I’ve been hearing a lot of stories lately of people leaving town because they can no longer make a living in Bend. Amazingly, after years of overwhelming growth at High Lakes Elementary, my son’s second grade class has actually gotten smaller this year.
This is just one example, however, it’s obvious that builders, realtors, lenders, appraisers and title company officers are all feeling the pinch from a 50% decline in business over the past couple of years.
If things don’t get better soon, this trend may become an Exodus of JAH People (Just Arrived Here – to take advantage of the real estate gold rush) out of Bend. And if this happens, it raises the very real possibility of the current real estate recession becoming a real estate depression.[youtube http://www.youtube.com/watch?v=9s06Q2rh9t8&rel=1]LIV