2 ms·
Also a Portland resident. Portland now has the fastest growing real estate price increases in the country: http://content.kgw.com/photo/2016/03/29/s%20and%20p%
by kyledrake 11y ago
Also a Portland resident.
Portland now has the fastest growing real estate price increases in the country: http://content.kgw.com/photo/2016/03/29/s%20and%20p%20home%20price%20increase_1459278018966_1266387_ver1.0.JPG http://content.kgw.com/photo/2016/03/29/s%20and%20p%20home%2...
This increase is not being matched by increasing salaries (they're increasing, but not at the same rate): http://koin.com/2016/03/31/report-portland-wages-not-keeping-up-with-home-prices http://koin.com/2016/03/31/report-portland-wages-not-keeping...
There are potential implications of this. Not just for people living here already, but for workers that may or may not be able to maintain mortgages at these rates if there's a contraction in the "tech" sector. I don't know how many people are weighing these decisions on a 10+ year timeline.
At the end of the day, I'm not sure how much of this is sustainable wealth. Portland got burned pretty badly in the 2000 crash, and really badly in the 2008 crash (at one point the unemployment rate was around 14%). History suggests it's a legitimate concern.