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Saturday, November 18, 2006
News Condos come to those who wait…
Posted by on Sat, Nov 18 at 6:00 PM
Pearl Condos are all going up for sale. I don’t know about you, but I’d just love a condo in the Pearl District. Yeah, whatever. You would too. Admit it. You’d be living near me, for a start. Well, that dream could be edging closer, as Pearl realtors’ inventories are ballooning like, well, like balloons! 
Jack Bog, who is prone to grouchiness and seems to hate anyone with higher lifestyle aspirations than “making fire in a warm cave,” and possibly, “inventing wheels for the car,” (jealous, is my guess…) is linking to this interesting Blue Oregon post (trust me, it really is interesting…), by Jensen Hagen. In July, Hagen started tracking the condos that “Buying Pearl Real Estate” had for sale on their website. At the time, there were 13 condos available in the Pearl for less than $200,000. Now, in November, there are 41. That’s an increase in reasonably priced condos of more than 300%.
Who knows why people are selling—perhaps to realize a return on the investments they made ten years ago, before the tax breaks on their properties run out or the infamous “real estate bubble” bursts. All I know is, how cool would it be to live on the twelfth floor and have a hot tub on the roof?! Maybe with a few copies of High Life magazine (Russian edition, of course) on the coffee table. Big Screen Cinema. Smoking jacket. Humidorrrrre. Beluga caviar. Big, mirrored coffee table….mgnaaa…
Comments
Now if they'll really start coming down to an affordable price. I could find any under $350k that were more than 900 square feet. How many single professional gay men and trust fund socialites are there in Portland to buy these places?
47?
I support skyscrapers and I really think portland should build UP...
... but not condos. Condos are the most retarded thing ever when made in this volume. Moderation is the key word here, people. Stop building fucking condos and get a clue.
Why hasn't the city made a condo to rental ratio standard?
The condos (and houses for that matter) sell for hundreds of thousands and we still have people sleeping in this streets.
Not cool.
I think it's because he's from Jersey.
Who is this Jack Bog loser? Is he for real? He pities them, and us?
Why would anyone say such a thing?
Haha, the Bog is a bitter old man. 50 years from now, somebody will get the great idea to build a condo on his grave.
---Why hasn't the city made a condo to rental ratio standard?
Because it's a free market and the market says more will buy. Also many buy then rent.
---The condos (and houses for that matter) sell for hundreds of thousands and we still have people sleeping in the streets.
People have been sleeping in Portland's street long before any of the housing boom. Let's try to stay on topic here.
The slow down in prices and sales is the best thing to happen to young middle class Portlanders. It will hopeful keep speculators out of the market, those that buy only to resale a year later, and leave the market for more local input. Also many of these could be opened for renters. The best part is that building is not slowing which will only add more condos to the market which will surly keep the prices stable if not down some more. If the situation continues, more builders will build rentals and lower priced units as oppose to the penthouses because the market will say so.
IMO this can only be a blessing to Portlanders and the Mercury who wants a 24 hour city vibe. Hopefully it will give a chance for all the young educated middle class people who moved and grew up here to catch up to the housing situation.
And Old Jerk Bog, nobody cares man! Save it for that over priced school you teach at. The 70’s are over buddy.
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I am not jealous of people who live in the Pearl. I pity them.
And you.