Where Will The Portland Real Estate Market Be Headed In 2017?

    The truth is no one knows for sure but here’s what the signs say: Growth

    • We are the cheapest big city on the west coast and it’s expected that 20,000-ish people are moving here each year.
    • We look cheap to most of the people moving here.
    • Rents are still rising.
    • Multiple offers are happening earlier than last year.
    • These interest rates are not sustainable based on history. This is about as close as you can get to free money.
      annual-mortgage-rates-2016

    I can imagine you are asking, “What about a meltdown like we saw ten years ago?”  Barring a war or the government not doing something epically stupid (fingers crossed) here’s why I don’t think we are poised for a similar meltdown.

    Mortgages are still hard to get. In 2005, if you could fog up a mirror, you could buy a house.

    The kind of loans available were not good. “Liar loans” where you could state whatever you wanted as your income for any job. 2-year adjustable rates with huge interest rate bumps and loans for 120% of the sales price.

    The economy goes in cycles and we will have a slowing at some point, it always happens. There are other indicators that the economy is more solid than the last run up.

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