4 replies to this topic

[jdkacz]

http://www.oregonliv...i....xml&coll=7

I know some of the more debated markets (Miami, Las Vegas, etc) are potentially facing condo busts due to the high amount of flippers.

This article looks at if that is a possibility within the Portland condo market as some prices are beginning to flatten and even decline.

[tombarnes]

I think that there may be some flattening in the Miami/Fort Lauderdale market, but it won't sink too far down.  Too many people want to live near the water.  I think that Portland may be similar in that people naturally want to live in attractive places and will pay to do so.  Of course, I'd hate to see Portland be ruined with insensitive development.

[jdkacz]

Tombarnes -- I agree, I dont think there's really a bust, but that the prices are simply becoming... more economical? I think Portland is such a great city that it wont incur a huge bust market, but at this point developers may have to put a little bit more into their planning before throwing up another tower.

[Wild Style]

tombarnes, on Oct 29 2006, 04:52 PM, said:

I think that there may be some flattening in the Miami/Fort Lauderdale market, but it won't sink too far down.  Too many people want to live near the water.  I think that Portland may be similar in that people naturally want to live in attractive places and will pay to do so.  Of course, I'd hate to see Portland be ruined with insensitive development.

i live in fort lauderdale and I can tell you this statement is inaccurate. The housing market is going belly up in South Florida to the point many people are going bankrupt. You can thank the government and its lack of regulation along with Alan Greenspans promotion of sub prime loans for this one. Fort Lauderdale has a average salary of 28,000 a year where as the average home was 400,000 a year. This whole housing thing just got way out of hand. As we learned in my Economic Degree, price out stripped demand. I hope Oregan isn't in for the same thing but if it is, then thats good for those poor people who couldn't get a home. Pretty soon that will turn for them.

[gsupstate]

Judging by the amount of cranes currently up and the multiple new condos in the Pearl District, doesn't look like a bust anytime soon.  Portland is sooooooo reasonably priced compared to other West Coast cities.