Sorry, that might have been a misleading headline! We meant to say Have Portland Home Prices Gotten Too High?
Below is a graph of Portland home prices over the past 25 years. From 1990 to 2005, home prices rose at a steady rate. In 2005, lending rules were too lax and loans were given to too many home buyers.
You can see how 2007 was the peak of the market and then the dramatic drop. But the fascinating thing is that if we didn't have the boom and the crash, home values would be right where they are today. What is the bottom line? The real estate market is healthy and where it should be. Its not easy to find homes, but we are doing it every day for our buyers with some creativity.