Portland has highest housing cost increases in the nation (Molalla: 2015, apartments) - Oregon (OR) - City-Data Forum

redguard57 · 04-09-2016, 05:40 PM

Portland has fastest-rising home prices in U.S. | KGW.com

Portland home prices increased 11.8% from 2015 to 2016. I wonder how long this will continue and what effects it will have?

Rent increases are even worse - 13% year-over-year increase.

thedownlow · 04-09-2016, 06:34 PM

Wonderful news...

BLAZER PROPHET · 04-09-2016, 08:46 PM

I don't see this getting any better soon. We have a profound housing shortage of both apartments and houses. And all new apartments are very expensive.

Of course, if Bernie is elected housing will be free.

redguard57 · 04-10-2016, 10:55 AM

It's probably some kind of a bubble, but when this one pops, it will not deflate nearly as much as the last time. Housing values and rents will fall and plateau down to around late 2014 values. Difficult to foresee how much they'll go up before that though.

As for the effects... well, already borderline people are more likely to become homeless. That is in no way a good thing; there is already a serious homeless problem in pdx. It'll probably cause more traffic too. People priced out of the city will have to live out and commute in from places like Hillboro, Molalla, Vancouver, etc...

pepsik · 04-10-2016, 11:42 AM

The main question for me is WHY? Why exactly Portland? Is it possible beause climate (following SoCal)?

Thom52 · 04-10-2016, 12:13 PM

Quote:

Originally Posted by pepsik

The main question for me is WHY? Why exactly Portland? Is it possible beause climate (following SoCal)?

Its simple. Portland is the new Promised Land. Land of Milk and Honey. The new trendy place to move to, to get back to The Simple Life. .....Because they saw a photo of a nice scene on the internet, either some pro photographer's shot of nature or glamorized downtown Portland.

The common theme I see in all the Oregon relocation threads in the various forums, is people enamored by the name "Oregon" as a final frontier of simple peaceful living in a hectic world.

Then they just move, lock stock and barrel, with no significant savings, no housing lined up, no job waiting for them. SURPRISE! They aren't the first person to think of doing this and suddenly they find themselves competing with all the other people emptying out of the Rust Belt and other places.
Thus, suddenly a spike in homeless people.

"Think before you leap", should be the state's new motto, before it is ruined by its own internet popularity..... Like the Seattle area was.

It is certainly NOT the climate. Although all those pro photos taken on the spectacular few clear blue summer days, might make it seem so.

IMHO

Minervah · 04-10-2016, 12:50 PM

People are simply attracted to whatever is popular. Portland is just one of those places that has grown due to it's popularity over the decades as a place that had all the right things going for it. Because of that it's become very expensive and although it's fine for those who can afford all that it has to offer, it's not so good for those who still want to make it their dream but can't pay the price.

The right job skills, a job in which to use them and a good amount of cash is what you need to relocate to Portland. Continually asking why this is so isn't going to change things. As pointed out to the OP when he asked this on the General U.S forum, there are many nice cities in the US where he can successfully make a decent living but that's not going to be any of the more expensive cities he has his eye on.

pepsik · 04-10-2016, 02:21 PM

As pointed out to the OP when he asked this on the General U.S forum, there are many nice cities in the US where he can successfully make a decent living but that's not going to be any of the more expensive cities he has his eye on.
Yes! But i can`t understand it still! Sure i could agree that many people do prefer the wet & cloudy weather (not me, i`ve tired of this in here) rather than hot weather. Howewer within such tempo of price insreasing Porland will chase the SD either SF =)
BTW i think i`ll be true, supposing the high housing prices make to increase the rent? Thus Portland`s going to be second SF....Many people will not be able to pay for rent and they`ll be forced to move out of city (even out of neighborhoods (further NB).
What`s the middle cost of rent for 2br at the decent NB at now?

PS: i've forgotten to say - A LOT of immigrants still prefer exactly Porland. I don`t know how the way they can afford it....however they live and growing up (Inspite of high rent cost).

SWCM7950 · 04-10-2016, 03:42 PM

Quote:

Originally Posted by redguard57

It's probably some kind of a bubble, but when this one pops, it will not deflate nearly as much as the last time. Housing values and rents will fall and plateau down to around late 2014 values. Difficult to foresee how much they'll go up before that though.

As for the effects... well, already borderline people are more likely to become homeless. That is in no way a good thing; there is already a serious homeless problem in pdx. It'll probably cause more traffic too. People priced out of the city will have to live out and commute in from places like Hillboro, Molalla, Vancouver, etc...

Wanna bet???? The entire west coast is overinflated and going to pop! The entire US economy never recovered from the first recession and the next one coming down the pipeline is going to be much worse. Portland RE is probably as overpriced as Orange County, ~ 30%! OR has a terrible economy with the resource industries getting hammered over the last few decades. What is fueling the Portland economy? Retail? Restaurants? Organic farming? lol yeah right! I'm in MN and my wife wants to move to OR. But we have high incomes and family etc. Where we live is amazing. Right outside the twin cities in a beautiful
affordable suburb with great schools, no crime and large lots with nice houses. PDX is one of the most liberal overrated cities in the country. The weather isn't even that great. Drizzly, gray winters and increasingly hot summers.

SWCM7950 · 04-10-2016, 03:44 PM

Quote:

Originally Posted by Minervah

People are simply attracted to whatever is popular. Portland is just one of those places that has grown due to it's popularity over the decades as a place that had all the right things going for it. Because of that it's become very expensive and although it's fine for those who can afford all that it has to offer, it's not so good for those who still want to make it their dream but can't pay the price.

The right job skills, a job in which to use them and a good amount of cash is what you need to relocate to Portland. Continually asking why this is so isn't going to change things. As pointed out to the OP when he asked this on the General U.S forum, there are many nice cities in the US where he can successfully make a decent living but that's not going to be any of the more expensive cities he has his eye on.

Young liberals with no real life experience are attracted to places like OR where they think the nanny state will take care of them and the laws of global economics somehow don't affect them.