As expected, the construction market is seeing the start of a slowdown in Q1 2020.
Portland’s construction will continue to cycle between decline and growth in the years ahead. It is yet to be seen if Oregon’s new legislation on rent controls will have an effect on this predicted cycling. Portland is blazing new trails technologically with the eight-story Carbon-12 building, reported to be the tallest timber structure in the United States. Meanwhile, transportation remains the most active sector in Portland. Unemployment continues to run at 2.8% month-on-month and a shortage of labor remains. Unlike it’s nearby neighbor, Seattle, Portland has yet to see any dramatic affects from COVID-19, although that could change quickly.