Comments on: Portland Monthly Real Estate Issue & Neighborhood Reference http://www.repdx.com/2008/05/08/portland-monthly-real-estate-issue-neighborhood-reference/ Portland Oregon Real Estate Resources Fri, 21 Nov 2008 20:24:29 +0000 http://wordpress.org/?v=2.6.3 By: Ron Ares http://www.repdx.com/2008/05/08/portland-monthly-real-estate-issue-neighborhood-reference/#comment-45018 Ron Ares Fri, 09 May 2008 03:34:14 +0000 http://www.repdx.com/2008/05/08/portland-monthly-real-estate-issue-neighborhood-reference/#comment-45018 BL, I fished your first comment out of the spam heap, sorry. BL,

I fished your first comment out of the spam heap, sorry.

]]> By: bearlee http://www.repdx.com/2008/05/08/portland-monthly-real-estate-issue-neighborhood-reference/#comment-45017 bearlee Fri, 09 May 2008 03:21:21 +0000 http://www.repdx.com/2008/05/08/portland-monthly-real-estate-issue-neighborhood-reference/#comment-45017 I think my first comment got filtered?!?! So instead of the link I am going to C&P some of the content from the rebuttal to this issue of the Portland Monthly Remember that this was from a March 31st post and since then more bad news has hit Portland, including the Case-Shiller Report for February From the Portland Housing Blog: The latest issue of Portland Monthly hit the stands this week. The cover story is about Portland real estate and why Portland is still America’s hottest hometown. Here are the reasons why you must BUY HERE NOW according to Portland Monthly: Low foreclosures. In 2007 little more than one percent of our existing home loans were in foreclosure or seriously delinquent, giving us the second-lowest foreclosure rate in the country behind Alaska. My rebuttal: Oregon now ranks 25th in the nation for foreclosure activity according to RealtyTrac. Home prices still going up. In February the Economist reported that Portland was one of three U.S. cities where prices actually increased in 2007. While we saw an increase of 6.3 percent the rest of the country saw a collective drop of 8.9 percent. My rebuttal: Old news; Portland is now down 6% and dropping. Conservative lending practices are a tradition in Oregon. Sub-prime loans made up only 10.5 percent of our states home loan business in 2006. My rebuttal: Sub-prime was out of control here too. Asian connections. Oregon has a strong relationship with the strong Asian markets. Much of the states export business is oriented toward the Far East. My rebuttal: No rebuttal; I agree. The creative class loves Portland. Those clever professionals moving here in droves are doing more than just designing the sneakers and computer chips that keep our companies in the black; they are driving the housing market from the bottom up. My rebuttal: I'm tired of hearing how the creative class and Portland are peas in a pod. I thought the creatives rejected the Nikes and Intels of the world and created a path of their own. I think my first comment got filtered?!?! So instead of the link I am going to C&P some of the content from the rebuttal to this issue of the Portland Monthly

Remember that this was from a March 31st post and since then more bad news has hit Portland, including the Case-Shiller Report for February

From the Portland Housing Blog:

The latest issue of Portland Monthly hit the stands this week. The cover story is about Portland real estate and why Portland is still America’s hottest hometown. Here are the reasons why you must BUY HERE NOW according to Portland Monthly:

Low foreclosures. In 2007 little more than one percent of our existing home loans were in foreclosure or seriously delinquent, giving us the second-lowest foreclosure rate in the country behind Alaska.

My rebuttal: Oregon now ranks 25th in the nation for foreclosure activity according to RealtyTrac.

Home prices still going up. In February the Economist reported that Portland was one of three U.S. cities where prices actually increased in 2007. While we saw an increase of 6.3 percent the rest of the country saw a collective drop of 8.9 percent.

My rebuttal: Old news; Portland is now down 6% and dropping.

Conservative lending practices are a tradition in Oregon. Sub-prime loans made up only 10.5 percent of our states home loan business in 2006.

My rebuttal: Sub-prime was out of control here too.

Asian connections. Oregon has a strong relationship with the strong Asian markets. Much of the states export business is oriented toward the Far East.

My rebuttal: No rebuttal; I agree.

The creative class loves Portland. Those clever professionals moving here in droves are doing more than just designing the sneakers and computer chips that keep our companies in the black; they are driving the housing market from the bottom up.

My rebuttal: I’m tired of hearing how the creative class and Portland are peas in a pod. I thought the creatives rejected the Nikes and Intels of the world and created a path of their own.

]]> By: bearlee http://www.repdx.com/2008/05/08/portland-monthly-real-estate-issue-neighborhood-reference/#comment-45016 bearlee Fri, 09 May 2008 03:11:33 +0000 http://www.repdx.com/2008/05/08/portland-monthly-real-estate-issue-neighborhood-reference/#comment-45016 And a fellow blogger posted a great rebuttal to the article back on March 31st http://portlandhousing.blogspot.com/2008/03/portland-housing-buy-here-now.html As for rents increasing, I beg to differ. I am a renter as of last May I have noticed rents declining in the NW 23rd area and my 'hood, Forest Heights. The lower rents in FH can be attributed to competition. Too many folks trying to sell condos and townhomes and seem to have decided to enter the rental market instead. And a fellow blogger posted a great rebuttal to the article back on March 31st

http://portlandhousing.blogspot.com/2008/03/portland-housing-buy-here-now.html

As for rents increasing, I beg to differ. I am a renter as of last May I have noticed rents declining in the NW 23rd area and my ‘hood, Forest Heights. The lower rents in FH can be attributed to competition. Too many folks trying to sell condos and townhomes and seem to have decided to enter the rental market instead.

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