Chart 2

The title is "Vacancy Rates in Portland Remained Higher Than 1990 Levels."

A line chart that shows the year-to-date office and industrial vacancy rates in Portland from 1990 through third quarter 2003. Office vacancy rates were 15.4 percent in 1990 and declined steadily to 5.3 percent in 1997. Office vacancy rates rose to 8.7 percent two years later, dropped to 7.1 percent in 2000, jumped to 18.8 percent in 2002, and inched up to 19.0 percent in third quarter 2003. Industrial vacancy rates were 5.5 percent in 1990, declined to 3.4 percent in 1993, rose to 5.3 percent in 1994, fell to 3.9 percent in 1996, climbed to 6.6 percent in 1998, moderated to 5.2 percent in 2000, and jumped to 11.02 percent in third quarter 2003.