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Trouble at the high-end?
Monday, October 01, 2007
It seemed strange to see this in the back of the Friday edition of the Wall Street Journal, where the real estate section is normally filled with dreamy spots for that perfect vacation home in some resort community far away from bright city lights.
Bend, Oregon appears to be bulging with housing inventory - according to Realtor.com there are over 2,500 homes for sale. According to the Census Bureau, there only 149,000 people in the entire county - that sounds like a lot of homes for sale.
2 comments:
I went on vacation in Bend recently-- a very nice town, but odd-- there is no industry supporting it, other than a little bit of tourism.
Met up with a friend-of-a-friend (an architect) who moved there a few years ago, and the story goes that up until about 6 months ago, Bend's economy was based on real estate and construction. Then the investment stopped, and people started backing out of pre-sale contracts...
I vacationed in Washington and Oregon this past summer. Housing developments on many mountainsides is a an abomination to the natural beauty of the area.
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