[johnliu]

"In 2011, only 445 new apartments came to market in the entire Portland Metro area. Three years later, the number had jumped nearly ten-fold to 4,367, according to the CoStar Group, a leading provider of real estate data and analytics. The frenzy peaked in 2018, when the number of new apartments reached 6,059. This year will not be far behind.

In all, more than 31,000 new apartment units were built in the Portland metro area over the last six years.

Until now, there’s been sufficient demand in the market to absorb the flood of new rentals. That may be changing, said Mark Barry, who for years has published a newsletter tracking the Portland apartment market. He pointed to predictions that the supply of new units will exceed demand for the next two years.

“We’ve never seen this kind of boom before,” he said. “Anybody betting against the Portland market has been wrong. But inevitably the pendulum is going to begin swinging back.” "