The Oregonian On Portland's Real Estate Market

An article in The Oregonian this week offers some perspective on Portland's real estate market. While the situation in many markets is tragic, the situation here is that we've slowed to a healthy and sustainable pace.

"But Loen and others are quick to note that, far from the homebuilding disasters occurring in some parts of the nation -- parts of Florida, Colorado, Arizona and Nevada are going up in figurative flames -- the cooling here is merely putting the industry back on par with what used to be called a "normal" year."

In addition to our outstanding land-use laws, here are some other factors that are helping us during this national crisis:

"Other factors working to minimize instability in the area's housing market, analysts said, are a continued influx of potential buyers from out of state, continuing low interest rates on 30-year mortgages, and relatively strong job growth."

With any luck we'll be able to ride out the "credit crunch" and the "mortgage meltdown" and the "real estate bust," -- as the media likes to hype it. In the meantime, it's a buyers' market here for sure -- one person's crisis is another person's opportunity, as they say.

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