This is already happening: the area just north of Bay Bridge looks like Berlin after the wall came down. In my opinion, it has positive feedback and will increase prices even further. Money attracts more money. See New York or Hong Kong- they've built up too. As the economy becomes global, the rise of super expensive cities is inevitable: London, New York, Hong Kong, San Francisco. Oregon has plenty of charming and cheap real estate for non-participants in the global economy.