Real Estats

“The greater Portland area is expected to grow to nearly 3 million people in the next twenty years, according to population forecasts the Metro government released Tuesday.

Metro did the forecast mainly to help planners see if the Portland area’s urban growth boundary needs to move, and make room for more development. The area covered by the forecast stretches far beyond the current growth boundary. It includes parts of seven counties, including two in Washington state.

Oregon law requires Metro to ensure it has sufficient land inside the growth boundary to accommodate 20 years of growth. This 20-year forecast finds that birth and immigration rates will combine for growth much like the region has seen in the recent past. Planners expect between 600,000 and 750,000 more people, by 2035. Add that to the current 2.3 million people, and you’re close to three million.

Metro councilors will take up the forecast next month, as part of the urban growth report, one of the first steps in possible expansion of the growth boundary.”

While the rise in interest rates has taken the wind out of the sails of the housing market, 2013 will prove to be the best year for housing markets since the collapse with values increasing in all but the most rural markets. the biggest city center markets will see double digit increases in prices for the year with some markets returning to the activity similar to the easy money days of the early 2000’s.