Tuesday, June 15, 2004
Spinning Bad News about Growth Boundaries
The Oregonian claims that a new report shows that out-of-state retailers are "clamoring" to move to Portland because the urban-growth boundary makes Portland such a great place. However, the report, which was written by a real estate investment firm, didn't really say that.
According to a summary of the report, the urban-growth boundary and other Portland land-use policies create "formidable barriers to entry." This means there is less competition for retailers, who can therefore charge higher prices. So retailers would like to come to Portland--they just can't because, thanks to Metro's land-use policies, there is no place for them to go.
The same report ranks the nation's forty largest urban areas for their attractiveness to retail investment. Last year, Portland ranked 24. This year, Portland dropped to 30. Altogether, this is hardly the endorsement for urban-growth boundaries that the Oregonian makes it out to be.
According to a summary of the report, the urban-growth boundary and other Portland land-use policies create "formidable barriers to entry." This means there is less competition for retailers, who can therefore charge higher prices. So retailers would like to come to Portland--they just can't because, thanks to Metro's land-use policies, there is no place for them to go.
The same report ranks the nation's forty largest urban areas for their attractiveness to retail investment. Last year, Portland ranked 24. This year, Portland dropped to 30. Altogether, this is hardly the endorsement for urban-growth boundaries that the Oregonian makes it out to be.
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