For your one really smart friend who likes to get red-faced over Portland’s finest sours and display their political gravitas by blowing smoke out their port hole regarding the recent housing bubble, share these three Flashback listings from the 1940s to remind ‘em that with the advent of modern medicine, using basic math you learned in middle school, PDXer’s still underwater on their mortgages will live long enough to see their bicycle wheel sculpture/ bungalow make them millions someday. And, by someday I mean when they are 80.
1) $5950.00, 3 bedroom Alameda dream house with views of gardens and city lights. House designed to make housework a simple task. (Current value: $400K* Expected value in 2088: $26 Million**)
2) $1650.00, 5 nice rooms with a basement on a corner lot. Dandy location on N. Greeley. (Current Value: $394K* Value in 2088: $24 million**)
3) $2750.00, Motivated Seller must sell 5-rm Victorian house on the corner of NE 18th and Fremont, an easy stroll to Irving Park. (Current value: $699K. Value in 2088: $177 Million**)
PRP P.S. More seriously, turn your friend onto this interesting scholarly work and these recent articles about Portland’s unfortunate racist real estate history, including historical context, a current story about issues relating to gentrification, and predictions on where it may spread next.
* According to current Zillow estimates
** Deduced according to what my 6th grade math teacher Mr. Klise taught me about simple equations.
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