12.1%- Oregon's current unemployment rate, 4.7%- Multnomah County's current unemployment rate, which doesn't seem so bad compared to the state as a whole or to the country. As all the big media sources keep telling us, it will get worse before it gets better. How will that affect the real estate market in the Portland Metro area? Well, it's pretty simple logic: the more people lose their jobs, and can't afford their present home or to buy a new one, the more people are afraid they could lose their job, the less the look for a first or new home. It's bad for real estate. Portland has been seeing a leveling off of the drop in sales and prices, but they could go down even farther if this fear becomes a reality.
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