We were sad to hear that unemployment has risen to over 12 percent in the month of March.  This is the highest it’s been since the recession in the 1980’s and puts it in contention for the highest rate in the country.

According to State Senator Peter Courtney, “Unemployment in Oregon has more than doubled since last summer and while that creates enormous budget challenges for the state, we can’t lose site of the fact that 12.1 percent unemployment represents 256,000 real people,”

Amen.  And what worries us is what that newly unemployed group is likely to mean for the foreclosure rate in Oregon.  Should that creep up in tandem, it’s likely to put the wrong type of pressure on real estate prices.

For more information on Oregon foreclosures, please click here.