When I moved here in 1995, Oregon was a poor state. Now median income for Oregon families is above the national average:
Full report here. It also addresses the implications for state revenue, which are boffo.
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When I moved here in 1995, Oregon was a poor state. Now median income for Oregon families is above the national average:
Full report here. It also addresses the implications for state revenue, which are boffo.
Comments are closed.
It’s probably for the better, on the whole, but not an unalloyed gain if well-to-do people are moving in and making things like rent too expensive for the locals.
Another thing, whenever there is a recession, Oregon sinks well below the national average. I have a feeling a lot of people in jobs at Oregon’s super-high minimum wage are going to be out of work when the next downturn comes.
tell these to Oregonians that live outside Washington and Clackamas counties
Well, I think what I said may well apply in the less urban, less prosperous counties. There has been stuff in the press lately about what Californians with their money are doing to Idaho — driving up the price of housing so much that the locals can’t live there anymore. I would think it would be similar in Oregon. How about the Eugene area, are the not-well-to-do doing better with the recent “prosperity”? I think it depends. Certainly, the newly homeless don’t seem to be doing too well to me.
As for the minimum wage — legislators outside the Portland metro were very concerned about the high Oregon mimimum wage proposals — and got a tiered min wage structure enacted.
Maybe a speculative housing tax is a workable solution? I know they have similar taxes in Australia. I have no idea if they are legal in the US though.
Seems likely to decrease the housing supply and increase homelessness, so if you’ve got a link to some empirical research please post it.
Sorry I can’t find a research link. Here is an article about a foreign buyers tax in Canada: https://bc.ctvnews.ca/b-c-introduces-15-per-cent-property-transfer-tax-for-foreign-buyers-1.3001410
I believe they enacted the tax because foreign demand may contribute to a bubble. They want the local population to continue to be able to afford real-estate. The tax is directed towards wealthier Mainland Chinese and Hong Kong people who see the west as a safe haven.
https://www.qualityinfo.org/-/a-closer-look-at-oregon-s-median-household-income
shows the data, quite clearly
as well as a pretty in depth discussion;
yes I realize the in depth discussions are not allowed by the Schillips mandates …