Oregon 43rd in "Underwater" loans
The reports are in, and as expected Oregon is weathering the storm much better than 42 other states. According to Money.com's article Oregon is 43rd in the nation when it comes to home owners owing more on their homes vs. what they are worth.
This is actually skewed by the Bend, Oregon market which was rated at one point as the most overpiced market in the USA and has seen prices drop a huge amount. While THIS article is dated, it also was written about when prices started to fall.
Bottom line; As I reported earlier, the Portland market is doing OK. We are down from 2-7% depending if which data you are reading (NAR-Natiional Assn Realtors vs. Case-Shiller) but people are moving here. My team and I are doing well. As Portland's #1 Realtor for Prudential Northwest Properties, I can report that while our sales are down from last year, we are still selling houses. Even NAR is reporting close to 5,000,000 home sales in 2008 and while that is down from close to 8,000,000 in recent years, it is still 5m people buying and selling homes.