Don't blame those flocking here for higher home prices
Economist Josh Lehner shared some interesting housing and income data this week.
Lehner said, "There is a very simple reason why the overall household trends aren't due to rich migrants moving to Oregon and plundering our quality of life. Or something like that. The reason is that the majority of newly arrived households actually have lower incomes than the households already living in Oregon. As such, it can't mathematically work out that migration trends are driving the growth in high-income households."
Lehner said those moving here tend to be recent college graduates with their first career related job.
He said they do add to the demand for housing, just not the kind that comes with a high-wage job.
These root-setters are key to a growing economy, since they tend to stay in the workforce through their prime working years.
To read more of Lehner's blog, click here.