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Old 05-03-2016, 09:49 AM
 
1,624 posts, read 4,056,173 times
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You will be able to find an apartment but the 3 pets may be a problem. We have 3 pets but we have to pay pet rent which is an extra $150/month on top of a $1600 rent for a 3 bedroom home north of Vancouver.
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Old 05-03-2016, 09:51 AM
 
1,624 posts, read 4,056,173 times
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These guy's pet policy is a maximum of 4 pets. Summerfield Rental Homes | Homes for rent in Vancouver, WA - Summerfield Rental Homes - Vancouver - WA We were approved then found another house at the last minute.
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Old 05-04-2016, 08:54 PM
 
Location: Northwest
21 posts, read 24,421 times
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It's not an ideal market whatsoever but it's not true that I'll never find anything in Portland that isn't a total dump in my price range. I have found some & I'm in one now. I'm just looking for advice for better priced places & I appreciate everyone's positive input.
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Old 05-06-2016, 08:31 AM
 
197 posts, read 261,336 times
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Quote:
Originally Posted by westcoastdream View Post
It's not an ideal market whatsoever but it's not true that I'll never find anything in Portland that isn't a total dump in my price range. I have found some & I'm in one now. I'm just looking for advice for better priced places & I appreciate everyone's positive input.
Well you're right dump is subjective! Good luck!
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Old 05-06-2016, 10:29 AM
 
4,059 posts, read 5,621,284 times
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Quote:
Originally Posted by westcoastdream View Post
It's not an ideal market whatsoever but it's not true that I'll never find anything in Portland that isn't a total dump in my price range. I have found some & I'm in one now. I'm just looking for advice for better priced places & I appreciate everyone's positive input.
For the sake of argument, what part of the city do you live in now, and what's your current arrangement/cost?
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Old 05-06-2016, 12:27 PM
 
4,059 posts, read 5,621,284 times
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Quote:
Originally Posted by EasyBeezy View Post
I don't know all that much about real estate, so if any of you that have more knowledge in this area can tell me why I'm wrong, I'd welcome your thoughts.
Situation dependent of course, but it's unlikely the bubble can pop without other drags on the economy (consumer confidence, etc), even assuming there's no structural time-bomb built in.

I had more than enough assets on hand to buy in the downturn, but there was even less guarantee I'd keep my job/salary (and I did actually end up changing jobs and relocating during the downturn). An income stream was far more relevant to the viability of the purchase than the downpayment.

If you work in medicine the picture is different than if you work in sales. If you could have absolute job security, then definitely, waiting to try and time the market might pay off, but for an average person it's not nearly that simple.

Of course, for the person who doesn't have immunity to a downturn, buying at the peak and then getting laid off anyway when things drop likely leaves you underwater (and potentially with a foreclosure/short-sale or bankruptcy) down the road anyway, so that's not ideal either.
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Old 05-06-2016, 12:49 PM
 
Location: Tucson, AZ
1,588 posts, read 2,532,400 times
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I'd stay where you are now for another two years. The housing market is already showing signs that the price for local homes not in the most desirable areas has now reached its peak. It should flatten out over the next two month peak in the summer then collapse at the end of the summer. 2 years from now $1200 for a mortgage will be doable again. It wont be an amazing house but it won't be 289k for a shack in SE Portland or 330k for 3/2 in East Vancouver.

Donald Trump or Hillary Clinton will be our next president. That's already zapping consumer confidence.
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Old 05-06-2016, 01:07 PM
 
1,054 posts, read 1,428,276 times
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Quote:
Originally Posted by AndyAMG View Post
I'd stay where you are now for another two years. The housing market is already showing signs that the price for local homes not in the most desirable areas has now reached its peak. It should flatten out over the next two month peak in the summer then collapse at the end of the summer. 2 years from now $1200 for a mortgage will be doable again. It wont be an amazing house but it won't be 289k for a shack in SE Portland or 330k for 3/2 in East Vancouver.

Donald Trump or Hillary Clinton will be our next president. That's already zapping consumer confidence.
What do you base this opinion on?
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Old 05-08-2016, 03:53 PM
 
Location: Tucson, AZ
1,588 posts, read 2,532,400 times
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Proprietary software used by my wife's company that determines market trends. Also a dinner conversation I had with the owner of my wife's company who has been in real estate for 50 years. The company my wife works for buys single family multifamily and commercial properties.

It would be a lot to regurgitate the whole conversation. Foreclosures are up, job loss is up, prices are flat ($/sqft). Cash buyers are down, Approval rates are down. # of houses on the market is increasing. Top end prices are falling fast. Development permits are falling this quarter.

Anyway. You don't have to believe me. I could not care less.

A few months ago I made a post about parallels from the last crash.

I posted articles from various sources. There was an article in 2005 where the take away was there is no bubble every thing is fine, it's not going to be like the 2000 crash.

In late 2005 There was an article about crazy bidding wars, sales of homes with terrible sq/ft pricing compared to 2000. Case study Arizona. Where prices were rising 15% yoy. They made the same arguments. Lack of housing stock. It's California cash buyers the market is healthy, there is no bubble, nothing to see here folks. Lending restrictions are tough enough, Arizona is just so desirable.

In early 2006, the alarm bells were sounded by a small vocal minority of industry professionals who were laughed at and ridiculed.

It's now early 2016 and we are at exactly the same point we were at in 2006.

The seeds of the next housing crisis have already been planted - MarketWatch

Read the comments section. "You don't know what your talking about, the market is fine, this author is an idiot, the economy and jobs outlook has never been better, we have safe guards, we've tightened lending quals. Everything is fine.

10 Months from now we will be reading articles that could have been a copy/paste from 2007.

It will still be crazy through this summer and then the prices will start downward. Of course the reason for that will be job loss. Manufacturing is down big time in this area. Everyone is focused on Intel when they should be focused on the job losses we are seeing in manufacturing.
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Old 05-08-2016, 10:31 PM
 
Location: Oregon, formerly Texas
10,069 posts, read 7,241,915 times
Reputation: 17146
Does anyone really think that Portland metro houses are worth $300-500 per square foot? That a 2/1 725 sq ft. house in Lents is REALLY worth $250K??? http://www.zillow.com/homedetails/98...53911393_zpid/

Please!

It most definitely is a bubble. I don't think the pop will be nearly as bad as 2008 though. 2008 was compounded by what was going on in the banking sector. That was a once in a generation thing. Of course few people were aware in 2004-07 that the banks' rabbit hole went as far as it did, so you never know.

But AndyAMG has a point. We are due for a recession in the next few years and the resultant job loss will lower housing values. But probably not that much. I suspect they will drop & plateau off at the values of 2013/early 2014 before this most recent round of increases. Then they will go up further than before.

Last edited by redguard57; 05-08-2016 at 10:40 PM..
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