Portland condo prices are sinking. What it means for owners, first-time homebuyers

Just before West Burnside ascends into the mossy green trees of the West Hills, the road traverses an upscale condo-and-storefront district.

Such is the view for Denise Ivey, 75, who moved from Atlanta in 2021 to be closer to her son and his family.

Ivey leveraged her equity from previous homes and a pandemic-low interest rate of just under 2.9% to buy a condo near the Zupan’s Market just off West Burnside. She paid $655,000 and put about $75,000 worth of remodeling into it…

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