Economy
172 articles · Page 11 of 18
Maps members on track to give back more than $130,000 to the community in 2022
Maps Credit Union's Free Community Checking program in Marion and Polk counties enables members to contribute to local causes simply by using their debit cards. Last year, this initiative generated over $130,000 for education, scholarships, and nonprofits. Since 2012, nearly a million dollars have been donated, significantly enhancing community support and engagement.
Five Tips to Help Oregon Shops and Restaurants Succeed on Nov. 26
Small Business Saturday, on November 26, 2022, is gaining popularity as Black Friday's appeal declines due to early holiday sales. Spending at independent retailers reached $23.3 billion last year, a significant increase. Small businesses face challenges but can thrive through social media promotion, special offers, and community partnerships to drive local support.
Where Salem Ranks Among Best Cities for DIYers, and why it matters
A Porch report identifies the best U.S. locations for DIY enthusiasts, highlighting the Salem metro area with 4.88 hardware stores per 10,000 residents. The COVID-19 pandemic spurred increased DIY activity due to more time at home and labor costs. Montana ranks highest in store concentration, while states like California lag behind.
EPA Awards $750,000 Pollution Prevention Grants to Oregon, Idaho and the Knik Tribal Council, Funded by the Bipartisan Infrastructure Law
At a Portland event, EPA’s Jennie Romer announced $751,550 in pollution prevention grants for Oregon, Idaho, and the Knik Tribal Council. These funds support initiatives that reduce pollution, lower costs, and aid underserved communities, complementing a prior $12 million funding from the Bipartisan Infrastructure Law focused on sustainable practices.
Industrial Asset Stats by Salem Zip Code
Salem's industrial real estate market shows diverse trends across zip codes. Central Salem has low vacancies and rising rents. South Salem faces elevated vacancies despite strong rents. North Salem has minimal inventory but high sale prices. West Salem struggles with high vacancies. Southeast Salem shows promise with zero vacancies and ongoing construction.
Inflation's Impact on the Economy and Commercial Real Estate
The market is undergoing significant changes, driven by high inflation and rising interest rates. While Salem, Oregon is expected to remain stable due to its conservative growth patterns, the commercial real estate sector feels the impact of these rate hikes. The residential market has slowed, affecting construction and transactions. Future trends may hinge on the upcoming election year's influence on interest rates.
Multi family housing makes it more affordable? All of Oregon's Cities over 100k make the list for their size in new construction.
New housing construction in the U.S. is declining, affecting first-time homebuyers. Despite a rise in multi-family units, median home prices remain high, peaking at $348,200 in early 2020. Analysis of building permits reveals varied investments across metropolitan areas, highlighting Oregon's performance and lack of correlation between prices and multi-family construction.
New Developments in Salem
Several developments are ongoing in Salem, including Checkpoint 221, a new food cart pavilion with 16 carts and a bar set to open by Christmas, and Travel Salem's relocation to a renovated former bank. Additional projects include medical offices, a Tesla store, and a new apartment complex, enhancing the local landscape.
Residential Real Estate Update
The residential real estate market is still active despite cooling compared to previous years, with low inventory at 2.6 months. This is a favorable time for seniors to sell, leveraging home equity for retirement transitions. Sellers can attract buyers by offering interest rate buy downs, easing affordability issues amid rising rates.
App Invests in Willamette Valley Farming
Farmland offers a finite and essential resource with consistent returns, often outperforming inflation and equities. Platforms like AcreTrader are democratizing farmland investments, previously available only to institutions. They emphasize data-driven due diligence and professional land management to optimize returns, ensuring only top-quality farms are acquired and managed for long-term value.