Go ahead and laugh at my conspiracy theory.
Antifa and the insane city council were bankrolled to intentionally wreck downtown portland, so that priveledged ulra rich investors could snap up these properties for pennies on the dollar.
Properties that later will be worth a fortune when the area recovers
When it recovers? When will that be? 200 years from now?
“Properties that later will be worth a fortune when the area recovers.”
IF the area recovers. And that is a mighty big if.
L
After the riots in the 1960s there were many folks who thought the same way you did—that “the fix was in” and some folks would get rich buying property on the cheap.
This was a theme in the classic cop show “The Shield” where a senior police official stopped law enforcement in one part of town, then bought real estate on the cheap, and then restarted law enforcement to improve the area so he could make a killing.
Meanwhile in the real world...buyers ended up with huge property taxes they could or would not pay and the banks/mortgage holders ended up with the properties.
In our area Hartford, CT was declared to be “the rising star” for decades.
That siren call crushed developer after developer.