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December 04, 2006
ah, the real estate market
Apparently Portland does have a ghetto, and it's where all the cheap housing is. We went open house surfing yesterday in one of the areas of town where we've seen affordable listings.
We found: no sidewalks, decaying houses, noisy traffic, gravel-packed potholes, trash in yards, clusters of rotting trailer homes hidden behind well-groomed hedges.
"Cheaper" these days means houses between $180,000 and $220,000, which means that people who don't want high-interest penalties or expensive mortgage insurance need to save up $36,000 to $44,000 -- plus closing costs -- to buy in to the slums.
Posted by Courtney_Sherwood at December 4, 2006 06:06 AM