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Monday, December 17, 2012

Too many apartments in Eugene

Student housing down that way has quickly become overbuilt. [Via UO Matters.]

Comments (5)

Hahahahah, good. I hope those evil developers lose their asses, even though most of it is tax-payer subsidized. Aint no more kids being made with all the abortion and birth control and propaganda in schools about the evils of family values..

I've been seeing that in other college towns, too. Think that might possibly effect the current push toward bunkers in Portland? (Jack, you know I'm kidding. Nothing sort of a mass exodus, comparable to Seattle in the late Eighties, will keep the developer weasels from trying to get the city to pay for yet more crapartments. Even then, it'll keep going until the last hipster is stripped of its parents' retirement money, and then it'll be over.)

College is getting too expensive, is that why less need for housing, or is it because the value of a college education is not quite that valuable anymore?
Could that current push for apartment bunkers be towards workforce housing for some "good manufacturing jobs?" Is that the next plan, corporations may now bring back plants into the country, now that people will be able to work for less wages, with the subsidy of workforce housing?
Can anyone explain what workforce housing really does mean?

Too many apartments in Eugene because of low Federal Reserve interest rates and federal "stimulus" funds. That's not "money," right? Not "our" money, right?

Sounds like a giant circle jerk.

I was down in Eugene while that construction boom started. The city gave the developers massive tax breaks (the "MUPTE" program), and all it really did was make rents skyrocket, screw up parking (lots of crapartments with little parking, often built over top of existing lots) and give a lot of moolah for the big property management firms that liked to screw over students (e.g. Property Management Concepts and Von Klein). The other really odd thing was that most of the new units going in were 3-bedroom units, which, in turn, screwed up demand even further.

I was very lucky that I got a decent older unit with very reasonable owners right as the boom was hitting, and my rent stayed at the same pre-boondoggle price the entire time I was there.

Nothing makes me happier than seeing karma hit the scumbag developer/property management conglomerates and their pals at the City of Eugene.

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