Oregon just became the first state with rent control state-wide. The new law limits rent increases to 7% per year.
The motivating statistic was that rent increases in the expensive areas of Portland have increased 30% since 2011.
I'll just wait here while you do the math.
In essence, Oregon has implemented a rent control that allows all previous, but objectionable, rent increases and then some.
In my opinion, the whole purpose of this bill was to trick people into thinking that Portland was not an overpriced market for rent. Hint: it is. Further hint: don't move here if you want to live in PDX proper and rent (only consider the burbs). BTW, houses in the PDX core are now $1M plus. The only good news is that PDX proper is just the 2 mile x 1 mile core.
Oh yeah, there are more expensive places nearby. Noticeably just outside the core.
[Reply]
Originally Posted by The Poet:
I have a friend who lives in San Francisco, which makes real estate prices in Portland look like Little Rock. You want to solve the issue? Chase all the high-tech industries out of town. :-)
Sure.
Portland and Seattle, in the highly desirable cores are within 5% of SF.
SF's core is bigger, tho.
I don't care where you live, $3500 per month for a studio is steep.
[Reply]
Originally Posted by The Poet:
I'd say $3500/month for a studio is robbery. Hey, I was spending about $1200 for three rooms in NJ, and THAT was robbery.
and in NJ, you probably got robbed!
[Reply]
Originally Posted by BigAsh:
and in NJ, you probably got robbed!
Nope, but almost did in Philly once.
:-)
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