Originally Posted by zilfondel
Considering the vast oversupply of condos, it wouldn't make sense to be building anymore for... how many years? 3-5?
I would bet it won't make sense to build more luxury condo towers for 7 to 10 years
. Look at the massive oversupply in South Waterfront alone, without even scratching the surface of what is already sitting empty in The Pearl. Heck, there's an oversupply of luxury apartments now too, with Cyan, Portland Center conversions and reconversions, etc.
They've built enough condos to last through most of the next decade.
And that's not just a Portland thing. It's just as bad in San Diego and Orange County as well. I'm sure there are also similar scenarios in Seattle, the Bay Area, etc.