Recession has become a zeitgeist and the subject of scary campfire stories ever since 2008. Nonetheless, economic contractions remain a recurring certainty that is a predictable part of all economies.
Low inventory is reducing the number of short sales in Portland, Oregon in that home owners in mortgage default have a greater ability to sell their property for enough money to cover the mortgage and remain in a positive equity position.
The billion dollar question is this: will bad news from Wall Street and Asia rain on Portland’s parade or will the distant rolls of thunder merely echo nay-sayers beating the drum of chimerical doom & gloom?
Distressed property sales in the Portland metro area dipped in the second quarter of 2014 as the spring buying season heated up. Short sales dipped from being 6.1% of total sales to being 4.1% of total sales for the first
As a short sale specialist and Realtor in Portland, Oregon it is my opinion that our current housing rise will hit a bewitching hour when homes simply outstrip buyers’ ability to afford them. Stagnant wages mean that prices will have to level out or settle at some point down the road. How quickly we arrive at that critical mass of affordability will likely depend on whether home prices plateau or continue to rise.
National Housing Market: Luxury Homes Sales Soar, Affordable Homes Falter The volume of homes selling in working and middle-class price ranges is falling dramatically, while at the same time sales of luxury homes are ramping up by very large margins.
My sister, Dr. Julie Lockwood Pechacek (PHD, Economics) wrote the following response to my May 8th article on real estate and the economy. Response To May 8th Real Estate Crash Article: I read your article on the economy and the
Increasing home prices combined with increasing poverty may create another economic downturn….. For housing to sustainably go up in cost, American household incomes also need to rise proportionally (average household income has not risen).
Homeownership Lowest in 13 Years The US economy (having never fully recovered from the great recession) is experiencing a waning housing market and Portland Oregon seems to be following this national trend. Economic uncertainty surrounding the Federal Government shutdown, healthcare
Lackluster holiday spending and low US consumer confidence did not detour home buyers the last quarter of 2012. Home sales are up for the last couple months as buyers take advantage of low interest rates and depressed property values. Local