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Portland's DOOM LOOP: $100M Towers Selling for Dirt After Woke MELTDOWN

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Manage episode 517983199 series 2792715
Content provided by Sean Reynolds. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Sean Reynolds or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Portland's doom loop just hit warp speed as two massive downtown skyscrapers sold for literal dirt prices - 80-90% off their original valuations! Big Pink went for $45 million and the Pack West building for $55.7 million, basically land acquisition value for buildings worth hundreds of millions just years ago. While other cities like San Francisco and Seattle are slowly recovering, Portland's progressive leadership keeps doubling down on policies that created this mess in the first place. We're talking about a city where businesses fled, office vacancy rates hit 35%, and the streets are overrun with drug-addicted homeless people chasing each other with machetes. The city council literally had to bring in their chief assessor to explain what these fire sales mean for tax revenue - spoiler alert: it's not pretty. When your downtown core becomes a 24-hour meth minimart and companies won't even consider leasing space because employees are afraid to walk outside, you've created the perfect storm for economic collapse. Is anyone surprised that businesses are choosing literally any other city over Portland? What did they think would happen when they decriminalized heroin and let Antifa beat on federal buildings for months? Like and subscribe if you want to keep watching this progressive experiment implode in real time!

  continue reading

3134 episodes

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iconShare
 
Manage episode 517983199 series 2792715
Content provided by Sean Reynolds. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Sean Reynolds or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Portland's doom loop just hit warp speed as two massive downtown skyscrapers sold for literal dirt prices - 80-90% off their original valuations! Big Pink went for $45 million and the Pack West building for $55.7 million, basically land acquisition value for buildings worth hundreds of millions just years ago. While other cities like San Francisco and Seattle are slowly recovering, Portland's progressive leadership keeps doubling down on policies that created this mess in the first place. We're talking about a city where businesses fled, office vacancy rates hit 35%, and the streets are overrun with drug-addicted homeless people chasing each other with machetes. The city council literally had to bring in their chief assessor to explain what these fire sales mean for tax revenue - spoiler alert: it's not pretty. When your downtown core becomes a 24-hour meth minimart and companies won't even consider leasing space because employees are afraid to walk outside, you've created the perfect storm for economic collapse. Is anyone surprised that businesses are choosing literally any other city over Portland? What did they think would happen when they decriminalized heroin and let Antifa beat on federal buildings for months? Like and subscribe if you want to keep watching this progressive experiment implode in real time!

  continue reading

3134 episodes

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