Portland, Oregon real estate has weathered the subprime storm fairly well. While most of the country has been struggling with tumbling real estate prices, Portland real estate keeps moving along at a study pace.
Many people in Seattle seem to think of Portland as the little sister from the south, but Portland is becoming much more than that. In my opinion, Portland has surpassed Seattle in many aspects, with one of the biggest being transportation. Seattle, especially downtown, is dreadful to get around. Traffic is a mess, and other than busses, mass transit is non-existent. Seattle leadership keeps talking about an extended monorail system but years—and millions of dollars—later we are still waiting and wondering if it will ever happen.
On my last trip to Portland, I enjoyed their light rail system very much. I took it from the airport to the hotel and then later to the Rose Garden where I watched the Trailblazers play. There was no traffic to deal with, no cars, no cabs. That’s travel as it should be. The last time I watched the Sonics at Seattle’s Key Arena, I drove around for half an hour trying to find parking before coughing over $20 bucks. Portland seemed like a dream (and not only because their basketball team actually won the game).
That is just one aspect, and Portland has a lot more to offer. In my opinion, it is just as beautiful as Seattle, has better infrastructure, and is more affordable. It is quickly gaining a name for itself across the county, and should only continue to grow.
I wouldn’t say that Portland real estate is on fire, but the mere fact that it isn’t losing value puts it as one of the top cities for real estate in the country. The housing crisis isn’t over, and investors need not rush, but Portland real estate is certainly worth keeping an eye on.
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