No, people driven out by high Bay area prices are moving to Portland & Seattle and driving their prices higher so there is some resentment on their part, especially Portland. There is a rivalry between SoCal & NorCal.
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New normal? What $1M buys in Seattle
- Thread starter dealmaker
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No, people driven out by high Bay area prices are moving to Portland & Seattle and driving their prices higher so there is some resentment on their part, especially Portland. There is a rivalry between SoCal & NorCal.
In the late Nineties, people were selling their houses in Cali and moving to Seattle and Portland, and with that amount of money, they were buying two houses. One to live in and the other to rent, which made the real estate market unaffordable to the locals and I remember then, that some of the locals got so upset, they were throwing rocks at cars with Cali plates.
Today, the real estate prices in Oregon are getting softer, but sky rocketing in Seattle and that is due to the Job market and the Chinese money! You see, Seattle is similar to San Fran has big Chinese community, where money is white washed easily!
I have a relative who bought a property in Seattle over 15 years ago. (financed with stock market profits I made for him)
The house itself is a small nothing, but the land, oh, the land.
The house itself is a small nothing, but the land, oh, the land.