Economist quashes housing bubble concerns


Matthew Gardner believes wages will increase while property values slow.

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BY JACOB PALMER | DIGITAL NEWS EDITOR

Economist Matthew Gardner believes wages will increase while property values slow, avoiding another housing bubble.

The issue is of particular significance in the booming metropolis of Bend.

The ghosts of the Great Recession — when ballooning home prices collapsed and fell to lows beneath loan values, putting many homeowners in foreclosure — still haunt the Central Oregon housing market.

That was then, Gardner said, the chief economist for Seattle-based Windermere since June. Conditions today weigh against a housing bubble, he said. Lenders typically look for better credit scores and larger down payments.

“Folks getting a home today are responsibly taking on debt,” Gardner said.

(SOURCE: Bend Bulletin)

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