Can’t get the straight story from the local media? Well at least OPB is keepin’ it real:
A new study by affordable housing advocates suggests that Oregon housing prices are getting increasingly out of reach for many people. The study shows that in the last eight years, housing costs have gone up 18 percent, while wages have inched up only six percent. Michael Anderson, with the Community Development Network, says escalating real estate prices have started to trickle down to tighten the rental market.
Michael Anderson: “As the home-buying market has slowed down, the pressure in the rental market is increasing. And, every indicator that we see is that prices in the rental market are going to continue to go up, and we don’t any similar trend in wages.”
The study shows that the problems are worst in a handful of southern and eastern Oregon counties, where as many as half of renters are paying more than one-third of their incomes for housing.
Overvalued? Here in Bend? Never…
Source:
Oregon Housing Prices Becoming Unaffordable For Many
Rob Manning
OPB News