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There are hundreds of new homes being built in/near Hillsboro -- probably planned a few years ago when Intel "promised" it was expanding its Oregon facilities.
by insane_dreamer 1y ago
There are hundreds of new homes being built in/near Hillsboro -- probably planned a few years ago when Intel "promised" it was expanding its Oregon facilities. Can't see them selling now. The local economy's going to take a major hit.
- chneu 1y agoI live in Hillsboro. Home sales are fine. There are whole subdivisions selling out before they are finished. The $180k figure is also inflated. Most folks being laid off don't make over $100k.
- sverhagen 1y agoI don't think they're talking about actual home sales prices up to this point, but rather the situation going forward, over a longer period of time.
- lotsofpulp 1y agoPrice per sq ft in Oregon (except Bend) have been flat or down for a few years already (more than other markets).
- Wohlf 1y agoHillsboro real estate has slowed down and prices have come down a bit but the whole metro is short on housing, and Hillsboro is on the light rail lines.
- cloverich 1y agoMaybe, but Oregon as a whole is far behind on housing, and prices are inflated in the area especially relative to the available jobs. I think more likely it just drives home prices downward. There's plenty of holdouts (myself included) that would happily move sooner if prices came down.
- insane_dreamer 1y agoI think it’s interest rates that are keeping that from happening , not housing prices, which have been flat for the past 2-3 years. Since these are new homes not sure how much it will drive prices down as developers expect a certain profit. But you may be right!