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Podcast: News For Reasonable People
Episode: Ritz Carlton Million-Dollar Condos at 50% Off: Progressive Portland’s Freefall Continues
Description: Remember when building a luxury Ritz-Carlton tower in downtown Portland seemed like a brilliant idea? Fast forward to 2026, and we've got a 50% fire sale on units that can't even move at half price. What could go wrong with $7.85 million condos surrounded by open-air drug markets, zombie mini-marts, and streets you wouldn't walk at night?We're breaking down how this 460-foot skyscraper went from Portland's luxury flagship to an absolute albatross—with one-bedrooms slashed from $1.2M to $600K, two-bedrooms cut from $2.6M to $1M, and three-bedrooms gutted from $3.3M to $1.6M. Only 11 of 130+ units sold, and the lender is desperate to...