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The article says that the increasing numbers of For Rent signs were all found on older suburban houses, which includes owner-occupied detached homes. So it seem
by drak0n1c 9y ago
The article says that the increasing numbers of For Rent signs were all found on older suburban houses, which includes owner-occupied detached homes. So it seems they are all feeling pressure to reduce prices.
- philipkglass 9y agoI don't see that in the article. The article features For Rent signs in front of older apartments: "More new apartments are coming on line, and now for rent signs are more plentiful than mushrooms after the first autumn rains. Take a look: a bunch of pictures We photographed these signs in the space of about an hour on a recent sunny afternoon in Portland’s close-in East side neighborhoods. These signs are all in front of existing, older apartments." The article's inflation chart is just for multi-family rental pricing. Hence my follow-up question if anyone knows of pricing effects on detached home sales. (I'd like to move back to Portland, but housing prices appear to be way up since I left a decade ago. And I now have too many pets for an apartment.)
- evanlivingston 9y agoDetatched homes, or HUDS, have a really aggressive tax policy in Portland making them very expensive to rent out as apartments. The policy promotes using these units as airBnB rentals in place of longer term housing for residents.
- Falling3 9y agoYea, I don't see any mention of that here. I recognized several of the apartments from the pictures and these are all Inner Portland apartment complexes.