Quote:
Originally Posted by pdxtex
Portland real estate activity is kind of flat but our rental vacancy rate is the lowest in the country. Thats weird. I don't know who all these extra renters are. There is tons of apartment construction and the city lost population. Are people downsizing?
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families left for the suburbs and were replaced by singles/DINKs. this is basically why CA needs housing despite losing hundreds of thousands of people annually domestically (and the international immigration/natural increase isn't enough to make up the difference like it used to be)
Quote:
Originally Posted by Steely Dan
It's kinda nuts how high interest rates were, and how fucking cheap housing was, back in the day.
My parents bought the house I grew up in, in Wilmette, one of Chicagoland's highly desirable northshore suburbs, for $27K at a 9% rate back in 1976!
$27K in 1976 would only be ~$150K in today's dollars.
$150K would only be the down payment on a low-end house in Wilmette these days.
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Wow that's crazy. I feel bad for kids growing up today if their parents don't own property.