A couple of years ago, it seemed like every major downtown in America was experiencing a condo boom, lending support to planners’ claims that baby boomers and others were moving back to the inner cities. Now most of those booms are busting: Las Vegas, Miami, Minneapolis, Portland — all the hip places.
Condo and office towers under construction along Portland’s South Waterfront.
Of course, real estate prices are declining almost everywhere. But there was supposed to be this huge pent-up demand for downtown living. Planner Harriet Tregoning, who once held the exalted title of “Secretary of Smart Growth” in Maryland, even wrote about the “coming oversupply of single-family home” in a recent book on urban planning. (Her article is given added credibility by being preceded by one by the Antiplanner.) Continue reading
