The Affluence Of Lake Oswego Overshadowed By The Specter Of Foreclosure

By Author: andrewethan5
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Lake Oswego homes for sale are estimated to be some of the most expensive in Oregon State. Nevertheless, despite the affluence of its inhabitants, where the median household income of Lake Oswego has been estimated as being in the region of $71,597 or more, house foreclosures in Oregon generally have continued to increase. These have risen by 14% since December 2009, an increase of 7% since the end of 2008 according to data from Realty Trac's Foreclosure Market Report. According to evidence provided by this Report, this involved 4,812 properties being filed for sale as a result of foreclosure.
A spokesperson from The Realty Trust, Kathleen MacNaughton, when asked for her opinion on the state of property purchase, stated:
People want to buy. They're just scared to right now.
The value of real estate seems to be showing evidence of rising again following the recent slump in house prices. Lake Oswego real estate is higher priced than most other locations in Oregon State. Lake Oswego itself is a private lake, with properties whose boundaries front the lake being sold for in excess of $1 million.
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... Oregon State
Oregon's unemployment figures have continued to climb beyond the national US average whilst the value of Lake Oswego real estate in the state fell more than that experienced across the rest of the country. This state of affairs has resulted in default notices being issued in increasing numbers, with figures for December 2009 showing an increase of 125%, resulting in more Lake Oswego homes for sale as a result of subsequent foreclosures. Surprisingly, Clackamas County had 488 households whose properties were subject to foreclosure, some of which was bound to include Lake Oswego real estate.
Clackamas County
The average income of households in Clackamas County, according to data provided by the US Census, is in excess of $86,478, with an 89.1% affluent white population amongst its population of 35,278. Just 5% of this figure is revealed as being Latino and only 2.4% Asian. Portland is in the north of Oregon, with Clackamas County lying to the southern end of Portland. Lake Oswego, within the boundaries of Portland, lies close against the Willamette River, 10.9 square miles of mostly affluent homes and first class schools, attended by the children who make up a proportion of the 35,000 Lake Oswego residents.

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