ACTION! PORTLAND IS READY FOR A CLOSE-UP
The national press zoomed in on Portland Oregon recently, and liked what it saw. A strong housing market and superior quality of life ratings suggest that the action is just beginning.
 Where home prices are hot now despite the housing slowdown
The Wall Street Journal, May 10, 2007
All real estate is local, and the Portland market is still catching up with the national housing boom. A strong economy and cautious builders mean that it is unlikely to suffer a serious slump.
Cities ranked and rated
Sperling’s Best Places, published April 2007
Portland comes in third (up from twelfth last year) out of 400 metropolitan areas. It is the only northwest city in the top ten!
Real Estate report card-five best and worst markets
CNBC, May 11, 2007
In Portland, “a booming local economy is supporting a continued boom in the housing market” thanks to companies like Nike and Columbia Sportswear.
Cheaper to Rent
Forbes.com, May 16, 2007
A national research firm assessed the 50 largest markets to determine whether it makes more financial sense to rent or to buy there. In Portland it makes much more sense to rent.
For a detailed picture we go to local sources. Here are two recent reports about employment and the economy.
Oregon Labor Trends
Oregon Employment Department, May 2007
The state reports that retail trade, a proxy for discretionary income, added 6,200 jobs, or 3.2%, since March 2006. In spite of the talk of a building slump, construction employment remains strong when compared to the past 20 years.
Oregon Economic and Revenue Forecast
State of Oregon, May 2007
This quarterly look at the state economy notes that 1Q 07 marks the 15th consecutive quarter of job growth. Population growth is forecast to be higher than the U.S. average (it grew 1.6% last year), and private non-manufacturing jobs will increase at about 2% per year for the next three years.
www.Tfn-IRE.Com
|
