Case shiller Number 1 performing market Portland Oregon

[Jay Hinrichs]

well for all you stat's folks Portland tops the list this go around.

It is very robust market here.. as we tend to get the over flow from CA. and lag behind CA about 12 to 18 months...

One of my new home projects I am building we had targeted 350k sale price when we hit the market Oct 2015. .. we are now at 370k today.. sold one today for 369k.. so nice upward movement nothing of the level of premium bay area but when you take that and average it over 22 homes we have remaining.. ( sold first 5 at the 350 to 355k number) that's a close to 500k gain for the project in 4 months.. So just living the dream I guess..

those that bought rentals here a few years back are loving life as well.. rents went stupid rising up 50% in many cases.. what was 1000 3 years ago is now 1500... but that still on SFR's brings most in at the .08% rule.. but for multi there is some pretty nice gains and returns happening in an uber Strong and safe market Risk wise.

[Jay Hinrichs]

@Mike Nuss  Excellent point the new buyer the millennial.      buys for a different reason.

they want Urban core.. they want walk score.. they want things the buyers did not want years ago. they don't want to live in a suburb... so the demand is created by those that want to live there. So they create their own competition as it were.

However if you released a lot more suburban acreage so there was no shortage dirt prices would be lower and housing would be lower in the burbs.. Like in many areas of the mid west for example building lots in nicer areas peak at 30 to 40k... so you can provide a nice 200k product.

when our cheapest burb lots are 80k if you can find one.. 300 plus becomes starter