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George Noorey
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George Noorey
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The troubled housing market is ground zero for our struggling economy. An Oregon company that tracks foreclosures in the state, says we may have hit bottom. Since 2007, more than five million Americans have lost their homes to foreclosures or short sales. Some economists estimate another five million may lose their homes before the crisis is over. John Helmick with Gorilla Capital, that tracks foreclosures in Oregon says its important many of these foreclosures go through. “So while government is trying to help people avoid foreclosure, their actions are only extending the foreclosure crisis by keeping home prices down, more people are entering foreclosure.” Helmick believes we are at the bottom when it comes to foreclosures in Oregon. He says for the last fifty years, when median home prices are around three times the median household income, that's when the housing market stabilizes.

 

 

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Traffic & Weather

 

 

 

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

 

Orion Drive closed in two locations for sewer work; at the intersection with Avery Lane and between Desert Woods Drive and King Hezekiah Way.  From July 11 to Sept. 6. Detours marked.

 

Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July 11 – November.

 
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