For the first time in a while, new reports released regarding the economy show almost all good news. According to data that came out today, claims for unemployment benefits dropped to the lowest level in seven months in October. In that same month, new housing construction permits jumped to the highest level since March of 2010. Read More +
A couple weeks ago, the federal Home Affordable Refinance Program (HARP) announced a forthcoming change to their rules that would offer refinancing options to many paid-current homeowners who owed more on their mortgage than their house is worth. If some recently released data is any indication, those rule-changes may be especially helpful in the Portland metro area. Read More +
While recent modifications to the Home Affordable Refinance Program (HARP) hope to help prevent some foreclosures, another federal organization is offering recourse for victims of wrongful foreclosures. Read More +
The widely anticipated Standard & Poor’s/Case-Shiller index was released today, tracking home prices in 20 large US metropolitan areas, and the data are a bit of a mixed bag. Read More +
In an interesting and sure to be much-talked-about move, Congress is considering a proposed measure that would offer a visa to any foreign national making a cash investment of $500,000 in residential real estate (a single-family house, condo or townhome), according to the Wall Street Journal. The investment could go entirely to one residence, or it could be split between at least $250,000 on a primary residence and the remainder on another residential property, which could then be used as a rental. Read More +
Continuing on the mission to reinvent downtown Hillsboro, on Tuesday the Hillsboro finance committee will consider approving a $93,700 contract with the Hillsboro Downtown Association. Read More +
A definitive answer may be on the way as to the legality of MERS foreclosures in Oregon, thanks to a recent ruling in favor of MERS, contradicting an earlier ruling in a similar case. Read More +
As the economy continues its long attempt at a comeback, Portland does likewise, showing a perhaps-more-optimistic job growth in the most recently quarterly analysis than some would think. While Portland (and its metro area) is known for a higher-than-average unemployment rate, the most recent analysis places it in the top one-third of the nation’s 100 largest cities (number 33), well ahead of places like Los Angeles (91), Las Vegas (95), Sacramento (92) and Memphis (94). Read More +
Updating a previous story, the Beaverton City Council has approved an urban renewal plan put forth for a large area of central Beaverton, meaning the plan will now officially be on the November ballot for voters to give their final approval. Read More +
The economic outlook in Oregon isn’t crystal clear yet, but the state is continuing its steady journey back. Oregon gained 6,300 jobs in January, a significant number even after seasonal adjustments. The state’s unemployment rate now stands at 10.4 percent, down .2 percent from the previous month and the lowest it has been since it hit 9.9 percent in January of 2009, a full 24 months ago. Revised figures also show that Oregon added payroll 4,000 jobs in December, rather than eliminating 1,800 jobs as was previously estimated. Read More +
