Taxes and utility costs continue to rise and that is bringing a new trend in home building and renovation. We’ve gone from McMansions in the suburbs to green building close in. People don’t want the cost of having space they really don’t need. The new trend is to smaller, highly efficient homes in walkable areas.
This new ethic is causing changes in remodeling. Home owners are considering adding rental units to offset home ownership costs. This is a big move away from adding square footage or upgrading kitchens and baths.
My wildcard prediction for the future of real estate in Portland? Watch for condos to make a comeback.