Oregon Public Broadcasting

Our series Hard Times profiles people who have been hit hard by this recession.  Last week, we introduced you to Michael Smith, a 50-year-old engineer from the Portland area. 

Six months ago, he lost his job with a firm that builds measuring devices for computer chips.  It’s the first time Smith has been unemployed, and his confidence was shaken.

Michael  Smith: “You do wonder about it, but on the other hand I try and be objective.  You can take it personally, then if you do that, you just sit around and you don’t do anything.”

So he and his wife did something.  They gave up their dream home in Sherwood, which they bought two years ago for $850,000.  They’re now buying a much more modest home in Happy Valley. 

I caught up with Michael Smith at a hotel in Oregon City as he was waiting to close on his new home.  When I asked if he sold his previous home for anything close to what he paid for it, this was his reaction.