flooded basement DSC02443

Sets

recession real estate in lake oswego, oregon [133 photos] i like to jog around the lake, and have noticed more and more “for sale” signs popping up along this route as the housing situation worsens (presumably due to the collapse of the sub-prime lending market - but i would not have expected people buying million-dollar-plus lakefront homes to be financing them via interest-only or ARM loans). listing of homes for sale in lake oswego, courtesy of zillow.com - presently finds 813 homes for sale in lake oswego (out of ~17,000 homes in lake oswego) , about 5%.

2008-08-02: 462 homes for sale in Lake Oswego

2008-08-14: 504 homes for sale in Lake Oswego

2008-10-11: 457 homes for sale in Lake Oswego

2008-11-30: 438 homes for sale in Lake Oswego, OR

2009-01-04: 469 homes for sale in Lake Oswego, OR

2009-01-25: 653 homes for sale in Lake Oswego, Oregon (maybe zillow added a new mls feed or something? is that jump possible?)

2009-01-31: 673 homes for sale in lake oswego, oregon

2009-03-06: 799 homes for sale in lake oswego

2009-04-04: 808 homes for sale in lake oswego

2009-06-03: 851 homes for sale in lake oswego.

2009-06-24: 863 houses on the market

2009-07-09: 1,474 houses on the market (i'm thinking zillow must've added a data source to jump this much)

2009-10-09: 813 houses on the market

2010-01-27 591 houses on the market, 111 in foreclosure

2010-07-06 691 homes for sale, 91 in foreclosure

2010-08-24 671 homes for sale, 51 in foreclosure

long and interesting article about life after the bubble in portland.

The financial industry, whose greed and irresponsibility helped steer the economy into the trash bin, the same industry that then needed an unprecedented rescue package courtesy of the American taxpayer, is now suddenly the picture of prudence when it comes to modifying a hard-pressed homeowner's mortgage.