Paul Kerley maintains a significant presence in Salem, Oregon's
real estate market as the owner of Commercial Property Resources, Inc.
Paul Kerley has experience in owning and managing commercial and
residential properties, and his holdings range from condominiums to
single-family homes in a somewhat improving economy for Oregon.
Oregon's
improvements in the labor market have exceeded those of the United
States as a whole, but still lag behind the performance of average
states before the Great Recession. The unemployment rate for 2014 has
actually grown; however, mitigating this concern is strong growth in the
number of workers entering the job market. This dynamic of job seekers
pushing up the unemployment rate is not unexpected; by this measure
Oregon is expected to reach national pre-recessionary standards in 2015.
The
state's housing data also looks promising. Oregon's population is
growing, which increases the number of new households formed. Many of
these new householders had been living with parents, with fewer young
adults living at home in 2014.
These young people are mostly
renters rather than owners. Oregon's rental numbers have jumped, largely
as a result of student loan debts and fewer assets. As a result, demand
for housing has gone up. This expansion is predicted to occur in
multi-family housing as millennials graduate from college.
Home
buying is most prevalent in the 25 to 35 cohort. Even though the
weakened economy has driven up the traditional buying age, the overall
trend of housing purchasing should continue in the years ahead.
