Oregon Growth Trends Still High

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According to recent research from the American City Business Journals, Oregon ranks 8th in the US for overall migration gains. Surprisingly (to me), in gains, Texas is second, after Florida, and, in losses, New York ranks #1. The Oregon city with the most growth in Oregon (measured by percentage) is Waldport in Lincoln County, but this distinction is not really significant given that this city has a population of under 5,000. In the City of Portland, growth is (finally) slowing down, with about 580 people moving to the city every week, which is down from previous years. That number still seems significant when looking at traffic, housing costs, and general congestion. For those of us that work or live in Portland, I suppose at some point we all get used to having to practice patience because there are people everywhere, and having to wait in line no matter for what, when, or where is just a fact of life now.

Median home prices in Portland topped $400,000 for the first time in April. For comparison, the median value in 2012 was $225,000, suggesting that it's time to sell, not buy, a house in Portland. I finally embraced the reality that Portland isn't what it was twenty years ago and moved to Beaverton (and stopped looking at Zillow and seeing what the houses I used to own in Portland are worth now, having sold them for what seems like pennies compared to their current value). While the median home price in Beaverton is not much lower at $367,000, there are just a lot less people around and more space. I even ran into a turtle and a snake on my last walk with my dog. And I still could get an organic soy latte or a gluten-free sandwich if I wanted one (the reach of Portlandia is far and wide), but I'd only have to wait three minutes for it instead of seven (by my count). Even though I can't get a seat on the Max on the way into downtown on my way to work (apparently I'm not the only one with this Beaverton idea), I consider my living experience to have improved. So, grow on, Portland! Ohm.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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