Luxury 'Street of Dreams' builders stuck with pricey homes

Along South Grasle Road outside Oregon City, six supersize Street of Dreams homes built in 2007 back up to ribbons of Doug fir and a glazed Mount Hood peak.

The builders came to attract future customers, and they were optimistic about selling the show houses that stretched to $3 million. Normally, two or three homes sell during the show and most are sold within a year.

But nine months after the Street of Dreams show, none has sold.

The show opened just as the U.S. mortgage market tumbled, triggering the Portland region's biggest home price decline in at least two decades.