Part 4/11:
The results are evident: in Portland, the number of units under construction plummeted to just over 1,600 by the end of 2024—the lowest since 2011, during the aftermath of the Great Recession. Construction along with new development projects has come to a halt because investors perceive Portland as an unpredictable, unsafe, and unprofitable place to invest in real estate.
Investors and developers are now looking for more welcoming environments elsewhere—states like Texas, Florida, and Oklahoma—which have fewer restrictions, more geographical flatness, and less green-belt resistance. These regions are experiencing material growth precisely because their political and economic climates support development rather than hinder it.