Salem Oregon unbuilt development

We were out driving around looking for our small farm to buy, and came into Salem from the Eola Hills to the West. We found this housing development which did not seem to have slammed to quite as abrupt a halt as the one in Merced, but there is a lot of infrastructure that was put in and not much being built right now.

We check the sales data regularly in Linn and Benton counties, and the residential real estate market above $300,000 seems to be getting worse not better -- in terms of what sells (not much this year). In terms of how much people still think their property is worth, it's rather discouraging. But we are being patient.