It’s a new year and a new decade! In this video I review the Portland, Oregon housing statistics and what we should expect to see over the next 10 years. Hint, hint…. home-ownership rates and housing demand will likely increase!
Questions, comments? We would love to hear from you!
“The Big Picture” posted this chart today showing housing prices & GDP growth in the US from 1945-2009. In the late 1990s housing began to pull away from GDP. Retrospectively this was the first clue that the levels of house price appreciation were unsustainable.
Apparently Alan Greenspan wrote in an article for Emerging Markets Magazine that home prices would begin to stabilize in the early part of 2009. Specifically, “More conclusive signs of pending home price stability are likely to become visible in the first half of 2009.”
Although many of the prophetic statements he has made in the past have failed to come to fruition maybe this could be an exception. I personally tend to agree with him but I also think homes prices will remain low for another 12 months before any sign of widespread appreciation are evident.