Latest Portland Metro Employment Grows 2.5% Year Over Year, Beating U.S. Growth of 1.6%

The State of Oregon Employment Department Released its Portland Economic Indicators. The Portland metro area saw moderately strong employment growth of 2.5% over the last 12 months. That 2.5% is a slight increase in momentum over the past few years and noticeably faster growth than the U.S. Rate of 1.6%.  Click to read the latest report.

Meet HFO Broker & Research Director Jack Stephens

HFO Broker & Research Director Jack Stephens offers insight into working at HFO. [Video: http://youtu.be/hV8n7FE2B1w]

Oregon to Gain 258,000 Jobs Over 10-Year Period

Oregon will add 258,000 jobs between 2012 and 2022, according to recently released projections from the Oregon Employment Department. This represents a 15 percent increase in employment over 10 years. The Portland tri-county area of Multnomah, Washington, and Clackamas counties will see 16 percent employment growth by 2022.

Statewide, the construction industry is projected to have the fastest rate of employment growth (29%).

Read the full report. 

Portland Set for 100x Web Speed Project

Portland is one of 34 cities slated by Google for Google Fiber expansion, which means its residents could soon browse the Internet at speeds 100 times faster than current broadband capacity allows. The move is expected to pay economic dividends by attracting entrepreneurs and cutting-edge businesses. Read more.

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Oregon Unemployment Below 7% for First Time Since August 2008

Oregon's seasonally adjusted unemployment rate was 6.9 percent in February, its first time below 7.0 percent in more than five years. The last time the state's rate was lower was in August 2008 when the rate was 6.7 percent.

Read more. 

The Top 5 Rental Priorities of Those Reaching Adulthood Around The Year 2000

Those who reached adulthood around the year 2000 are called "Millennials" and the MPF Property Management Insider offers up clues to the top five things in an apartment community that get their attention.

Read more.

Permit Parking Coming to Inner SE Portland

The Southeast Examiner reports that the City of Portland will allow creation of mini-parking permit areas in SE Portland. According to the Examiner, the City Council has approved a pilot program to decrease the minimum size and simplify the process to start a "Mini- Area" for parking permits.

"With the increase of the number of apartment buildings without parking and the anticipated general growth in the future, parking is a big issue. To address this condition the City of Portland, Bureau of Transportation is considering easing the creation of new parking permit districts in residential areas."  Read more. 

National Rental News: Fierce Competition for Renters Ahead in Some Markets

As CEO of Riverstone Residential Group, Terry Danner isn’t able to get out to the company’s properties as often as he’d like. So, he surveys site-level employees for their opinions on trends in the industry to get a grasp on what’s happening in all the places he can’t be. After looking at the survey results, here were his thoughts: "Just with the amount of supply coming on line, it’s going to be a fight for every resident." Read more.

Fannie & Freddie Forecast: "Another Great Year for Multifamily"

The Freddie Mac Multifamily Investment Index shows that multifamily should remain an attractive investment for the next few years. The Index, which measures the relative attractiveness of investing in multifamily properties over time, was at 146.3 for the third quarter of 2013, well above the historical average of 124.6. 

Click to read the full story.

Baby Boomers Downsizing to Apartments

According to MPF research, this year marks the beginning of a new trend. We baby boomers are apparently about to become empty-nesters primed to leave the suburbs en masse for lower maintenance digs! 

Read more at the MPF Property Management Insider

Oregon Pre-Recession Job Recovery Expected Mid 2015

Josh Lehner of the Oregon Office of Economic Analysis reports that Oregon added 37,300 jobs last year and 2014 is expected to show similar gains.

The official state economic forecast, produced by the Oregon Office of Economic Analysis, indicates that growth in 2014 will look similar to 2013. Annual job gains in 2014 could be 35,600, an increase of 2.1 percent. Employment is expected to reach pre-recession levels by the middle of 2015.
Read more.