Posted on 02/21/2019 10:15:59 AM PST by jazusamo
When rental prices go up, the supply of rentals will go up. The problem in a place like Portland is that they probably have so many land use restrictions and covenants that it’s very difficult for the market to respond quickly. If all the non-descript buildings are landmarked, then you can’t tear down a warehouse and put in 200 apartments as is happening here in Nashville.
“Oregons housing shortage is getting worse as people keep moving to the state, lured by its forests, mountains, coastline, relaxed lifestyle and job opportunities.”
Yeah, I’m sure that’s it.
When Mister Landlord stops making repairs, the government will step in after tenant complaints and fine the owner. After awhile, Mister Landlord is likely to utter a f*ck-it and stop paying his mortgage and property taxes so then Mister Bank and Mister local government will fight it out with Mister Bank likely paying the property taxes because they have the superior lien position to any mortgage. The end result should be, as someone else posted, plenty of good deals for owner-occupants who are handy. A classic case of real estate deflation that will spell doom for the state’s real estate market.
I’ve said this before...Oregon is the most anti-business State I have ever lived.
Intel and Nike are the only serious large companies and the State has been trying to grab Nike land for 15 years.
Good way to lock in the storage. Nobody will build anything new now.
I’ve lived there also, you couldn’t be more right and it’s much worse now than when we left in late 90s.
The next step is government confiscation of dwellings for rent. The confiscation of private property to force owners to take in the poor.
Yep! Rent control has worked great wherever it has been implemented... /s
The mere fact that this is happening tells you
how quickly this country is rocketing towards socialism.
You can pretty much write off the whole left coast.
Exactly! This is all by design, keep creating several “crisis’” then have government swoop in with more control...it’s all by design.
Exactly. Real estate costs will continue upwards, but what you can charge for rent in that ever increasing expensive property will be fixed.
Utterly insane. AOC logic
Yes, the only people moving to Oregon are illegals and dems from California.
I wonder what Kate Brown’s voting constituency(illegal aliens) will do when they can’t find housing or any jobs.
So private enterprise stops building housing. Next stop, the government starts building government housing and assigning people to units. Da Comrades!
“The next step is government confiscation of dwellings for rent. The confiscation of private property to force owners to take in the poor.”
That’s no joke. The blue states are completely LAWLESS—The U.S. Constitution be damned. Whatever they decree goes.
Maybe all those moving from CA to OR may want to consider moving back to CA. Please do not move to the sunbelt, whatever you do. My friend’s son, daughter-in-law and two grands are leaving CA and returning to the son’s home state of Louisiana. They exhausted their desire of paying $10,000 per month for a 3200 sq ft home. So, there will soon be one rental unit available in San Francisco. Any takers?
But property taxes and maintenance repairs to continue to rise.
...because that will increase the supply of housing.
(/lib 'logic')
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