Oregon
Triple the home, half the price: A boomer cashed out of California for a better deal in Oregon
- Jeremy Smith sold his 2 California houses in 2021 when demand for homes surged and mortgage rates fell.
- Smith and his wife moved to Oregon, where they found a much larger home for half the price.
- While Smith misses California, he’s surrounded by ex-Californians in his Portland suburb.
As a businessman, Jeremy Smith never liked the term “downsizing.” When a CEO uses it, it doesn’t tend to be good news.
When it came to retirement, though, Smith and his wife were excited to eventually trade their house in San Ramon, California, 35 miles east of San Francisco, for a smaller, more affordable home to grow old in.
But the couple ultimately opted to upsize their living space — if not their mortgage payments. They ended up leaving California behind and buying a much larger — and much cheaper — place in Oregon.
Smith, who founded a food brokerage company called LaunchPad, wasn’t quite ready to retire in 2021. But watching home values in California skyrocket in 2021, he decided it was time to sell. First, he listed his South Lake Tahoe vacation home, which he’d bought just six years prior for $540,000. The house sold the same day in April 2021 for $1.2 million, all cash and over the asking price.
The sale convinced him to put their primary East Bay house on the market, too. That home, which Smith bought in 2010 for $600,000, sold for $1.5 million.
At first, the couple considered retiring to someplace in Southern California, like Malibu or Manhattan Beach. But their home sales suggested to him they needed to buy their next place outside of California’s hyper-competitive, extremely expensive market.
“I felt like it’s one of those things where you throw a quarter in a slot in Vegas, and it pays $1 million, and you don’t stay at the casino. You get that money, you get the hell out, and you go home so you’re not tempted to spend it,” Smith said.
Smith’s wife, a native Oregonian, pushed for Portland. So they decided on the small city of West Linn, a quiet suburb just south of the city.
When they realized how much more affordable Oregon was, they opted for a home almost three times the square footage of their San Ramon house, but at half the price. They bought the place for $750,000 in June 2021, while mortgage rates were still low.
“I didn’t realize the tremendous cost of living savings that we would get by moving to Portland,” Smith said. “We wound up getting more for a lot, lot less, which allowed us to invest back into the stock market.”
Courtesy of Jeremy Smith
A community of Californians
Despite loving the Portland area in many ways, Smith misses California. He yearns for warmer weather, sunshine, ocean views, and living closer to his three children and grandchildren. He says he visits about four times a year to see his kids and doctors.
“I miss the hell out of California,” he said. “Yes, it’s expensive, but it’s a magical place.”
Still, he loves being surrounded by Oregon’s many rivers and Lake Oswego, where his wife kayaks regularly with her friends. And the food is excellent in Portland, he added.
And while Smith may have left California, he’s still surrounded by Californians. He estimates that 12 of the 14 homes in his gated neighborhood are owned by people who moved to Oregon from California. Many came to Portland for a more affordable retirement, and some still have homes in the Golden State.
These days, he spends his time walking his two French bulldogs, eating out with friends, and chatting with neighbors. “It’s nice to be able to joke around and talk about all the fun stuff in California,” he said.
But he’s still adjusting to some of Oregon’s quirks.
“I’ve never seen so many damn beards in my life,” he joked. “And you’ve got to get used to flannel shirts.”
Do you have a story to share about home selling, buying, or moving? Contact this reporter at erelman@businessinsider.com.
Oregon
Oregon gas prices highest since Sept. 2025 as oil surges on Hormuz disruptions
PORTLAND, Ore. (KATU) — Crude oil prices surged after U.S. and Israeli strikes on Iran and stalled tanker traffic through the Strait of Hormuz, pushing gas prices sharply higher across the country, though Oregon and Washington are seeing smaller increases than many other states.
The national average price for regular gasoline jumped 43 cents over the past week to $3.54 a gallon.
Oregon’s average rose 31 cents to $4.26 a gallon, the 42nd-largest week-over-week increase among states.
Washington also increased 31 cents, ranking 44th-largest.
READ ALSO | Oil prices spike amid Iran war; Oregon gas remains above national average
The current national average is at its highest price since July 2024. Oregon’s average is at its highest since Sept. 2025.
“When crude oil prices shoot up, pump prices follow suit because crude oil is the basic ingredient in gasoline and diesel. It’s impossible to predict how high prices might go, but expect elevated oil and gas prices as long as the conflict in Iran continues and tankers are stalled in the Strait of Hormuz,” said Marie Dodds, public affairs director for AAA Oregon/Idaho.
AAA notes that, in general, every $1 increase in the price of crude oil leads to a 2.4- to 2.5-cent increase in the price of gasoline.
Crude oil typically accounts for about 47% of the cost of a gallon of gasoline, with refining at 16%, distribution and marketing at 20%, and taxes at 17%, according to the U.S. Energy Information Administration.
About 20% of the world’s oil and refined products flow through the Strait of Hormuz, a narrow passageway of the Persian Gulf bordered by Iran.
Tankers traveling through the strait carry oil from major producers including Saudi Arabia, Kuwait, Bahrain, the UAE, Qatar, Iraq and Iran. Any disruption can affect global oil supplies. While the U.S. does not rely on Iranian oil, China and India do.
Seasonal factors are also adding upward pressure. Gas prices typically rise starting in mid-to-late winter and early spring as refineries undergo maintenance ahead of the switch to summer-blend fuel, which is more expensive to produce and less likely to evaporate in warmer temperatures.
National gas price comparison/AAA chart
Most areas have a May 1 compliance date for refiners and terminals, while most gas stations have a June 1 deadline to switch to selling summer-blend. Some refineries begin maintenance and the switchover in February.
In Oregon, the average price for regular gas began 2026 at $3.42 a gallon. The highest price of the year so far is today’s $4.26, and the lowest was $3.33 on Jan. 20. Nationally, the average began 2026 at $2.83 a gallon. The highest price of the year so far is today’s $3.54, and the lowest was $2.795 on Jan. 11.
AAA reported that U.S. gasoline demand decreased from 8.73 million barrels per day to 8.29 million for the week ending Feb. 27, compared with 8.88 million a year ago.
Total domestic gasoline supply decreased from 254.8 million barrels to 253.1 million. Gasoline production increased last week, averaging 9.3 million barrels per day compared with 9.2 million barrels per day the previous week.
Crude oil prices have been volatile. West Texas Intermediate surged to near four-year highs around $95 per barrel this week but fell to the $80s today as President Trump signaled the conflict with Iran may end soon.
On the West Coast, all seven states remain in the top 10 for the most expensive pump prices nationally.
California has the highest average for the fifth week in a row at $5.29 a gallon and is the only state at or above $5.
Washington is second at $4.69, Hawaii third at $4.59, Nevada fourth at $4.30 and Oregon fifth at $4.26. Arizona averages $3.97 and Alaska $3.95.
All 50 states and the District of Columbia saw week-over-week increases. California had the largest jump at 62 cents, while Hawaii had the smallest at 19 cents. AAA said Oregon and Washington prices also rose last month after an outage of the Olympic pipeline.
The cheapest gas in the nation is in Kansas at $2.96 a gallon and Oklahoma at $3.01. Kansas is the only state with an average in the $2 range this week. The gap between the most expensive and least expensive states is $2.33 this week, up from $2.05 a week ago.
Compared with a month ago, prices are higher everywhere: the national average is up 62 cents and Oregon’s average is up 68 cents.
Compared with a year ago, the national average is up 45 cents and Oregon’s average is up 53 cents.
Diesel prices also spiked. The national average for diesel rose 89 cents over the week to $4.78 a gallon, while Oregon’s average jumped 72 cents to $5.02.
A year ago, the national average for diesel was $3.63 and Oregon’s average was $3.86.
Oregon
Judge in Oregon limits federal officers’ tear gas use at Portland ICE building protests
PORTLAND, Ore. (AP) — A federal judge in Oregon on Monday restricted federal officers from using tear gas at protests at the U.S. Immigration and Customs Enforcement building in Portland, in response to a lawsuit filed by the ACLU of Oregon on behalf of protesters and freelance journalists.
U.S. District Judge Michael Simon issued the preliminary injunction after a three-day hearing in which the plaintiffs — including a demonstrator known for wearing a chicken costume, a married couple in their 80s and two freelance journalists — testified about having chemical or projectile munitions used against them.
The lawsuit, whose defendants include the Department of Homeland Security, argues that federal officers’ use of such munitions is a retaliation against protesters that chills their First Amendment rights.
“Plaintiffs provided numerous videos, which were received in evidence and unambiguously show DHS officers spraying OC Spray directly into the faces of peaceful and nonviolent protesters engaged in, at most, passive resistance and discharging tear gas and firing pepper-ball munitions into crowds of peaceful and nonviolent protestors,” Simon wrote, using the term OC Spray to refer to pepper spray.
“Defendants’ conduct — physically harming protestors and journalists without prior dispersal warnings — is objectively chilling.”
DHS did not immediately respond to a request for comment. In previous statements, it said federal officers followed their training and used the minimum amount of force necessary.
Simon had previously issued a temporary restraining order similarly limiting federal agents from using chemical munitions during protests at the ICE building. His preliminary injunction is the second in recent days restricting agents’ tear gas use at the facility, following that of a federal judge overseeing a separate case brought by the residents of an adjacent affordable housing complex.
Federal officers’ aggressive crowd-control tactics are causing concern as demonstrators in cities across the country have protested the immigration enforcement surge spearheaded by President Donald Trump’s administration.
In his Monday order, Simon limited federal agents from using chemical or projectile munitions such as pepper balls and tear gas unless someone poses an imminent threat of physical harm. He also ordered agents not to fire munitions at the head, neck or torso “unless the officer is legally justified in using deadly force against that person.”
Additionally, officers cannot use pepper spray against a group in an indiscriminate way that would affect bystanders; they must only target people who are engaging in violent unlawful conduct or actively resisting arrest, or use it “as reasonably necessary in a defensive capacity,” Simon wrote. He specified that trespassing, refusing to move and refusing to obey an order to disperse are acts of passive, not active, resistance.
Simon also granted provisional class certification, which means his order covers a broader group of all those who have peacefully protested or reported on demonstrations at the ICE building in recent months.
The preliminary injunction will remain in effect while the lawsuit proceeds.
Oregon
Oil prices spike amid Iran war; Oregon gas remains above national average
PORTLAND, Ore. (KATU) — Oil prices continue to soar Monday as the war in Iran shows no signs of slowing down. Oregon’s gas prices are above the national average.
Production and shipping in the Middle East have been jeopardized by the conflict, pummeling financial markets.
The Associated Press reported that the price for a barrel of Brent crude surged to $119 on Monday. That’s the highest level it’s been since the summer after Russia invaded Ukraine in 2022. Brent crude is the international standard.
RELATED| High oil prices won’t limit Trump’s actions in Iran war: Hegseth
The prices fell to just under $100 later Monday, but barrels are still 36% more expensive than they were before Israel and the United States attacked Iran on Feb. 28.
Today’s AAA national average is $3.478, whereas Oregon’s current average across the state is $4.205.
SEE ALSO | New video shows US Tomahawk hit Iranian Naval Base near school
The average in Oregon just a year ago was 3.730, demonstrating a 12% increase since then.
Still, Washington State’s current average remains higher than Oregon’s, at $4.630.
Malheur County in Oregon currently has the cheapest gas price at $3.499, while Josephine has the more expensive at $4.447.
AAA suggests maintaining cars to the manufacturer’s recommendations can help save fuel. The agency also recommends slowing down and driving the speed limit, avoiding “jackrabbit” starts and hard accelerations and avoiding extended idling to warm up the engine, in winter and even prolonged idling in general.
Research by AAA has shown that premium fuel provides no added benefit unless it is recommended or required by the car’s manufacturer.
Vice President and Global Head of crude oil research at at S&P Global Energy Jim Burkhard said in an analysis on Monday that, at first, the crisis was a transportation issue, “which could conceivably be resolved quickly.”
However, he explained that production and storage concerns are increasingly piling up and restoration “will be a massive technical exercise that could last weeks or more.”
Energy experts’ opinions are clashing, as some warn the war could contribute to even higher oil prices in the near future. In particular, if the Strait of Hormuz remains closed for only a few weeks, oil and gas strategists at Macquarie Research said the price of crude could push to a $150 per barrel or higher. Such prices would top previous peaks of nearly $147, which were reached just before the 2008 financial crisis.
Others, however, don’t expect the disruptions to last much longer. Oxford Economics researchers predict prices will soon fall to an average of $80 a barrel for the quarter, but noted today that the “risk of a more prolonged crisis has clearly increased.”
Iran exports roughly 1.6 million barrels of oil a day, mostly to China, which has called for an immediate end to the fighting.
The Associated Press contributed to this report.
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