I don't think so, because supply is still low and demand isn't going down much. What event(s) would cause the demand to go down and or the supply to go up? There may be a tipping point where the market normalizes as supply and demand get closer together, but if there's going to be a bubble bust it'll be in the entire country not just Portland, and it'll be cause by a big event.
Oregon was the #3 state in percentage of inbound moves for 2016 (or #2 depending on the survey). There's no sign that will slow significantly any time soon. We all know that the supply is growing very slowly in Portland metro.
I hope I'm not too off topic here. Beginner investor here wondering how to get into this hot PDX market. Are most investors here buying and holding? I'm not interested in flipping with my full-time job. But curious how to get in in today's markets. I really appreciate the perspective of @Kevin Jorgensen . If getting in now is cheaper than waiting for a potential crash if that happens. Am I following that right?
I would talk to my lender or a broker I think you would have to carry 2 mortgages for a small amount of time and there might be some interest reserves built in for you.
Something I would look into, a lot of times those loan roll into a 30 year fixed and you keep the start interest rate.
You might only have to put a small down payment to secure your lot and home for pre sales.
OEA! What a great idea, I have not look at that but i have seen the info it has put out.
Anthony Varela hi Anthony, that's correct . It's essentially understanding that a sellers market now may be better than a buyers market in 5 years.
Decline in Affordability may be leveling off, but for this area, I think we'll see better than average appreciation that won't be decimated by a recession.
Plus just heard that the rate hike won't be as aggressive as earlier proposed. Might just see one more rate hike this year.
Derrick Aragon thanks Derrick, I'll play around with numbers while I evaluate real estate. Will send my ideas your way to help me decide if I'm rational or not. :)