Is Portland OR being effected by the housing problems like the rest of the nation? Why or Why not?

The ARM loans have cost many people to forclose.
People are having a hard time selling.
The ecomony etc etc.....
Is it that way in portland as well?

I moved here in June from Boston and have yet to sell my Boston home, even after dropping the price over $100k. Mind you my Boston home was custom build, super insulated with lots of energy saving featues (radiant floor heat, energy exchange ventilation, low-e argon filled glass, etc.) and it is being overlooked because people are bargain hunting, fueled by the concerns you mentioned.

According to the media Portland's forclosure rate is lower than the rest of the country. Also, the prices in the Portland market have been remarkably stable, even rising in some case. However, the inventory of homes for sale (expecially condos) is very high, so I would expect some type of correction in the Portland market in 2008, although not as much as some parts of the country (i.e., like my beloved Boston).

In addition, Portland is a great city and has three major points in its favor;

1. People are still moving the Pacific Northwest for its outdoor activities, work/life balance and 'green' business/lifestyle.

2. Portland startups and 'green' businesses will weather the downturn in the economy better than other areas of the country.

3. People are willing to take pay cuts, buy smaller homes and live more modestly, just to live in the Pacific Northwest. Somethiing you don't see in other parts of the country (especially on the East Coast, where I'm from).

Chris

I dont think so. Houses are in big time demand in Portland so it's really easy to sell.