April 10, 2007
I am asked almost daily the future of Real Estate values in our ares. I often shine up the crystal ball to help find the answer. Seldom is it there!
I do know this much...the two closest major metropolitan markets to ours, Seattle and San Francisco, are significantly more expensive that ours. Are salaries in Portland that much less? No... Are the qualities of life in Portland that much lower? No... Are the schools worse? No... Are the recreation opportunities less? No
This leads me to two possibilities:
- Prices continue to climb in Portland
- Prices delcline in San Francisco, Sacramento, Seattle, and Vancouver BC
I know that our market is a little different, but I would contend as long as our neighbors to the North and South have property values higher than ours, Portland will be a poplar destination for imigration from California and Washington. My crystal ball says "Invest in Portland"!
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