Everyone’s Moving to Oregon

Gay Portland Real EstateA confluence of factors — including low supply, high demand, obstructive regulations and lacking infrastructure — is driving up housing prices in the state, a panel of state economists and housing experts told a legislative committee Tuesday, May 24.

“There are too few units given the strong and growing demand,” said Josh Lehner, economist with the Oregon Office of Economic Analysis. “In such a market, anything available at a remotely reasonable price and/or location is gone instantaneously. The lack of supply drives prices higher.”

Panelists recommended a series of policy changes, many of which lay outside the Legislature’s control. Local zoning laws, permitting rules and even the state labor commissioner’s interpretation of prevailing wage law for residential construction projects can drive up the cost and time it takes to build units, said Kurt Creager, director of Portland Housing Bureau.

“Who moves to Oregon? The short answer is everyone moves to Oregon,” Lehner said.

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Authored By Paris Achen
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