How do you feel about economically depressed/stagnant regions?

[Mason V.]

I would like to know how the more experienced members feel about cities which have chained very little in the past 20 years. If you would like a specific context, The Dalles Oregon.That’s the town I grew up in and am thinking of investing in. It’s a demographically old dirty city with almost no growth in both population and employment over the past 20 years. About 10 years ago one of the top employers closed down severely damaging the city financially.

With that being said it is still the primary city for about 80 miles in all directions. The primary things keeping it alive are the dam, the medical community (one of the top athletic doctors in the nation works there) and a Google research facility. I don’t see the city ever improving nor do I see it dwindling either.

I know I make it sound pretty bad. However, I do have reasons to invest there. First, I recently moved back and thus would be investing in a familiar area. Second, rentals here are expensive and if I can get some cheap properties I know I can make money providing low-income housing of which there is almost none. Third, have you seen the prices in Portland Oregon?