tag:blogger.com,1999:blog-4113767199444444516.post4098715916142858503..comments2023-10-03T04:34:39.407-07:00Comments on Portland Real Estate Outsider: The Next Wave is About to CrashPDX Outsiderhttp://www.blogger.com/profile/01596115115859601410noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4113767199444444516.post-61529876882034014212008-12-18T20:56:00.000-08:002008-12-18T20:56:00.000-08:00The "homeowner" badge won't be quite...The "homeowner" badge won't be quite as swanky as it used to be in these parts in a couple of years.<BR/><BR/>Fact is, BANKS own the vast majority of homes in PDX as well as the nation, and therein lies the problem.<BR/><BR/>Yes. "Affordability" and "Illusion" are two key phrases that the housing market in PDX and the nation will be coming to grips with in the not too distant future.<BR/><BR/>The psychology of the situation will be abruptly smacked upside the head by the invisible hand of the all powerful market.<BR/><BR/>Median home prices have done what they've done, yet median incomes have remained FLAT for roughly 8 years. The math doesn't work.<BR/><BR/>Hang on...it's going to be a rough ride in real estate for the next 5-10 years.<BR/><BR/>Unless one has no debt.<BR/><BR/>Debt = rip your face off losses in a deflationary spiral. And if our many "activist" folks in PDX really want to fight the system, save the planet, and realize "change" and "hope" that's above what their dog rolls in - they'd swear off debt and show the banks who's boss.<BR/><BR/>The banks run this country. Not the Dems OR Reps. It's that simple.<BR/><BR/>Sad. But simple.<BR/><BR/>Want to take the country back and put it in the hands of the people? Live debt free, transact with cash, and never pay interest.<BR/><BR/>F&*$ the banks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4113767199444444516.post-28825042302823148502008-12-18T07:21:00.000-08:002008-12-18T07:21:00.000-08:00Suspension of disbelief has run rampant this last ...Suspension of disbelief has run rampant this last year. Many Portlanders seem to assume that all men are islands and they have escaped the failings of high finance. The term affordability is an interesting term in the midst of this financial downturn. It seems that affordability was once attributed to those of low income status. That definition has been tweaked by the middle class buyer who wants the McMansion or the illusion of "I've finally made it." It is this psychology that has and will be difficult for many to adjust.Anonymousnoreply@blogger.com