Jesse Beason Homes near the urban core have not always been the priciest homes in the region. NE Portland just 15-20 years ago had nearly 2,000 abandoned homes. This had little to do with buildable land.
That was 20 years ago, before the UGB started to squeeze land prices. Land is not going for close to a million an acre in Tigard. That is $115,000 for a standard 5000 sq ft lot. That should be close to the entire price of house and lot, but it is only for the land. Now build a house on it. But you usually don’t put a $100,000 house on a $115,000 piece of land, so you put up a more expensive house and end up with ½ mil.
See The Planning Penalty at www.ti.org for what $150,000 buys in a free market.

Jesse Beason Historically black neighborhoods are changing because of a reignited interest by those with money to live closer to the urban core. The market affordable rental housing, once found in abundance close in, is moving to the suburbs.
JK: With the suburbs inflated by Metro’s artificial shortage of land, the inner city is inflated even more. That is what is driving out the poor. Remove the UGB and you get $150,000 houses in the burbs and an affordable inner city. Based on the The Planning Penalty I am guessing that renters are paying over $200 per month in inflated rents due to the same planner’s blunders (Metro’s artificial shortage of land.) Do you like paying an extra couple of hundred per month for the UGB?

Jesse Beason You fail to acknowledge that people's interest drive a market as well--and I believe that interst is what's inflated much of housing nationwide. Not just buildable land.
JK: That is the standard line the planners feed people all over the country after they destroy housing affordability. It is a lie.

Thanks
JK