3 ms·
As a long time PDX resident (not "native" but Portland has been my home for 25 years) the current housing market alarms me. It's like 2006 all over again. The u
by steveax 11y ago
As a long time PDX resident (not "native" but Portland has been my home for 25 years) the current housing market alarms me. It's like 2006 all over again. The usual NAR "go go go!" cheerleaders, bidding up way above asking prices and as usual no one is asking "who in Portland can afford a $600k house?" I do not think good will come of this.
- santaclaus 11y agoAt least there seems to be more housing stock going in. North East Portland is a giant construction zone, at the moment. Stand on any corner of Mississippi or Williams and you see mega apartment complexes going up. Hell, they are even building new housing in the wasteland that is Lloyd center!
- limaoscarjuliet 11y agoWhich really means that when it crashes again (and it will one day), it will be deeper than before. I own a house in Atl that I bought while it was still in a slump. It's value went up, so I should be happy, right? I guess I'm stupid, but something tells me this is not good. Affordable houses are a good thing. High prices mean kids will not be able to afford anything.
- davidw 11y agoI recall visiting eastern Oregon just before the crash, and there were places in Prineville selling for more than that. Sure, they were big, and fancy, but... Prineville. It was mind boggling.