New homes swamp Oregon's coast

The Oregonian reports:

From the California border to the Washington state line, the Oregon Coast faces an unprecedented wave of home construction fueled by buyers drawn from across the West.

More than 5,300 units or building lots have been approved for development, according to a survey by The Oregonian of government planners, real estate experts and developers on the coast who said the boom -- mostly in high-priced second homes -- is like nothing they have ever seen.

You might want to read the whole thing.