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.
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.
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 …