Comments on: Another High Profile Portland Condo Stalls on the Launch Pad http://repdx.com/2008/10/02/another-high-profile-portland-condo-stalls-on-the-launch-pad/ Portland Oregon Real Estate Resources Thu, 22 Jul 2010 01:21:20 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: bearlee http://repdx.com/2008/10/02/another-high-profile-portland-condo-stalls-on-the-launch-pad/comment-page-1/#comment-653 bearlee Tue, 07 Oct 2008 00:37:23 +0000 http://www.repdx.com/?p=421#comment-653 Leo, is that why the Wyatt, the Ardea, and soon the ASA/Lovejoy are mostly vacant?!?! Leo, is that why the Wyatt, the Ardea, and soon the ASA/Lovejoy are mostly vacant?!?!

]]> By: Leo http://repdx.com/2008/10/02/another-high-profile-portland-condo-stalls-on-the-launch-pad/comment-page-1/#comment-654 Leo Mon, 06 Oct 2008 23:02:01 +0000 http://www.repdx.com/?p=421#comment-654 “There are a lot of us younger, well-off singles and couples that enjoy living downtown, but I just can’t justify spending >40% of my income on rent, even if I can” I don’t think you can. Most rentals don’t allow rent to be more than 30% of your income; they will reject your rental application. Unlike mortgage companies, landlords never figured out a way to offload their risk to a third party, so they still have an old-fashioned vested interest in making sure their clients can pay them. “There are a lot of us younger, well-off singles and couples that enjoy living downtown, but I just can’t justify spending >40% of my income on rent, even if I can”

I don’t think you can. Most rentals don’t allow rent to be more than 30% of your income; they will reject your rental application. Unlike mortgage companies, landlords never figured out a way to offload their risk to a third party, so they still have an old-fashioned vested interest in making sure their clients can pay them.

]]> By: Ni http://repdx.com/2008/10/02/another-high-profile-portland-condo-stalls-on-the-launch-pad/comment-page-1/#comment-658 Ni Sun, 05 Oct 2008 07:16:39 +0000 http://www.repdx.com/?p=421#comment-658 Condos whose mortgage payments will be in the range of 800-1500 per month, for sq. ft of 1000-2000 will sell. The problem is that people had to pay 200K for a 400 square feet apartment. And Portland is not New York. Condos whose mortgage payments will be in the range of 800-1500 per month, for sq. ft of 1000-2000 will sell.

The problem is that people had to pay 200K for a 400 square feet apartment. And Portland is not New York.

]]> By: Katharina http://repdx.com/2008/10/02/another-high-profile-portland-condo-stalls-on-the-launch-pad/comment-page-1/#comment-657 Katharina Fri, 03 Oct 2008 16:50:10 +0000 http://www.repdx.com/?p=421#comment-657 Sorry, one thing to add. My comment above applies to condos as well. It seems everything is either high-end or low income. Whoever decides first to build a condo tower geared towards us middle income folks is going to do quite well. Sorry, one thing to add. My comment above applies to condos as well. It seems everything is either high-end or low income. Whoever decides first to build a condo tower geared towards us middle income folks is going to do quite well.

]]> By: Katharina http://repdx.com/2008/10/02/another-high-profile-portland-condo-stalls-on-the-launch-pad/comment-page-1/#comment-656 Katharina Fri, 03 Oct 2008 16:46:11 +0000 http://www.repdx.com/?p=421#comment-656 While I am probably considered upper middle class, it would sure be nice to have some normal apartments available downtown. Why does everything have to go high-end? There are a lot of us younger, well-off singles and couples that enjoy living downtown, but I just can't justify spending >40% of my income on rent, even if I can. Why does that seem to be such a difficult concept for developers? While I am probably considered upper middle class, it would sure be nice to have some normal apartments available downtown. Why does everything have to go high-end? There are a lot of us younger, well-off singles and couples that enjoy living downtown, but I just can’t justify spending >40% of my income on rent, even if I can. Why does that seem to be such a difficult concept for developers?

]]> By: bearlee http://repdx.com/2008/10/02/another-high-profile-portland-condo-stalls-on-the-launch-pad/comment-page-1/#comment-655 bearlee Fri, 03 Oct 2008 16:43:49 +0000 http://www.repdx.com/?p=421#comment-655 I am curious as to when developers are going to start talking about the stagnant RENTAL market. How many high-end apartments can Portland absorb? I think the high number of vacancies at the Wyatt, Ardea, and 2121 Belmont are red flags. I am curious as to when developers are going to start talking about the stagnant RENTAL market. How many high-end apartments can Portland absorb? I think the high number of vacancies at the Wyatt, Ardea, and 2121 Belmont are red flags.

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