Plus: Oregon State Fair is almost here.
 
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Art in the Pearl

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Is it real estate, or just a dream?

How difficult is it to buy a home in Portland?
A blue house with shrubs in the front and a staircase is for sale. The sign displays two Windermere agents' names.
You can find this Windermere listing at 2423 NW Northrup St. | Photo by PDXtoday
Whether you’re planning your next move or just love scrolling Zillow, NBC’s home buyer index — which debuted in May and is updated monthly — might help you keep better tabs on the Portland real estate market as it shifts from month to month.

How it works

The study uses a 0-100 scale to measure the level of difficulty when purchasing a home; the higher the score, the more difficult. It’s measured using four factors: cost, competition, scarcity, and economic instability (think: market volatility, unemployment, and interest rates).

Is it legit? A real estate industry analyst, bank economist from the Federal Reserve Bank of Atlanta, and other experts helped develop the tool, according to NBC News. Examine the methodology.

A few caveats: The index does not capture additional homebuying difficulties for certain groups, such as those with lower credit scores, and it can’t always capture data for more rural communities.

Multnomah County’s rating

The data listed below comes from June 2024, but it’s updated monthly — the next is planned for Aug. 29, FYI. In other words, you can check back whenever you’re curious. Check out Multnomah County’s numbers, on a scale of 0 (easy) to 100 (difficult):
  • Overall difficulty index | 67.7
  • Cost index | 65.8
  • Competition index | 72.4
  • Scarcity index | 49.7
  • Economic instability index | 92.7
The index also shares that a median income buyer here in Multnomah County can afford a $443,000 home — compare that to the median list price for a home, which is $525,000.

Our pro tip? It’s a good idea to factor in some of the local real estate predictions for the year. For instance, places like St. Johns, Cedar Hills, and Milwaukie might offer more “bang for the buck.”
Asked

As of June 2024, what is the overall home buyer difficulty index for the entire nation (100 being most difficult)?

A. 64.9
B. 92.1
C. 83.8
D. 77.2
Give your best guess
 
Events
Monday, Aug. 19
Tuesday, Aug. 20
  • Elle King | Tuesday, Aug. 20 | 8 p.m. | Revolution Hall | $50 | Spend the evening with the “Ex’s & Oh’s” singer who mixes rock, blues, and country for dramatic effect.
Wednesday, Aug. 21
  • Duckworth Summer Wednesdays | Wednesday, Aug. 21 | 5:30-8 p.m. | Kevin J. Duckworth Memorial Dock | Free | Cool off by cannonballing into “the best swimming hole in Portland’s central city” and listening to a setlist by Bike DJ PopCartPDX.
Thursday, Aug. 22
  • Pet Costume Contest | Thursday, Aug. 22 | 4-7 p.m. | Northeast 17th Avenue, between Broadway + Weidler Street, Portland | Free | Dress up your furry friend in their finest outfit so they can strut the green carpet; there will be pup-arazzi and games for humans.
Friday, Aug. 23
  • Oregon State Fair | Friday, Aug. 23-Monday, Sept. 2 | Times vary | 2330 17th St. NE, Salem | Free | Fill up on fried food, laugh/scream on the carnival rides, and groove at the concerts, featuring headliners like Ludacris, Goo Goo Dolls, and Foreigner.
  • Viking Beer Fest | Friday, Aug. 23-Saturday, Aug. 24 | 3-10 p.m. | Nordic Northwest | $29-$50 | Say skål to this cultural festival featuring Scandinavian food and ale, live combat reenactments, ax throwing, Kubb, a costume and beard contest, and more.
Events calendar here
Click here to have your event featured.
 
News Notes
Development
  • It appears Portland’s run without a Live Nation music venue will end, following a hearing that granted the entertainment giant + Ticketmaster permission to build in the Central Eastside. The currently empty site sits just north of the Hawthorne Bridge; plans incorporate 1,280 concert seats, with a max of 3,500 spectators. (KGW + Willamette Week)
Sports
Real Estate
  • Buckman may be one of the most up-and-coming neighborhoods in the country, but it’s not one of Portland’s most affordable. In that zip code, the median home sale price for Q1/Q2 was $668,371, requiring an annual income of $140,445 to afford a conventional 30-year fixed mortgage. (TravelMag + Portland Business Journal)
The Word
  • Yakuzen, or “medicinal ramen,” is the specialty at Afuri Kara Kurenai, a new restaurant opening Thursday, Aug. 22 next to the downtown Voodoo Doughnut. Chefs will tailor the signature spiciness to customers’ preferences. It will be the company’s only location for this concept outside of Tokyo. (Portland Business Journal)
Watch
  • Oh, we like this teaser trailer, Laika. It’s the latest look at the Hillsboro-based production studio’s upcoming project “Wildwood,” which is set in and around Portland and based on The Decemberists frontman Colin Meloy’s book. See it in theaters in 2025.
Listen
  • Is winning 10 games enough for Oregon to make the College Football Playoff? Locked On Ducks host Spencer McLaughlin thinks so. Hear why and get more expert insights on the network’s daily podcasts.
     
    Plan Ahead

    🍷 Vino you’re going to like this

    Our Legacy Harvested’s 5th annual BIPOC Block Party comes to McMinnville
    A hand pours a bottle of rose into a wine glass that says Block Party on it.
    Enjoy pours from CHO Wines, Valcan Cellars, and others. | Photo by Noel Dong
    Our Legacy Harvested (OLH) is bringing back its BIPOC Block Party for the fifth year.

    On Sat., Aug. 31 from 3 to 9 p.m., the block in front of McMinnville’s Mac Market will be shut down to host a family-friendly afternoon of live music and interactive activities featuring 30+ BIPOC artisans, chefs, brewers, vintners, and more.

    Cultural performances include:
    • Lion + dragon dances
    • Zimbabwean traditional music
    • A Polynesian dance troupe
    • Rhythms of salsa, timba, son, merengue + Latin jazz
    This year’s events will also coincide with the 2024 Oregon International Air Show.

    Tickets are $12 and include tastings for those over 21 and a choice of a branded tote bag or sunglasses. Proceeds support OLH’s mission to empower the wine industry’s BIPOC community and its long-term goal of building a permanent campus for its pop-up events, fundraisers, dinners, and educational seminars.
    The Buy

    The Buy 8.19.24 (Affiliate)
    These reusable food storage bags. They’re made from food-grade silicone, making them dishwasher and microwave-safe, leak-free, and an eco-friendly solution to disposable plastic bags.
    More worth The Buy
    Answered

    Do you plan on retiring in Portland?
    A group of older adults hiking with a waterfall behind them.

    The city of Portland sponsors these Lifelong Recreation classes.

    |

    Photo via Portland.gov

    It appears that 52% of the respondents are already retired. As for those yet to, the decision is split on whether to settle in Portland or elsewhere. What are your thoughts?
    If you rest, you rust
     
    The Wrap
     
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    Today’s edition by:
    Ben
    From the editor
    I visited The Freakybuttrue Peculiarium for the first time in the best way — with absolutely no intention to do so when I first woke up. It was a day of spontaneity where the universe took the reins — you can probably tell I had fun.
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