CNN/Money.com recently released a report on how overpriced some of America’s cities area. It is amazing in their opinion that cities such as Modesto, CA is a whopping 71% over where they see prices should be. Other cities of note in the west are Los Angles / Anaheim CA at 57% overpriced, San Bernadino / Riverside 64% overpriced and Santa Barbara 81% overpriced. By overpriced they mean that in Santa Barbara’s case ( the largest overpriced area in the USA according to this article) homes are priced at 81% more than they should be.
So where do homes in Portland, Oregon fit in? The same article says we are a “fair value” at 15% over what homes should be. Of course we have special circumstances here such as an urban growth boundary past which you cannot build, which causes prices to be higher within, but as we have always been the Portland area is still the bargain basement of the west coast’s major cities..
More information can be found by reading the article by clicking HERE
