Real Estate Developer from California when asked about gentrification. Later seen under a house she was planning to demolish.
It will crash again. It always does. But portland is probably always gonna be more expensive than the olden days. Its a desired location
They are trying turn it into a tourist destination for rich people with all these dammed condos they are building. How many summer crash pads for rich people are needed? And the homeless population is being handed bus tickets for California instead of being put in transition programs to get them back on their feet....treated like sewer rats. Economy is going to hell. Education is going to hell. Everything is going to hell. I think I might run for mayor
There's no doubt in my mind that Californian rent and developer practices have polluted Oregon's market..my mailbox is filled daily with realators wanting to buy my acreage so they can subdivide it.
Hate to say but its not a bubble, its a shift in who owns what. The houses are being bought up by investors using cash. They are not flipping them, they are renting them out and riding the house value surge, which is fulled by more investors. Its edging first time buyers out with cash and above value offers, and people who had issues in the 2008 crash are edged out due to credit. Its happening in most major cities across the country and if fucking sucks if you dont already own. http://time.com/money/4227153/millennials-cant-buy-homes-cash-buyers-investors/
In lane county they want land, not fixers...they are running out of places to build cul de sacs...they'd doze my buildings, put in a couple roads and build eight new houses....I'm still out of the city limits so I plan to keep it that way. I'll never sell.
Call it what you want, i really dont care because i already own, but the market will crash again at some point. That is a fact. The question is, how low will it crash? I dont think it would crash anywhere near 2012 levels. But at some point it will.
They've been doing that in California and Vegas for years with the mentally ill. Since they deem it too much too pay to have them hosptalized or provide services to get them functional. In fact it's kind of an annual bus circuit back and forth between the two states and Phoenix. Portland and Seattle are now in the mix as new residents call for more police to get that scum off their front lawn. My question is that when people lose their job and go completely under the poverty line.... is that when they lose their humanity and we no longer have any empathy?
@ripcityboy, sadly the merit of a person depends on their income and housing status. When a person loses their job, can no longer pay their rent, and lose everything, their humanity goes too. Dirty clothed people sitting on corners are seen as failures, when it is rather the system, the government which has failed them. There should be a safety net to catch said people, there should be proper systems in place to catch them before they fall to their demise. We live in a society where homelessness is becoming a epidemic. As inflation continues to rise without stop, and rent and property tax continues to rise with it, greed is overtaking us. It is not a sustainable system, and will sooner or later collapse.
My cousin owns a house on MLK and Church. 3 stories 6 bedrooms. He paid 89K. He's been getting offers in the 550K range so they can Airbnb the shit out of it. He says fuck them and their gentrification. He will never sell.
He should sell it and move to Italy. I wonder if they'd let me in. http://www.cnn.com/2016/09/08/europe/italy-supreme-court-masturbation/index.html
The one behind ACE Loans? https://www.google.com/maps/place/N...62d6d!8m2!3d45.5634012!4d-122.6613617!6m1!1e1 Take the money and run!
