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PSU Center for Real Estate 3rd Quarter Report

Portland State University’s Center for Real Estate just released its Third Quarter Report. The entire 71 page report can be viewed here. Not all of the report applies to what we discuss here so over the next few days, I’ll post a chapter and we can discuss it.

National Economy & Housing Market by Professor Gerard Mildner, Director, PSU Center for Real Estate is a three page chapter in the report. It seems to offer a good broad view of the overall world and national economies vis-a-vis real estate. Portland is still positive of the last 12 months but comments on this blog and the looming release of the next RMLS Market Action, still more than a week out on official channels, may change that. He concludes the Fed probably can’t continue to lower rates because of inflation fears and that for the first time in 70 years, the average home price will have declined.

 

Change in Home Prices, August, 2006 to August 2007
Salt Lake City, UT 8.00%
Raleigh-Cary, NC 6.42%
San Antonio, TX 5.89%
Seattle-Tacoma, WA 5.80%
Austin, TX 5.02%
Charlotte, NC-SC 3.92%
Portland, OR-WA 3.06%
Houston TX 2.99%

The list continues into negative numbers.

3 Comments on “PSU Center for Real Estate 3rd Quarter Report

  1. Thanks for posting the link to the entire report!

    “ By the end of 2008 there will be over
    1,000 condominiums added in the Pearl District alone.
    Current Pearl District condominium inventory is estimated at over 4,000 units. Nearly all of
    these new units have been added in the last 15 years, and the majority added in the last nine
    years. Including the projects currently in the pipeline, Pearl District inventory will increase by
    over 25 percent in the next year. “

    Wow. That’s a lot.

    The average Pearl District building typically has 150-200 units. So we’re talking about 5 towers? The Casey, The Encore, the two Pearl Waterfront buildings and the 937. I guess that sounds about right…

  2. Anybody else notice who funds their reports and the operations of the bogus PSU Center for Real Estate? From the Quarterly:

    I want to especially acknowledge the financial contributions for this journal from the Oregon Association of Realtors and the RMLS.

    Professor Will Macht
    Editor, Center for Real Estate Quarterly
    Associate Director, Center for Real Estate

    And this from their website:

    As the leading real estate program in Oregon, the Center for Real Estate at Portland State has just received a $50,000, ten-year commitment from CB Richard Ellis.

    CB Richard Ellis’s financial commitment today significantly impacts the Center’s ability to create programs that will impact the real estate community well into the future. In making this gift, CB Richard Ellis (CBRE) will join other operating fund supporters, including Wells Fargo, Ashforth Pacific, Weston Investments and the Oregon Association of Realtors, among others.

    Launched three years ago at the behest of the real estate community, Portland State University’s Center for Real Estate (CRE) is now a thriving institution with three degrees offered, an annual conference and over 50 students entering the real estate workforce as trained professionals every year.

    The Center strives to provide the real estate industry with talented and well-prepared graduates seeking careers in real estate; to foster innovation and creative development that enriches Portland’s reputation as an urban model; and to provide industry professionals with access to professional development and scholarly resources.

    in other words, PSU’s CRE is a propaganda mill desperately trying to lend credibility to an industry without a shred of honesty or ethics.

  3. Naysayer, I feel your pain and agree with you. Thanks for pointing out the obvious, but who else is going to fund this group, the Portland Tenants Association?

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