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This page contains a single entry from the blog posted on April 30, 2010 10:20 AM. The previous post in this blog was Playground flap gets cleared up. The next post in this blog is Zinger of the Day. Many more can be found on the main index page or by looking through the archives.

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« Playground flap gets cleared up | Main | Zinger of the Day »

Friday, April 30, 2010

Bad company

The Portland metropolitan area comes in at number 3 on Forbes's new list of "Tomorrow's Real Estate Trouble Spots."

Posted at 10:20 AM | Permalink

Comments (14)

We were slow coming in to the housing mess. History tells us that we'll be slow coming out.

I note that Eugene / Springfield area was ninth on the list as well

Posted by John Rettig | April 30, 2010 10:52 AM

I was listening to a real estate expert last year. They said due to our land use laws limiting land for development we lag the nation by ~18mos. That saves us from quick dips in property values but just delays long term declines.

Posted by Darrin | April 30, 2010 10:58 AM

I think the fact that our local economy is one of the nation's worst right now is going to keep housing down for a long time.

Posted by Jack Bog | April 30, 2010 11:00 AM

But it's Ok 'cause we are number 10 for a list of "fun cities" that appeared on the Huff Post today!
Some fun!

Posted by portland native | April 30, 2010 1:03 PM

At least we're on someone's Top 10 list.

Posted by Mike (the other one) | April 30, 2010 1:06 PM

Wait a sec . . . that is a bad thing here!

Posted by Mike (the other one) | April 30, 2010 1:06 PM

The obvious bias in the thinking of Forbes is that they place the blame for Portland's weak real estate market on land use laws. The odd thing is that they say Oregon's land use laws have kept home prices artificially high. So, if unlimited building was allowed, wouldn't that lower prices?

Posted by Peter Apanel | April 30, 2010 2:17 PM

Combined with the Case-Schiller Report's monthly list showing the Portland area with the largest decrease in prices of the 20 metro areas they survey; it's not looking good for home values in the Portland metro area this year.

Posted by Dave A. | April 30, 2010 4:31 PM

Don't they know we have streetcars?

This is all George Bush's fault.

$600 million for bike lanes ought to turn things around.

Sustainable, vegan, MLS pandering, pedaled powered green politics are the only way to get ourselves out of this crisis. Let's sell some more bonds and get another line of credit.

Posted by Mister Tee | April 30, 2010 5:06 PM

And in the center of it all is a Creepy mayor that a whole bunch of people can't figure out how inept and dishonest he is.
Instead they think he is great.

The land of nit wits.

Posted by Ben | April 30, 2010 7:35 PM

They said due to our land use laws limiting land for development we lag the nation by ~18mos.

Is it land use laws, or the lack of a manufacturing base?

It would seem that since we don't have any major employers here that employ thousands of blue collar workers, that Portland doesn't feel the brunt of recessions until later, when companies are forced to axe the white collar "creative class" folks who somehow get spared their jobs until the end.

After all, Clark County, Washington, has the worst economy in all of Washington because of its ties to the Portland metro area - and it is not bound by Metro's "line in the sand" planning.

Posted by Erik H. | April 30, 2010 7:57 PM

What the person said was by limiting development area it artificially inflates property values. That artifical inflation in the short term will cushion our values. But, if the downtrend continues, 18mos later our property values start falling. I would guess that is what Forbes is looking at in predicting a falling value in Portland.

Posted by Darrin | April 30, 2010 8:55 PM

Well, the land use laws have not been relaxed, so I guess Portland house prices are higher than they would be if we didn't have these restrictions.

Posted by Allan L. | April 30, 2010 9:24 PM

Cities in the Pacific Northwest appear on our list, in part, because some of the strictest land planning policies in the country have curbed sprawl and propped prices.

More Forbes ideological ca-ca. The alleged artificial props on home prices haven't disappeared, and it would seem to me that the Portland market would tank only if they did suddenly disappear and a new glut of exurban suburban sprawl mushroomed across Washington County farmland.

Besides, there remains some dispute about Forbes' (and the suburban development machine's) easy and lazy characterization of Portland's urban growth boundary.

Posted by Gordon | May 3, 2010 9:27 AM

In Vino Veritas

Quinta das Amoras, Vinho Tinto 2009
Mauro Molino, Barbera d'Alba 2009
Garda Chiaretto Rose
Columbia Crest, Two Vines Vineyard 10 White
Chateau Ste. Michelle, Pinot Gris, Columbia Valley 2009
L'Hortus, Rose de Saignee 2010
Maculan, Pino & Toi 2008
McKinley Springs, Bombing Range Red 2008
Trader Joe's Pinot Gris 2009
Montes Alpha, Cabernet 2007
Gran Sasso, Sangiovese, Terre di Chieti 2009
Garda, Classico Chiaretto Rose
Beaulieu, Cabernet, Rutherford 1999
Picos del Montgo, Tempranillo 2008
Chateau de Montmirail, Vacqueyras 2008
La Granja 360, Syrah 2009
Montgras, Carmenere Reserva 2009
Lange, Pinot Gris 2009
Columbia Crest, Horse Heaven Hills Cabernet 2008
Kirkland, Pinot Grigio 2010
Trader Joe's Coastal Syrah 2009
Columbia Crest, Horse Heaven Hills Merlot 2008
Trader Joe's Coastal Chardonnay 2009
Vieux Papes Red
Domaine de l'Aujardiere, Chardonnay 2009
Santa Rita, Cabernet, Medalla Real 2007
Penfold's, Koonunga Hill Shiraz Cabernet 2008
Guild, Red, Lot #02 2008
Dievole, Dievolino Sangiovese 2008
Laforet, Burgogne Chardonnay 2009
Columbia Winery, Merlot 2007
Bonterra, Cabernet 2008
Elk Cove, Pinot Gris 2009
Maquis Lien 2006
Scott Paul, Pinot Noir, Le Paulee 2007
Cameron, Chardonnay
B.R. Cohn, Cabernet, Silver Label 2006
Graffigna, Cabernet 2005
Palo Alto, Reserve Red 2008
Menguante, Garnacha 2008
Lange, Pinot Gris 2009
Felsina Berardenga, Vin Santo 1997
Anne Amie, Pinot Gris 2009
McKinley Springs, Bombing Ramge Red 2007
Vieux Papes Red
Dionysius Chardonnay 2009
Haden Fig, Pinot Noir 2009
Vega Montan, Mencia 2008
Chateau la Vernede, Coteaux du Languedoc 2007
Mount Defiance, Hellfire (White) 2008
Root: 1, Cabernet 2008
Columbia Crest, Two Vines Pinot Grigio 2009
Columbia Crest, Two Vines, Vineyard 10 White, 2008
Columbia Crest, Two Vines, Vineyard 10 Rose, 2007
Abacela, Grenache Rose 2009
Avia Cabernet 2004
Lemelson Pinot Noir, Thea's Selection 2007
Chateau de la Roulerie, Rose d'Anjou 2009
Casal Garcia, Vinho Verde Rose
La Ferme Julien, Rose 2008
Cana's Feast, Bricco Red, 2006
Hogue, Genesis Merlot, 2008
Owen Roe, Sharecropper's Cabernet, 2008
Kim Crawford, Unoaked Chardonnay 2008
J. Scott, Pinot Noir 2008
Edmunds St. John, White, Heart of Gold 2008
Columbia Crest, Walter Clore Private Reserve 2006
Stevenot, Cabernet, Sierra Foothills, "Stanford" 2000
Portuga, Vinho Rose 2009
Taylor Fladgate, First Estate Reserve Porto
Franciscan, Cabernet, Napa 2006
Chaparral de Vega Sindoa, Garnacha 2008
Quinta da Aveleda, Vinho Verde 2008
St. Francis, Chardonnay Sonoma 2008
E. Guigal, Cotes du Rhone Blanc, 2007
Edmunds St. John, Bone-Jolly, Gamay Noir 2008
St. Innocent, Pinot Noir 2006
Jigsaw, Pinot Noir 2007
Chateau Ste. Michelle, Merlot, Indian Wells 2007
Charles Shaw, Chardonnay 2008
Edmunds St. John, Bone-Jolly, Gamay Rosé 2009
Cameron, Willamette Valley Chardonnay
Il Valore, Sangiovese, Giovane, Puglia 2008
Duck Pond, Chardonnay, Wahluke Slope 2007
Kim Crawford, Marlborough Pinot Noir 2008
Domaine du Pesquier, Cotes du Rhone 2005
Cantina Zaccagnini, Montepulciano d'Abruzzo 2006
Domaine Matrot, Chardonnay, Bourgogne 2007
David Hill, Oregon Sparkling Wine, Brut
Chandler Reach, Monte Regalo 2006
Elk Cove, Pinot Gris 2008
Kirkland, Columbia Valley Merlot 2008
D'Aragon, Old Vine Garnacha 2008
Columbia Crest, Walter Clore Private Reserve 2005
Pavin & Riley, Merlot 2006
David Hill, Estate Pinot Noir, Barrel Select 2006
Castle Rock, Paso Robles Cabernet 2006
Magnificent, Cabernet, Steak House 2008
Conundrum 2008
Beaulieu, Cabernet, Rutherford 1998
Saint Cosme, Cotes-du-Rhone 2007
La Granja, Tempranillo 360, 2008
Santa Rita, Mendalla Real Cabernet 2006
Columbia Crest, Grand Estates Merlot 2006
Andezon, Cotes-du-Rhone 2007
Collegiata, Montepulciano d'Abruzzo
Troon, Druid's Fluid 2008
La Granja, Tempranillo 2008
Monte Antico, Toscana 2006
Vieux Papes, Blanc de Blancs

The Occasional Book

Jack London - The House of Pride, and Other Tales of Hawaii
Jack Walker - The Extraordinary Rendition of Vincent Dellamaria
Colum McCann - Let the Great World Spin
Niccolò Machiavelli - The Prince
Harper Lee - To Kill a Mockingbird
Emma McLaughlin & Nicola Kraus - The Nanny Diaries
Brian Selznick - The Invention of Hugo Cabret
Sharon Creech - Walk Two Moons
Keith Richards - Life
F. Sionil Jose - Dusk
Natalie Babbitt - Tuck Everlasting
Justin Halpern - S#*t My Dad Says
Mark Herrmann - The Curmudgeon's Guide to Practicing Law
Barry Glassner - The Gospel of Food
Phil Stanford - The Peyton-Allan Files
Jesse Katz - The Opposite Field
Evelyn Waugh - Brideshead Revisited
J.K. Rowling - Harry Potter and the Sorcerer's Stone
David Sedaris - Holidays on Ice
Donald Miller - A Million Miles in a Thousand Years
Mitch Albom - Have a Little Faith
C.S. Lewis - The Magician's Nephew
F. Scott Fitzgerald - The Great Gatsby
William Shakespeare - A Midsummer Night's Dream
Ivan Doig - Bucking the Sun
Penda Diakité - I Lost My Tooth in Africa
Grace Lin - The Year of the Rat
Oscar Hijuelos - Mr. Ives' Christmas
Madeline L'Engle - A Wrinkle in Time
Steven Hart - The Last Three Miles
David Sedaris - Me Talk Pretty One Day
Karen Armstrong - The Spiral Staircase
Charles Larson - The Portland Murders
Adrian Wojnarowski - The Miracle of St. Anthony
William H. Colby - Long Goodbye
Steven D. Stark - Meet the Beatles
Phil Stanford - Portland Confidential
Rick Moody - Garden State
Jonathan Schwartz - All in Good Time
David Sedaris - Dress Your Family in Corduroy and Denim
Anthony Holden - Big Deal
Robert J. Spitzer - The Spirit of Leadership
James McManus - Positively Fifth Street
Jeff Noon - Vurt

Road Work

Miles run year to date: 54
At this date last year: 50
Total run in 2011: 113
In 2010: 125
In 2009: 67
In 2008: 28
In 2007: 113
In 2006: 100
In 2005: 149
In 2004: 204
In 2003: 269