Port Townsend economic health? (Seattle, George: for sale, home equity, houses)

[george_seifert]

I'm just wondering about the current economic health of Port Townsend. There seems to be an awful lot of houses for sale in the area. Is this because people can't get jobs and need to move to find a job?

We're hoping to move there next year for our retirement years. Having a lot of houses for sale is good in that it makes it easier to find something, but could be bad if it means the area is going downhill.

Thanks,
George

[Ruth4Truth]

I don't think it's going downhill any more than most other places around the US. It's not booming like Seattle, but few places are.

Judging by this forum, quite a few people are interested in moving there. It seems to draw people.

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[amaiunmei]

State of Jefferson county economic health: not good. Out of 11 economic categories, the county has lost jobs in 6 of them. Not a good sign.

https://fortress.wa.gov/esd/employme...area-summaries

Click on the "select area" drop down and choose "Jefferson County".

[Jumpindogs]

Originally Posted by amaiunmei

State of Jefferson county economic health: not good. Out of 11 economic categories, the county has lost jobs in 6 of them. Not a good sign.

https://fortress.wa.gov/esd/employme...area-summaries

Click on the "select area" drop down and choose "Jefferson County".

And gained in 5 categories although the total drop (approx. 29 %) is more than the total gain (approx. 21%). Additionally the overall unemployment rate has dropped although that prolly doesn't account for those who have stopped looking for work. Not saying the picture is rosy but that there are lots of variables to consider. The substantial increase in jobs in Educational and Health Services for both Jefferson and Clallam counties indicates that lots of folks think it's a good area to retire to. Savvy private business owners will redirect their efforts to snag that retiree market share.

[Hemlock140]

Port Townsend is too far to commute to job centers, and has very few of it's own. It's still a good retirement choice as long as you are not trying to build home equity for your heirs. Prices are reasonable and not jumping up as it is on this side of the water where it's been 10% per year. It's also a bit of a drive to major medical facilities.

[amaiunmei]

Originally Posted by Jumpindogs

And gained in 5 categories although the total drop (approx. 29 %) is more than the total gain (approx. 21%). Additionally the overall unemployment rate has dropped although that prolly doesn't account for those who have stopped looking for work. Not saying the picture is rosy but that there are lots of variables to consider. The substantial increase in jobs in Educational and Health Services for both Jefferson and Clallam counties indicates that lots of folks think it's a good area to retire to. Savvy private business owners will redirect their efforts to snag that retiree market share.

If you look at the "employment and unemployment" numbers, that tells the whole tale.

Frankly, if the numbers for the civilian labor force stays about the same and the number of overall unemployed people drops - as well as several economic industry indicators - that points to a very strong likelihood that people are not being counted precisely because (a) they are not looking for work, and (b) they are no longer collecting unemployment.

With unemployment only lasting up to 26 weeks for most people, the unemployment numbers can and will fluctuate.

Note that education AND health services are lumped together. I would postulate that the increase in jobs is more on the "health services" side (read: nursing assistants, caregivers, etc.) and less on the education side.

[CrazyDonkey]

Quite a few artists in the Port Townsend area, which doesn't necessarily figure in the employment/unemployment figures. Tourist employment is concentrated in the summer months. Sales tax revenue might give a better idea of the health of the local economy.

[george_seifert]

Thanks for the thoughtful posts. I'd love to hear more.

George

[TrueTimbers]

If you need more than say $12 an hour.. Better bring your own job. Just a fact of life at the end of the road in a rural community.

[george_seifert]

We're retired so I won't be looking for a job. Just wanted to make sure that others will be around though and it won't become a ghost town.

George