Quote:
Originally Posted by 2oh1
Portland's population is growing rapidly. I don't think there will be a glut of apartments. The question is whether there will be a glut of apartments Portlanders can't afford to rent.
|
I have a feeling what will happen is what I've seen in other markets, where high end apartments are built, driving down prices of what used to be high end slightly while those push down prices slightly for the mid range ones. Affordable ones get forgotten until the mid range ones age/are neglecting enough that they're not mid range anymore. That's how it seemed to work in LA and San Diego, anyway.
It still led to a crappy studio in a decent neighborhood being $800/mo, but, well, that's the corner we seem to be painting ourselves into.