My guess is interest rates are going to rise. And both residential and commercial development will slow because of that. |
Oregon has a lot of in-migration, which helps to keep the unemployment rate (higher). |
The big question is when and how much long-term interest rates are going to rise, because that affects development projects at all levels. |
Two-thousand-six is going to look a lot like late 2005. We've passed the recovery period, and we're going into long-term growth. |