CRE Slowdown?
Has the Commercial Real Estate slowdown hit Oregon?
From the Portland Business Journal:
Oregon’s retail and restaurant industry offers an odd combination: lots of closures but solid employment figures.According to the Oregon Employment Department, 199,300 Oregonians worked in retail in April, about 3,500 more than a year ago. The sector is growing at a rate of about 1 percent, down from nearly 2 percent a year ago.“There is a definite slowing,” said Amy Vandervliet, the state’s Portland labor economist.Vandervliet said employment figures can mislead. The state doesn’t differentiate between full- and part-time work. Employers may trim worker hours but hold off on cutting jobs.“We’re still growing at the inexpensive stuff,” said William B. Conerly, a Lake Oswego consulting economist who said consumer spending has leveled off, but not fallen.Retail construction projects are also proceeding. One example is in Battle Ground, Wash., about 25 five miles northeast of Portland.The $60 million retail-anchored mixed […]
Original post by noreply@blogger.com (Clint8200)
