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October 17, 2007

Oregon builders cut back

PORTLAND (AP) — With the Portland region facing its largest housing inventory in three years, builders are starting to reduce prices and offer incentives to clear out stock. And they are starting to cut back on building.

“There's a lot of standing inventory and real price-point issues that are going to slow the pace of construction,” said housing economist Jerry Johnson, who advises home builders and local governments.


 
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