Is resort building out of control?

| Print |  Email
Saturday, December 01, 2007

Your publication had a story [ANOTHER RESORT ON TAP FOR CENTRAL OREGON, OCTOBER] on destination resorts in which industry advocate Linda Swearingen informed the magazine that she believes the market for resorts in Central Oregon has yet to peak. “You don’t come in on a wing and a prayer to develop these resorts,” she stated, suggesting that the continued pursuit of land use approvals for destination resorts is evidence of true long-term demand.

We have our doubts. No one even knows if all the lots being approved in resorts are going to sell. Although lots sales remain strong for now, home construction is lagging considerably behind as many owners begin to question their investments. Is the market going to hold up? Is the region over-built? And will long-term supply actually be there once baby boomers go to sell? It’s hard to say anyone has any real answers to these questions, but concern is certainly mounting.

It’s useful to note that resorts make the bulk of their money on lot sales. It doesn’t take many lots before the developers find themselves in the “windfall” category. Is it possible that there is a mad rush for resorts because each development wants to get its lots sold before the market reveals its cracks?

Whatever the case, it’s disappointing that the major limitation to this industry seems to be speculative demand for lots, not overall impacts to Central Oregon and its residents.

Erik Kancler
Executive director,
Central Oregon Land Watch


Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

More Articles

That's Not a Watch (This Is a Watch)

February 2015
Tuesday, January 27, 2015

Smartwatches are all the rage. But old-fashioned timepieces keep on ticking.


Read more...

Carbon Power

February 2015
Tuesday, January 27, 2015
BY LINDA BAKER

Researchers in a multitude of disciplines are searching for ways to soak up excess carbon dioxide, the compound that contributes to global warming.


Read more...

10 quotes explaining crisis at Port of Portland

The Latest
Friday, February 20, 2015
022015 port portland OBM-thumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

The ongoing labor disputes at the Port of Portland came to a head two weeks ago when Hanjin, the container port's largest client, notified its customers it would be ending its direct route to Oregon.


Read more...

Editor's Letter: Tortoise and the Hare

February 2015
Monday, January 26, 2015

The day after this issue goes to press, the city of Medford will host its annual business conference. The event features Minoli Ratnatunga, co-author of the Milken Institute’s annual “Best-Performing Cities” report. Preliminary data suggests that Medford is likely to retain its No. 1 ranking among best-performing small cities for having a higher concentration of high-tech firms than the national average. 


Read more...

Nuclear fingerprints

March 2015
Tuesday, February 24, 2015
BY LINDA BAKER | OB EDITOR

At Oregon State University, a 21st century version of the bad dream — nuclear terrorism — is alive and well. This winter, the Department of Nuclear Physics and Radiation Health Physics created a new interdisciplinary graduate emphasis in nuclear forensics, a Sherlock Holmes-sounding program that aims to identify how and where confiscated nuclear and radiological materials were created.


Read more...

How Oregon will survive the loss of Hanjin

March 2015
Friday, February 20, 2015
BY JOE CORTRIGHT | OB CONTRIBUTOR

"Shipping containers to Portland is like waiting for a bus that travels once a day."


Read more...

Grassroots movement pursues carbon bills

News
Tuesday, February 24, 2015
eventthumbBY KIM MOORE | OB RESEARCH EDITOR

A partnership of a grassroots environmental organization and a youth group is striving to build community and business support for carbon price legislation.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS