Fonte da imagem：https://www.wweek.com/news/2024/04/24/portland-apartment-buildings-are-selling-cheap-is-that-an-opportunity-for-local-governments/
Portland Apartment Buildings Are Selling Cheap. Is That an Opportunity for Local Governments?
Portland has seen a surge in apartment building sales in recent months, with many properties selling at prices well below their assessed value. This has prompted some to ask whether local governments should step in and take advantage of the low prices.
According to a recent report by real estate firm CBRE, the average sale price for apartment buildings in Portland has dropped by nearly 20% compared to last year. This has created a unique opportunity for investors, but also presents a challenge for local governments who are looking to address the city’s affordable housing crisis.
“Many of these properties are selling for significantly less than their market value, which could provide an opportunity for local governments to acquire them and convert them into affordable housing,” said Sarah Stevenson, a housing advocate with the Portland Tenants United.
Stevenson and others argue that by purchasing these apartment buildings at discounted prices, local governments could help increase the supply of affordable housing in the city and prevent further displacement of low-income residents.
However, not everyone agrees that this is the best approach. Some argue that local governments should focus on working with private developers to build new affordable housing units, rather than acquiring existing properties.
Despite the differing opinions, one thing is clear: the current trend of cheap apartment building sales in Portland presents a unique opportunity for local governments to address the city’s affordable housing crisis. Whether they choose to seize this opportunity remains to be seen.