So income has gone up double, but housing prices have increased by 5 times? Not to worry, rich people will buy all the houses.
I'm still amazed and astounded by the reactions I get in my store from visitors. The comment, "It's happening were I come from, too." The comment, "We're thinking about moving here."
And then, when I question their knowledge of the local conditions, the realization that they don't have a friggen clue!
Perhaps when it comes to the crunch, they come to their senses. But I have a sinking feeling that they are moving here willy nilly, thinking they are going to get a comparable job to the one they left, and sitting pretty on a nest egg of equity.
So the question becomes. How long does it take for them to lose their nest egg?
Bend just keeps sucking up all that cash. And the longer the newcomers are oblivious, the longer high-end retail keeps opening. (Not one, but two bookstores opening in Redmond?)
I think we are only on the very beginnings of the downturn, certainly not the end. I think it's going to be another year before it becomes common knowledge. How that can be when it's on every news program and in every news publication I can't explain. Like I said, talk to the tourists....
1 week ago