Portland #1 in.... Unemployment!!! (Beaverton, Independence, Brookings: real estate, 2009, co-op)

[thedrizzlemonster]

check it. this study just came out yesterday. So how does this measure into the Portland "Livability" metrics again? Perhaps time to consider other factors besides the ability to ride my pennyfarthing to the co-op for some farm-fresh eggs.

Brookings - Quality. Independence. Impact.

[Wing Feathers]

I'm not surprised.

[subsound]

You never know really what they use for metrics, it tends to get lost in the shuffle. It doesn't really surprise me too much to be so low, but I really think the major manufacturing areas (like Detroit) should be lower...that it is not is something that sends up a flag.

[John Shaft]

This is measuring the CHANGE in unemployment from Q1, 2008 to Q1 2009. We don't have the worst unemployment (I read today that Detroit's is over 22%), we have had the relative worst plunge in the nation. Still something to be proud of, I guess.

Now will someone explain to me why houses are still so expensive here?

[Rob Allen]

Originally Posted by John Shaft

Now will someone explain to me why houses are still so expensive here?

Because houses here are still in demand. Sellers lower their prices only when they have to.

[HonuMan]

Originally Posted by Rob Allen

Because houses here are still in demand. Sellers lower their prices only when they have to.

And as expensive as houses are, Portland's price run-ups during the real-estate boom weren't as severe as those of California and some other areas, so they haven't had as far to fall. In terms of real estate, it's still the cheapest major West Coast city. I have a decent but modest "starter home" in Beaverton, and I couldn't afford anything comparable in Seattle, the Bay Area, L.A., Santa Barbara, San Diego, etc.

People rightly point out that Portland homes are very expensive compared to average income. In certain industries, however, such as high tech, salaries are higher than average for the area. If you're fortunate enough to be employed in one of those industries, houses are more reasonable compared to income.