The Portland Housing Report
Life is great in Portland, that is why we live here. Right? We want to make local Portland citizens and business owners aware of a great resource to help you understand the housing market in the Portland area. With this information you can make great, educated decisions when purchasing, renting a new home or expanding and growing your business.
It is a good idea to sit down on an annual basis and take a good, strong look at the housing market in the Portland area. Doing so will help you determine if it is a good time to look at buying, or upgrading your home and setting a housing budget and plan you are comfortably able to afford. You can determine the health of the market by looking at the Portland housing report.
If you own a business and are based in the Portland area, the local housing report will matter to you for a number of reasons.
For starters, you might like to know what housing availability is and what the going prices are for residences. This is not just the price of homes for sale, but also homes for rent, average apartment vacancy rates, and also apartment rent rates. This impacts your business in many ways.
First and foremost, consider your own employees. Some years when home prices go up, it helps out employees that own their own homes, as they have better property value, but it increases the property taxes. Also, if home prices go up too much, businesses sometimes have trouble bringing in talent from outside the city. Some years it actually makes sense for a business to contract or outsource as much work as they can to other cities where housing is cheaper so businesses can give their employees and contractors a better standard of living.
A businesses customer base is another huge reason for checking the Portland housing report so much. If people are spending more on housing, they have less discretionary income to spend with your business. Many local Portland businesses sell in both brick and mortar stores in Portland but also online, so if they sense that spending money is going to get squeezed for locals in a particular market cycle, they can shift gears more to selling online.
Finally, the Portland housing report helps business owners decide where to place their stores. Rising and falling home prices do have a secondary impact on the prices of land for retail properties, although rezonings have far more impact on the availability of such properties. However, the housing report does tell a business owner where people are living and moving, and that is where we the new area of opportunity resides for expanding businesses. Opening stores where new growth and people are located. In the business world it is all about location, location, location.