An error occurred while fetching the data.
Error details: Error: INTERNAL_ERROR for 22007a7a-caa6-31d6-e1b9-1d8d046248e9: {"response":{"errors":[{"message":"INTERNAL_ERROR for 22007a7a-caa6-31d6-e1b9-1d8d046248e9","locations":[{"line":93,"column":7}],"path":["articlePackages"],"extensions":{"classification":"INTERNAL_ERROR"}}],"data":{"articleData":{"uri":"/2018/08/29/cranes-mark-more-net-migration/","canonicalUrl":"https://www.globest.com/2018/08/29/cranes-mark-more-net-migration/","generatedId":"gef45lmkd","naturalId":"blogAndPostId/blog/post/312-8970","recombeeId":"312-8970","type":"ARTICLE","postFormat":null,"kickerPresentedBy":{"label":"","value":""},"breadcrumb":[],"presentedBy":"","title":"Cranes Mark More Net Migration","readtime":"5","timeToRead":"5 minute","prettyModified":"","prettyDateTime":"August 29, 2018 at 04:00 AM","needToKnow":[],"byline":"Lisa Brown","nofollow":false,"showDisclaimer":true,"authors":[{"name":"Lisa Brown","description":"Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.","imageLarge":"http://images.globest.com/contrib/content/uploads/sites/312/2016/08/Lisa-Brown_avatar_1471886359-136x136.jpg","webUrl":"/author/profile/lisa-brown/"}],"publication":"Globe Street","kicker":"News","kickerNode":[{"name":"News","slug":"news-kicker","uri":"/news/","sectionName":"News"}],"prettyDate":"August 29, 2018","pubDate":"2018-08-29 04:00:50:000","modifiedDate":"","isDownload":"false","primaryCategory":{"channelName":"","sectionName":"","name":"","uri":"","slug":"","channelUri":""},"tags":[],"image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/312/2018/08/por-skyline-of-portland.jpg","width":"616","height":"372","alt":""},"embed1":"","embed2":"","summary":"It is no wonder that Portland is attracting better-educated talent and is unique in its ability to bring in young, skilled households, ranking above higher-paying metros with a major research university.","categories":[],"allCategories":[{"sectionName":"Portland, OR","channelName":"GlobeSt Market"},{"sectionName":"Office","channelName":"Globest Sectors"},{"sectionName":"Industrial","channelName":"Globest Sectors"},{"sectionName":"Multifamily","channelName":"Globest Sectors"},{"sectionName":"Development","channelName":"Globest Topics"},{"sectionName":"Economy","channelName":"Globest Topics"},{"sectionName":"Technology","channelName":"Globest Topics"},{"sectionName":"West","channelName":"Region"},{"sectionName":"News","channelName":"Kicker"}],"bodyArray":["<p><figure id=\"attachment_8971\" align=\"alignright\" width=\"616\" xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\"><a href=\"https://images.globest.com/contrib/content/uploads/sites/312/2018/08/por-skyline-of-portland.jpg\"> <img class=\"size-full wp-image-8971\" src=\"https://images.globest.com/contrib/content/uploads/sites/312/2018/08/por-skyline-of-portland.jpg\" alt=\"Portland workers\" width=\"616\" height=\"372\"/></a> The Portland region is unique in its ability to bring in young, skilled households.</figure> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">PORTLAND, OR—Portland is a fast-growing metro with a stable economy and high quality of life although like many West Coast cities, it has housing supply and affordability issues, according to Oregon Office of Economic Analysis. Its growth industries are apparel and design, food and beverage, and semiconductors. More broadly, strengths include renewable energy, wood products and UAVs.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">Not to be outdone, e-commerce and health are factors, as <a href=\"https://news.nike.com/news/nike-inc-reveals-design-for-world-headquarters-expansion\"> Hillsboro-based Nike</a> dominates the landscape. In addition, Oregon Health and Science is expanding its South Waterfront Campus, and Amazon has announced facilities in Troutdale, Salem and Hillsboro, with a combined 3,500 workers employed in those facilities. It is no wonder then, that Portland is attracting <a href=\"https://www.globest.com/2018/08/22/self-storage-in-line-with-demographic-forces/\"> better-educated talent</a>.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">The region is unique in its ability to bring in young, skilled households, ranking above higher-paying metros with a major research university. It is outperforming older peers, but has not yet caught the nation's upper-economic tier.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">Stats from the Bureau of Economic Analysis, Bureau of Labor Statistics, the Census Bureau and the Oregon Office of Economic Analysis show high-wage jobs have led the Portland economic expansion both in growth rates and in the absolute number of jobs added. When looking at Portland's ranking among the nation's 100 largest metros, there were 222,500 high-wage jobs in 2007, where Portland ranked 32nd in highest share. In 2016, that number shot to 301,100, giving Portland the 15<sup>th</sup> highest position, a 35% change or the fifth-fastest growth area.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">In educational attainment or share of those aged 25 to 64 with a college degree, Portland had 34.1% in 2007, or the 27th highest. By 2016, that number had increased to 40.2% or 16th highest. This was a change of 6.1% or the fifth largest. This percentage increase in educational attainment is more than twice the gains in the typical metro. Portland now ranks the 16th highest for the share of 25 to 64 year olds with a college degree. Denver ranks 10th highest at 43.3% and Seattle ranks eleventh highest at 43.2%, slightly eclipsing Portland's 40.1%.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">The previous Office of Economic Analysis work shows Portland's ability to attract young college graduates. Historically, Portland has had more arts and humanities degrees but in recent years, migration has shifted toward technical, scientific and medical degrees, which is reflective of the influx of Amazon, Nike, and Oregon Health and Science facilities springing up.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">In terms of median household income, Portland income was $63,200 or 32nd highest. In 2016, that number increased to $68,700 or 19th highest, an 8.7% increase in the ensuing 11 years or fourth-largest change (inflation-adjusted 2016).</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">Portland incomes are nearly 9% higher today than before the Great Recession while the typical large metro has yet to recover. Portland has jumped from 32nd highest to 19th highest among the 100 largest metros. The city has pulled away from many of its former peers and has caught and/or surpassed large metros such as Atlanta, Chicago, and Los Angeles.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">These gains in recent years are largely about an improving, stronger economy, pulling more households out of the bottom tier. More people are working, especially full time. In fact, the growth in 2016 was driven the most by a big shift into full-time employment. Earnings for workers are up as well. Portland has significantly more higher-income households today than the last decade.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">With that being said, there is no evidence of lower-income households moving away from the region, even if pushed toward the fringes. This diverse industrial structure and strong pipeline of talent suggests good growth moving forward, which is not expected to change but would be a huge problem if it does, cautions the economic analysis office.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">Nonetheless, Portland is undergoing transformational changes. Portland is not the only metro to undergo such changes in the past decade, but Portland's changes are among the largest.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">This has resulted in some searching for the “next Portland”. However, each metro contender fails to measure up in at least one important way. None have both strong population growth and strong net migration among college-age and root-setting populations, a huge advantage, says the report.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">While the economic and population growth rates are slowing today as the business cycle matures, the</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">region retains high quality of life and strong regional economy. If maintained, there will be a long-term advantage of net migration among young, skilled households, or some 35% within the first-time buyer pool, according to the Scotsman Guide. One glaring factor is affordability and adequate housing supply, the biggest threats.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">“Multifamily is in the final innings and Millennials are being priced out of housing,” Roger Milstein of RWM Consulting LLC tells GlobeSt.com. “There is nothing under $350,000, as most single-family homes are in the $450,000 to $600,000 range.”</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">Recessions can reorient or restructure a regional economy, altering growth paths. Some industries fall back while others step forward. Portland's foundation, based on the income and education stats, seems on solid footing and can likely overcome the housing shortfall.</p>"],"slides":[],"video":null},"articlePackages":null,"youmightlike":[{"uri":"/2025/01/17/portlands-multifamily-investment-landscape-transforms-in-q4-/","title":"Portland's Multifamily Investment Landscape Transforms in Q4","byline":"Anthony Russo","prettyDate":"January 17, 2025","readtime":"2","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/4e/6b/52872d794ac3aff091dda1ee6182/portland-oregon-article-202501171331.jpg","width":"620","height":"372"},"summary":"MG Properties led the way with the biggest purchase. "},{"uri":"/2025/01/09/portland-office-market-sees-record-low-leasing/","title":"Portland Office Market Sees Record Low Leasing","byline":"Anthony Russo","prettyDate":"January 09, 2025","readtime":"2","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/cb/ee/8c4d530f47759e878b298e230df0/portland-skyline-article-202501091136.jpg","width":"620","height":"372"},"summary":"Also, vacancies were at a record high. "},{"uri":"/2024/04/23/upzoning-affordable-housing-correlation-does-not-equal-causation/","title":"'Upzoning' & Affordable Housing: Correlation Does Not Equal Causation","byline":"Erik Sherman","prettyDate":"April 23, 2024","readtime":"3","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2019/11/NAA-616x372.jpg","width":"616","height":"372"},"summary":"The solution to affordable housing is more nuanced than simply reforming zoning regulations."},{"uri":"/2023/10/12/nuclear-powered-data-centers-coming-to-ohio-pennsylvania/","title":"Nuclear-Powered Data Centers Coming to Ohio, Pennsylvania","byline":"Jack Rogers","prettyDate":"October 12, 2023","readtime":"3","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2019/11/datacenter.gif","width":"616","height":"372"},"summary":"Standard Power to deploy 24 small modular reactors at data campuses."},{"uri":"/2023/09/26/multifamily-office-planned-for-1-2m-sf-portland-mall-redo/","title":"Multifamily, Office Planned for 1.2M SF Portland Mall Redo","byline":"Jack Rogers","prettyDate":"September 26, 2023","readtime":"2","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2023/09/Portland-Oregon-Article-202309260822.jpg","width":"620","height":"372"},"summary":"URG, KREF will add as many as 5,000 units to Lloyd Center."},{"uri":"/2023/03/27/rockbridge-and-aparium-hotel-group-acquire-the-heathman-hotel-in-portland-or/","title":"Rockbridge and Aparium Hotel Group Acquire the Heathman Hotel in Portland, OR","byline":"David Hoffman","prettyDate":"March 27, 2023","readtime":"1","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2023/03/Portland-Oregon-Article-202303271734.jpg","width":"620","height":"372"},"summary":"The 151-key hotel will undergo renovations of its guestrooms, public spaces and flagship restaurant"}],"readnext":{"contents":[{"uri":"/2025/07/10/florida-ends-tax-on-commercial-rent-bringing-relief-to-tenants/","title":"Florida Ends Tax on Commercial Rent, Bringing Relief to Tenants","byline":"Anthony Russo","summary":"The removal of the tax will increase the state's competitive advantage and lure more folks to Florida. ","prettyDate":"July 10, 2025","kicker":"Features","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/2f/09/e07355b545bea551e6091b646509/kingsley-jonathan-620x372-1.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Region","sectionName":"Southeast","slug":"southeast-region-globest-markets","channelUri":"region"},{"channelName":"Globest Sectors","sectionName":"Office","slug":"office","channelUri":"sectors"},{"channelName":"Globest Sectors","sectionName":"Retail","slug":"retail","channelUri":"sectors"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Kicker","sectionName":"Features","slug":"features-kicker","channelUri":""}]},{"uri":"/2025/07/10/multifamily-delinquencies-climb-amid-worsening-cre-loan-performance/","title":"Multifamily Delinquencies Climb Amid Worsening CRE Loan Performance","byline":"Erik Sherman","summary":"Growth slows, delinquencies rise, and multifamily losses hit a peak.","prettyDate":"July 10, 2025","kicker":"Analysis","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2023/04/Delinquent-Loan-Article-202304060805.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]},{"uri":"/2025/07/11/top-10-cre-funds-stockpile-billions-as-market-wonders-whats-next/","title":"Top 10 CRE Funds Stockpile Billions as Market Wonders What’s Next","byline":"Erik Sherman","summary":"The funds remain unused as they await the right opportunity.","prettyDate":"July 11, 2025","kicker":"Features","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/ec/07/e42f1dd84c54b5f0c4804ce6fdad/dry-powder.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Features","slug":"features-kicker","channelUri":""}]},{"uri":"/2025/07/11/multifamilys-rising-loan-maturities-create-new-buying-opportunities/","title":"Multifamily's Rising Loan Maturities Create New Buying Opportunities","byline":"Erik Sherman","summary":"Distressed sales loom amid high debt and low coverage ratios.","prettyDate":"July 11, 2025","kicker":"Analysis","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/3d/26/2b933d304f09aae46772f0115fa0/buying-opportunity.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]},{"uri":"/2025/07/10/disagreement-grows-among-fed-officials-on-rate-cut-timing/","title":"Disagreement Grows Among Fed Officials on Rate Cut Timing","byline":"Erika Morphy","summary":"The tariff debate is disrupting the Fed’s policy playbook.","prettyDate":"July 10, 2025","kicker":"Analysis","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/b1/0e/89779ab049e2a63ea4ff1d0fb5e9/fed-resize-jpeg.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Globest Topics","sectionName":"Economy","slug":"economy","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]}]},"events":{"events":[{"eventTitle":"GlobeSt. ELITE Women of Influence (WOI) 2025","venueName":"","cleCredit":"no","description":"GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.","registrationURL":"","docUri":"/data-sources/events/GlobeSt.ELITEWomenofInfluence(WOI)2025:2024-09-03-04:00:33.xml","eventEndDate":"July 22, 2025","eventStartDate":"July 21, 2025","industry":["Real Estate"],"audience":["Conferences","Real Estate"],"city":"Denver","learnMoreLinkFile":"https://www.event.globest.com/WomenOfInfluence","imageUri":"https://assets.swoogo.com/uploads/full/4358074-66d72c273ea79.png","imageUri2":"https://assets.swoogo.com/uploads/full/4358079-66d72c46e3ce4.png","practiceArea":["Diversity","Leadership & Management","Women of Influence"]},{"eventTitle":"GlobeSt. Multifamily Fall 2025","venueName":"","cleCredit":"no","description":"Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!","registrationURL":"","docUri":"/data-sources/events/GlobeSt.MultifamilyFall2025:2025-04-10-04:00:43.xml","eventEndDate":"October 15, 2025","eventStartDate":"October 15, 2025","industry":["Real Estate"],"audience":["Conferences","Real Estate"],"city":"Los Angeles","learnMoreLinkFile":"https://www.event.globest.com/multifamily-fall","imageUri":"","imageUri2":"","practiceArea":["Multifamily"]}],"searchParams":{"estimate":2}}},"extensions":{"DateTime":"2025-07-13T02:18:40.040180198","ResponseTime":"?","AuthorizedUser":false,"AlmContext":"AlmContext{clientIP='10.0.253.254', internalIP='true', origin='', authorizedUser='false', Chinchilla, userAccount='null', UCID=null, ipAccount='null', olyEncId='null'}","NavServiceResponse":{"message":"No Content","action":"show-404","data":"","placResultsPublic":null},"DebuggingData":null,"UsedCache":"true","DataUrl":"http://ml2.alm.com:9216/bff-services/content/get-you-may-like-for-content.xqy?naturalId=/2018/08/29/cranes-mark-more-net-migration/&site=www.globest.com&total="},"status":200,"headers":{}},"request":{"query":"\n####\n####\n# QUERY\n# ROUTE:/2018/08/29/cranes-mark-more-net-migration/\n####\n\n\nquery Globest__view_article_no_sitedir{articleData:\n getContent(naturalId: \"/2018/08/29/cranes-mark-more-net-migration/\", site:\"globest.com\") {\n uri\n canonicalUrl\n generatedId\n naturalId\n recombeeId\n type\n postFormat\n kickerPresentedBy {\n \t\t label\n \t\t value\n \t\t}\n breadcrumb{\n name\n \t\turi\n }\n presentedBy\n title\n readtime\n timeToRead\n prettyModified\n prettyDateTime\n needToKnow\n byline\n nofollow\n showDisclaimer\n authors {\n name\n description\n imageLarge\n webUrl\n }\n publication\n kicker\n kickerNode {\n name\n slug\n uri\n sectionName\n }\n prettyDate\n prettyDateTime\n pubDate\n modifiedDate\n isDownload\n primaryCategory {\n channelName\n sectionName\n name\n uri\n slug\n channelUri\n }\n tags\n image {\n uri\n width\n height\n alt\n }\n embed1\n embed2\n summary\n categories {\n name\n uri\n channelName\n }\n allCategories {\n sectionName\n channelName\n } \n bodyArray\n slides {\n title\n image\n caption\n height\n width\n }\n video\n\n }\n articlePackages:\n getPackagesForArticle(docId: \"/2018/08/29/cranes-mark-more-net-migration/\", limit: 3, publication:\"globest.com\") {\n title \n slug\n type \n summary\n cssFile\n navigations {\n name\n link\n }\n articles {\n title\n kicker\n uri\n image {\n uri\n }\n }\n\n \n }\n youmightlike:\n getYouMayLikeForContent(naturalId: \"/2018/08/29/cranes-mark-more-net-migration/\", site:\"globest.com\") {\n uri\n title\n byline\n prettyDate\n readtime\n image {\n uri\n width\n height\n }\n summary\n }\n readnext:\n getStatsList(site:\"globest.com\", topic: \"\", limit: 5, timeframe: \"3days\" ) {\n contents {\n uri\n title\n byline\n summary\n prettyDate\n kicker\n image {\n uri\n width\n height\n }\n breadcrumb{\n name\n \t\turi\n }\n primaryCategory {\n name\n uri\n channelName\n channelUri\n }\n allCategories{\n channelName\n sectionName\n slug\n channelUri\n }\n breadcrumb {\n name\n uri\n }\n }\n\n }\n events:\n getFutureEvents(\n publication: \"GlobeSt\"\n pageSize: 10\n page: 1\n ) {\n events {\n eventTitle\n venueName\n cleCredit\n description\n registrationURL\n docUri\n eventEndDate\n eventStartDate\n industry\n audience\n city\n learnMoreLinkFile\n imageUri\n imageUri2\n practiceArea\n }\n searchParams {\n estimate\n }\n }\n }"}}