Rotary Club of Ashland Speaker Discusses Oregon Economy

At this Thursday's Rotary Club of Ashland Meeting, guest speakerDr. Tom Potiowsky, the Oregon State Economist, spoke about the effects the national economy will have on the Oregon economy. Dr. Potiowsky emphasized the affect the housing market has had on the wood products and construction industry, and although Oregon's economy will be affected by what is happening nationally, any possible recession will likely be much milder here, and it would be more like what Oregon experienced in 1990-1991 versus the double dip of 2001 if a recession does indeed develop.

As with the varying opinions of the economists on whether or not the U.S. economy is in a recession, Oregon industries have varying opinions. If you ask the wood products industry that is directly affected by the housing market, we are in a depression, but if you ask other Oregon industry segments, our economy is doing okay.

Oregon overall has been seeing price appreciation and a relatively small factor of .533% in foreclosures. Here in Southern Oregon, some areas that saw rapid, steep property value increases are experiencing more of a value correction than most of the State of Oregon, while other areas are experiencing the same slight price appreciation as other areas of the State. Some cities in the Jackson County area are experiencing a correction like that being experienced by some cities in the Deschutes County area in Central Oregon, although not quite as severe.

Dr. Potiowsky said yes...Oregon will experience the affects the U.S. economy is experiencing, but it will be milder, with any possible recession being.

See you out there!

Karen Cooper - OR/CA Mortgage Consultant - http://www.quality4loans.com/