Rents are down 4% this year, according to the Oregonian, largely due to a flood of construction—tens of thousands of apartments are available, the occupancy rate has fallen 6%. The “rent vs buy” ratio has never been more favorable to renters, according to the NYT.
Here in Sellwood I do not see it. We rented the other half of our duplex for $1,890 and the listing agencies said, "Grab this bargain. Well below Sellwood rates."
True but. I’d just suggest that we avoid using Sellwood, or the house market anywhere, as comparables or indicators for housing the homeless. The steep rise in house prices and house rents isn’t really relevant. Only the biggest 3-bedroom) apartments have seen a rent rise. Studio and 1-bedroom rents are stable or down (-14% in the Pearl, -38% in Beaverton). There are individual rooms renting for $500 or even $350 in Gresham and Troutdale. Unlike other cities, we have enough housing. The problem is that this supply doesn’t match the real service needs of people with addictions and mental illness.
Huzzah on semi-finishing book; deep condolences re forced feeding in Porto.
Where do you see " cheap rents widely available?" I don't see that here in Portland.
Read the Oregonian article and was going to ask you what you thought of it. Glad to know it was decent reporting.
Rents are down 4% this year, according to the Oregonian, largely due to a flood of construction—tens of thousands of apartments are available, the occupancy rate has fallen 6%. The “rent vs buy” ratio has never been more favorable to renters, according to the NYT.
Here in Sellwood I do not see it. We rented the other half of our duplex for $1,890 and the listing agencies said, "Grab this bargain. Well below Sellwood rates."
True but. I’d just suggest that we avoid using Sellwood, or the house market anywhere, as comparables or indicators for housing the homeless. The steep rise in house prices and house rents isn’t really relevant. Only the biggest 3-bedroom) apartments have seen a rent rise. Studio and 1-bedroom rents are stable or down (-14% in the Pearl, -38% in Beaverton). There are individual rooms renting for $500 or even $350 in Gresham and Troutdale. Unlike other cities, we have enough housing. The problem is that this supply doesn’t match the real service needs of people with addictions and mental illness.