Portland Still Popular Regardless of Recession

Portland still ranks at the top of the list for young professionals looking for an affordable and desirable place to live. Contrary to popular belief, the current economy has not had a big negative impact on in-migration to Portland. It has been said that part of the reason Portland is experiencing higher unemployment numbers is due to the high number of unemployed individuals still moving into town.
"This drizzly city along the Willamette River has for years been among the most popular urban magnets for college graduates looking to start their careers in a small city of like-minded folks." (Wall Street Journal Article - Link Below).

http://online.wsj.com/article/SB124242099361525009.html

Federal Government Expected to Help Commercial Real Estate

"The Federal Reserve authorized longer- term loans for investors buying securities backed by commercial mortgages in a $1 trillion emergency credit program, taking a step the industry said was needed to avert defaults...Adding CMBS to the TALF 'will help prevent defaults on economically viable commercial properties, increase the capacity of current holders of maturing mortgages to make additional loans and facilitate the sale of distressed properties,' the Fed said today." (Link to full article below).

http://www.bloomberg.com/apps/news?pid=20601068&sid=asH8tMd6ss4c

Apartment News From Opus Northwest

Opus Northwest, a large developer of multifamily properties, plans a major shift over the next few years mainly due to current economic conditions. As unemployment numbers continue to increase, many owners and developers fear that newly constructed units will not be absorbed by the market and could lead to higher than anticipated vacancy figures. Local Opus Northwest projects include Ladd (downtown) and Park 19 (NW Portland). To read more on this topic, please follow the Daily Journal of Commerce Article link below.
Opus Northwest, L.L.C., a member of The Opus Group, is a full-service design-build development firm serving the northwestern region of the United States. Headquartered in Minneapolis, the company has additional offices in Denver, Kansas City, Portland, Seattle, and St. Louis. With in-house expertise in office, industrial, retail, multifamily, government, and institutional projects, Opus Northwest has developed more than 84.8 million square feet of space since starting operations in 1953. (http://www.opuscorp.com/)


Daily Journal of Commerce Article: http://www.djcoregon.com/articleDetail.htm/2009/05/14/Opus-Northwest-shifts-gears-in-recession-Firm-will-finish-current-developments-then-focus-on-constru