Is Portland Real Estate Overpriced?

Much is being written about the article in Forbes magazine that suggests that Portland real estate is so overpriced that only Seattle and San Francisco are worse. That's right - Portland is worse than New York, Los Angeles, Chicago, Atlanta, Miami, Boston, San Diego, and many more places.

Over at the Portland Real Estate Blog, local realtor Charles Turner is disputing that and comparing to the Money magazine article that says Portland has a "low past price risk".

Who do you believe? Money rates San Diego as the "scariest" housing market. It doesn't get mention in Forbes’s top ten. I have to lean in the direction of Money. Prices continue to climb in Portland; driven largely by low inventory levels and well qualified buyers that are jumping on low interest rates. Home prices are market driven. An overpriced house is still an overpriced house and will sit on the market. The seller may determine the listing price but the market will determine the selling price.

Check it out - and discuss over at PortlandRealEstateBlog.com.

July 23, 2005 Posted in elsewhere.