Rumor What's going on in Portland?

exactly. So its def not certain real estate will maintain value or keep going up aNd as i indicated and the links i provided said, the trend upward is about over.
Houses have skyrocketed in the costs to build. Lumber, plastics, trucking has all gone waaaayyy up over the last two years. As those prices fall back to the norm, the houses built and bought during that time will decrease in value to meet the mean.
All data indicates we could be in really tough tomes ahead with many people ending up upside down on their mortgage.

 

Were not going to stop building houses forever.
as soon as costs of goods level out, new housing developments will pop up again and buyers will buy the new homes over the overinflated used homes.

Costs of goods may not fall soon, but of/when they do, that means that the increase of real estate value is not true.
For example:
If my home is worth $20k more now than 2 years ago, but my cost of living went up by 10k then the net increase in value is not the same. So when we say a home increased in value by 20k over two years, thats not accurate.
As indicated in the articles i posted, the largest reason for the continued increase in value as well as inflation, is the roll off effects of covid.
So yes maybe. If covid sticks around forever, we may never see anything drop.
I believe were out of the covid issue in a year or two aNd in five years things are back to a relative normality.
If/when that happens, everyone who bought during this time, will have lost money.

predictions are hard. Thats why its considered a gamble by many. But as in gambling there are trends and odds and currently they do not favor a sustainable market as is.

 

Well luckily you live wherever you live and not Portland….. you don’t have to worry about it. Just to let you know, my house will be worth $75-$100K more than today.

 

Guess the Oregonian can’t make up their mind.

https://www.oregonlive.com/business...imb-portland-metro-monthly-market-report.html

 

everything i bought and sold except the house i bought and live in now, was done within the city limits of portland.
I beleive you live in one of the nicer areas in town and nice areas will always be the last to drop because the neighborhoods are better maintained.

 

no doubt. I think some of it has to do with location, but also i think the push from real estate agents is this:
“Buy now before you pay even more next month!”
So data can be manipulated to show as much to get people to buy hastily, trying to avoid paying more down the road.
Thats just a thought. No rumors or evidence.
Funny how oregonlive has had two articles opposing each other. The only thing i can say is my article i posted is more recent than yours i believe? But why would a couple weeks make Ny real difference?

sooo tough to trust news and reports. This is a perfect example of why im so untrusting of anything these days.

The only other thing i can sat is we both posted oregon live but i did post. Other, likely more reputable source that also shows signs of a downswing coming.
Thanks for the link. We must all try to see all sides of things.

 

I feel for young people, as purchasing a home in PortMetro is almost cost prohibitive.
I read where we have the highest housing cost as a percentage of income.
My grandson said if I cant afford to buy a home here he’ll move to another State where he can.

 

The wave is coming. Anyone buying now is going to be upside down in5 years in my opinion.

 

https://katu.com/amp/news/local/cri...e-obriens-robbed-at-gunpoint-twice-in-a-month

 

https://www.wbtv.com/2021/10/11/hom...derway-one-person-killed-northeast-charlotte/

https://6abc.com/south-philadelphia-shooting-home-invasion-philly-robbery-23rd-street/11193343/

https://www.cleveland19.com/2021/06/28/car-theft-is-rise-ne-ohio-says-hudsons-chief-police/

 

That sucks. Unfortunately this thread isn't about Cleveland, Philadelphia, or Charlotte.

We can create a thread for them though, i suppose?

 

@THE HCP is, like, the Truman Burbank of Portland, Serial, dude.

 

Then you just wait for it to go up again...

 

Where are they going to build? In Portland, with the urban growth boundary, there isn't anywhere.

People will keep moving here from California and driving prices up. There is more demand than Portland can meet for decades.

 

My house is up nearly 60% since I bought it six years ago.

 

No doubt about it.

 

People are becoming more brazen all the time. Unreal.

 

Been gone for a week, so just enjoyed a fantastic lunch with the wife. Stimulating the inner city economy one meal at a time.