FOR IMMEDIATE RELEASE 

February 2026 

BOMA Oregon Highlights Need for Strategic Recovery Amid Stark 2026 Economic Assessment

Portland, OR —BOMA Oregon issued a statement in response to the Portland Metro Chamber’s newly released 2026 State of the Economy report, which outlines a region confronting slowed population growth, declining employment, weakening traded-sector competitiveness, and a significant downturn in housing production. 

The report paints a sobering picture of a metro area at an “inflection point,” with longstanding economic strengths no longer generating the outcomes they once did. Population growth has slowed dramatically, with natural population increase nearly stalled—now accounting for just 0.1% of regional growth, a steep decline from 0.7% in 2000. Future growth is increasingly dependent on international migration, a factor the report identifies as vulnerable to federal policy shifts.  

Employment trends are similarly concerning. The Portland region lost 8,800 jobs in 2025, ranking among the worst-performing major metro nationwide. Job losses were broad-based across industries, with declines in professional services, manufacturing, construction, and information, while gains occurred only in locally oriented sectors such as health care, education, and government.  

At the same time, the report shows Portland continues to rank near the bottom of national real estate outlooks, falling from third in 2017 to 80th (out of 81) today. Housing production has slowed sharply: only 656 new multifamily units were permitted in 2025, down from 2,092 in 2023, signaling continued strain on a housing pipeline already insufficient to meet regional needs.  

BOMA Oregon 2026 President, Ross Kelley, issued the following statement: 

“The 2026 State of the Economy report underscores what BOMA Oregon’s members have been experiencing on the ground: Portland Metro’s economic challenges are no longer isolated or cyclical—they are structural. Declining employment, stalled housing production, and weakening competitiveness in commercial and traded-sector markets all directly affect our region’s buildings, our workforce, and the long-term health of the commercial real estate industry.” 

“At the same time, BOMA Oregon sees this moment as an opportunity. The report calls for ‘urgency, coordination, and clarity,’ and we agree. Our industry is ready to partner with policymakers and regional leaders to advance policies that promote economic stability, incentivize investment, expand housing supply, and restore confidence in Portland as a place to live, work, and build. When the business community, local government, and civic institutions row in the same direction, this region has proven repeatedly that it can reverse course.” 

BOMA Oregon emphasizes that renewed collaboration, targeted economic development strategies, and a commitment to regulatory and permitting modernization are essential steps toward reversing these trends. The organization will continue working with the Portland Metro Chamber, industry partners, and public agencies to advocate for solutions that support building owners, property managers, investors, and tenants—and ensure Portland’s built environment remains a foundation for regional prosperity. 

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BOMA Oregon is a leading trade association representing the commercial real estate industry in Oregon. Our mission is to advance the interests of the industry through advocacy, professional development, and networking opportunities.