When describing the Bend economy over the past decade, it is best to envision a roller coaster ride with wild peaks and valleys.
The housing boom from 2004-2007 brought with it jobs, increased home prices and rapid population growth. But the bubble burst in late 2007. This decimated the local economy, creating a plummet in the housing market and massive job loss, along with other challenges.
Seemingly out of nowhere, Central Oregon turned a corner and the roller coaster started taking us back up.
Although our recovery was delayed, we are in a new period of economic expansion. The past three years have produced some of the fastest job growth, home appreciation and population growth ever seen in the Bend metropolitan area.
But the question on many minds is: Is our region is in another boom that could ultimately lead to a dramatic bust?
During the Bend Chamber’s Real Estate Forecast Breakfast, you’ll come with questions and leave with answers.
Moderator Damon Runberg, state economist, will first take the audience back in time to 2005 – 2007 when Bend’s economy was “booming” to learn from the past. Then panelists Dan Hobin, CEO and co-founder of G5; Jay Lyons, principal broker at Compass Commercial Real Estate Services; Todd Taylor, CEO of Taylor Northwest; Steve Klingman, president of Hayden Homes; Jon Skidmore, assistant city manager, City of Bend; and Wendy Adkisson, managing principal broker of Keller Williams Realty, will discuss the real estate market in Central Oregon today.
Our panel of experts will dive into topics including growth trends, property prices, construction and the urban growth boundary, as well as how these issues impact them individually and us as a community. To conclude, the panel will compare the past to the present to determine if the recent growth in housing prices is based on sound economic ground, or speculative growth.
“At the Real Estate Forecast Breakfast, my goal is to really look at what impacts us: employers, employees, residents, home buyers and homeowners,” said Bend Chamber Vice President of Programs and Events Robin Rogers. “It’s about getting stakeholders in the room who can give us knowledge we wouldn’t otherwise have access to and sharing that information with the community at large. The audience will get their questions answered and their concerns addressed.”