The future investment potential and risks in Portland, OR
I moved to Portland, OR with the intent to buy a SFH & house hack or purchase a multi-family. However, Portland has declined substantially in terms of homelessness taking over every neighborhood, trash piles everywhere, increased crime, looting & drug use, graffiti everywhere you look & the tenant laws are very anti-landlord. I just saw a new city proposal of making camping in parks legal. This is already happening esp in Laurelhurst Park but if it passes then we will see all our lovely parks overtaken with tents, trash & more crime. Plus decriminalizing hard core drug possession is only going to increase crime & chaos.
All of these issues are increasing, not declining & I don't see the light at the end of the Portland tunnel anymore. The current & proposed laws are all in the direction of increased homelessness & liberal drug use. I do love certain aspects of the city but have serious doubts about the long-term viability of Portland.
As we stand now, the demand for housing is off the charts with buyers overpaying due to low interest rates, but what are your thoughts on the housing market & Portland's health as a whole 5+ years from now?
Do you see the demand & appreciation for single family homes declining in the near future? I think as the homelessness increases as with the wacky laws & the lack of police officers we will see a major decline in 5+ years. Thoughts?