Wednesday, September 23, 2015

Oregonian Cover Story: "Developers Can't Build Apartments Fast Enough"

From today's Oregonian:
Despite 22,000 new apartments coming on line in the metropolitan area since 2012, more than half in Portland proper, vacancies remain practically non-existent.
And according to some quoted in the article, Portland still remains a bargain compared to other West Coast cities. One source says:
"The portion of income Portlanders can expect to devote to housing has increased from 25 to 35 percent. Renters moving from major West Coast cities are used to paying 40 to 50 percent of their income for housing."

Meanwhile, the question being posed by Metro government: "Is Portland the next San Francisco?" is being debated. Last Friday a Metro panel discussion on the subject was packed. A report of that hearing is here, and a 21-minute video was posted by Metro here.