with at the federal level.

But it won't be. We'd rather spend 5-10x more so we can feel like we're superior and make them suffer.

 

Why wouldn't it be the responsibly of City and/or State?

 

Because states shouldn't have incentive to pawn their homeless off on others.

 

I don't have a subscription for this, but I'd love to find out why the real estate market in Portland is still booming with all the doom and gloom I read in here.

 

Heard a comedian from Portland do a bit about parking tickets...said he drives a Prius or a living and got 68 bucks in parking tickets in a week....he solved his problem by parking on the sidewalks and covering his car with a blue tent...nobody bothers his car all day and he gets no tickets!

 

No. You get the most responsible in homes first and and work your way down until everybody is in a home or has gotten into trouble and been arrested and moved through the system.

 

This has been discussed/explained.
Its mostly due to no new housing having been built, lack of options for people. Its simply supply and demand. Your home value isn't the only thing going up. Everything is. Inflation doesn't mean things are worth more, just cost more.
Things take time. Businesses leave first. Then the people. Lets see where real estate is at five years from now.

 

https://www.koin.com/local/multnoma...-local-meth-surge-in-and-around-portland/amp/

 

Most recent data shows houses decreasing.

https://www.oregonlive.com/realesta...ce-drops-15000-in-a-month.html?outputType=amp

https://www.noradarealestate.com/blog/portland-real-estate/

 

Baring a natural disaster real estate will be higher in 5-10 years than it is now.

 

per the links i posted your opinion would be incorrect. The upswing trend is ending. Housing is down $15k on average last
Month..

did you click and read the links?


“However, the most recent data shows that month-to-month price increases are decreasing. According to the most recent Regional Multiple Listing Service (RMLS) report, the median sale price in the Portland metro area decreased by $17,000, from $522,000 in July to $505,000 last month. That is a significant decrease. Although the Portland market remains competitive, buyers can take solace in the fact that there are fewer offers to contend with than there were earlier this year.

The new listings are coming up on the market but there are still fewer homes for sale in the Portland metro area. In a tight housing market like Portland, it can take some time to find a property that meets all of your criteria. If sales continue at the current pace, the 1.0 month of inventory of homes for sale reported in August indicates that it would take approximately four weeks to sell all available homes. When there are four to six months of inventory, a market is considered to be balanced between buyers and sellers.”

Its simple supply and demand…

 

This is a normal dip. They happen pretty much every year or two.

Not even the largest recessions in our history have held priced down for 10 years. At some point between 5 and 10 years from now home prices will be higher than they are right now. They may dip between now and then, but they'll come back. Every real estate peak in history has dips exactly like your link.

There is far more long term demand than there is supply. We have among the best climates in the country, and shipping ports. The only thing that will cause people to evacuate this area is a natural disaster of some kind.

 

Drivers park in north Portland courtyard that was funded as carfree oasis

HOW DARE YOU!?

 

Well you are certainly entitled to your own opinion. However im not sure your opinion is as certain as you seem to think it is.

yes there are rise and falls in real estate but cities can also have rise and falls with a steady incline or decline. having watched the real estate market closely the last five years, having bought three homes and sold two,
The market is massively overinflated and peope are paying more than the actual value. This is nwver a good thing as people end up upside seldom during a downswing. market trends show our bubble is overdue to pop. And it will evsntually and then values will plummet and many peope will be upside down. Its been detailed out for a couple years now. The experts believe its inevitable.
When someone pays $50 over actual estimated value, they will lose out most of the time. combine that airh the timber industry coming back and making newer homes built cost less than the last few years means that new buyers will buy new homes at a more accurate value than a used home that is marked up more than the actual value.

As soon as some houses go up to offset the supply and demand, everyone that overpaid will be upside down.

Ill take their opinion over yours.

 

Awesome. Feel free to make some financial decisions based on real estate prices dropping for a decade.

You should be able to make a killing.

 

already have and its been paying off so far.

 

Awesome! Real-estate nearly always pays off if you hold it long enough.

 

actually i sold just in time. The neighbor of my last home sale texted me last week saying he put his home up on the market and wished he had 6 months ago. Its now listed at $399 when he was advised last spring he could get around $450 for it.
If i would have held on longer i might not have seen the same profit i did when i sold.