Update for Portland Landlords
Recession in Rural Oregon
What it is:
There continues to be an increasing divide in the economic recovery between urban and rural Oregon. It is estimated that rural Oregon needs another 8,000 jobs to be fully recovered from the recession. By most measures, Oregon’s economy is roaring, but for some of the poorest residents, the economic growth in Portland actually makes life harder. Well-paid workers drive up home prices and rents, while those in low and middle income jobs find themselves shut out. Half of the jobs in the state are in a three county metropolitan area, while in four rural counties, unemployment is still well below pre-recession levels.
Why it’s important:
Two Oregon cities that have made the transition from a rural town to a thriving small urban center are Bend and Hood River. These communities accomplished this by expanding their tourism industry, and by growing their recreational amenities. Some visitors became locals, and some moved their businesses to the area, further diversifying the local economy. Other Oregon communities with depressed economies could offer a similar opportunity for growth and diversification, as well as future investment opportunities if they find their own path to growth and job development.
For more information on real estate or property management in Portland, OR contact us at Grid Property Management.
