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I am a strong believer that buying or renting is a lifestyle choice with one not being a “better” lifestyle than the other.  If you live in the Portland Metro Area though, the reasons to buy are mounting.  For those considering purchasing rental property, it is an exciting time.   Below are some numbers and facts that might be helpful.
Portland rents increased 6% in 2013, 7% in 2014 and 9% in 2015!
 75% of all lease renewals in 2014 and 2015 had an increase in rent.
There are on average 8 applicants received per vacancy.
Downtime for vacancy is 25 days; historical average is 33 days.

Portland is #1 in the country for effective rental growth(Q3Q4 2015)
 Mortgage rates are still historically low, despite recent upticks
Rental market is strong.

Recently I heard  someone describe purchasing a home as “opening a self-imposed savings account.”  These are wise words in a market with appreciation consistently over 6% and in some areas double digit appreciation stats.

For more expert advice on  purchasing a home in the Portland Metro Area, contact YogaBug Real Estate at pam@yogabugrealestate.com. It would be a pleasure to serve you. Thanks for your referrals and trust.

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