Portland not only has its own TV show starring its own mayor these days, it also scored a lucky #13 on the list of Top 50 Blogs on the Housing Crisis! That is of course per the fine publication known as the Construction Management Blog, which is somehow (based on the URL and this) endorsed by folks who'd like to see you go into student loan debt and go get yourself a degree in construction management!
Somehow that's all kind of eerie, and yet it fits so well for Portland in just one paragraph. Portland's housing market woes are not finished...We're Not Home Yet from TIME.com is an interesting read as the banks try to avoid reality:
"Don't get too comfortable if you live in an area that hasn't suffered big price cuts, because the problem could spread in the coming months. The latest numbers indicate that the lower end of the housing market is seeing the sharpest declines. But those declines could well drag down the value of higher-priced properties."
"Meanwhile, to help banks cope with the risk involved, a market would be created to let them trade home-price futures, rather than splicing and dicing baskets of high-risk mortgages and then passing the risk on to investors. (A small market of this kind already exists at the Chicago Mercantile Exchange.)"
" "We need to be creative. It's all about democratizing finance and bringing more of the benefits of it to individual consumers," says Shiller. These and other housing-market reform ideas were deemed too radical when the crisis began. As it is now, they might not be radical enough."