tag:blogger.com,1999:blog-3471471289744825428.post2045601160001966776..comments2024-03-11T00:31:41.186-07:00Comments on The Oregon Economics Blog: Update on Portland Home PricesPatrick Emersonhttp://www.blogger.com/profile/17242234148546323374noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3471471289744825428.post-65769863385477608952008-03-03T16:16:00.000-08:002008-03-03T16:16:00.000-08:00Let me also note that a possible problem with rely...Let me also note that a possible problem with relying on median prices is the heavy use of incentives and concessions to get the houses sold. In the last several months sellers have often been paying 4% of the buyers' closing costs. New home developers are throwing in incentives like vacations or decorating allowances. These don't get reflected in the final reported price.<BR/><BR/>So why don't they just drop the price? Realtors can maintain their higher commission while pointing to the strength of the local housing market.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3471471289744825428.post-56328055988573597802008-03-03T10:28:00.000-08:002008-03-03T10:28:00.000-08:00Hi Jeff,Thanks for checking in. I have been very ...Hi Jeff,<BR/><BR/>Thanks for checking in. I have been very much a pessimist, but I am not so sure now. I actually think that the late houing boom in Portland has helped it avoid too big a bubble. Still the next few months will be very revealing - so time will tell.Patrick Emersonhttps://www.blogger.com/profile/17242234148546323374noreply@blogger.com