It might seem like the Portland area is in the middle of a building bonanza. Compared to the dry spell that followed the collapse of the housing bubble, it certainly is.
But there’s growing consensus among regional economists that, despite the rebound in construction, the Portland area hasn’t recently added enough housing to keep up with population growth.
That means the persistently competitive market for both apartments and home sales might not ease significantly anytime soon.
A new report from the Oregon Office of Economic Analysis finds that, unlike other major metro areas across the country, builders in the Portland area didn’t produce a huge glut of homes during the bubble years.
Over the past 20 years, the Portland area has had one new housing unit for every 2.3 new residents. It didn’t stray far from that rate during the bubble, which was also a time of rapid population growth for the region. Read More – Oregonlive.com>