Title

From 1983 to 2002, the real estate market in Greater Portland has risen at 8.4 p

Authors

Evan Richert

Source

Portland Monthly

Date

10-2003

Pages

51-54

Abstract

From 1983 to 2002, the real estate market in Greater Portland has risen at 8.4 percent per year, faster than anywhere else in the U.S. The statistics lead some to worry that the real estate market could again burst as it did when the economic collapse of 1990-91 hit. Although there is a similarity to that time period, the differences suggest that real estate isn't leading the economy by the nose this time. Construction hasn't been irrational, and banks are less vulnerable than they were. The increase in home prices can't sustain itself forever though, and eventually some homeowners may find themselves over-leveraged.

Subjects

Real estate business

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