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Full-Text Articles in Urban Studies and Planning
The State Of The Portland Msa Housing Market, Portland State University. Northwest Economic Research Center
The State Of The Portland Msa Housing Market, Portland State University. Northwest Economic Research Center
Northwest Economic Research Center Publications and Reports
On its surface, the rapid increase of home prices in the Portland Metropolitan Statistical Area (MSA) resembles the overheated moments before the housing bubble burst in 2007. OnPoint Community Credit Union, concerned that history may already be repeating itself, asked the Northwest Economic Research Center (NERC) to investigate speculation within the Portland housing market, provide a forecast of home prices, and summarize potential market headwinds and tailwinds.
To accomplish this, NERC estimates the change in local home prices due to ‘fundamental’ drivers. Using population and income to estimate a fundamental home price index (HPI), this analysis compares the fundamental HPI …