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|Articles - May 2012|
|Monday, April 23, 2012|
Page 1 of 2
By Brandon Sawyer
Meanwhile, household incomes are still reeling in the wake of the recession, pummeled by higher-than-average unemployment and wage stagnation. So even though home prices continue to fall, more Oregon homeowners and renters are spending in excess of one-third of their income on housing.
Housing costs that take more than 30% of a household’s income are considered unaffordable. The U.S. Department of Housing and Urban Development (HUD) uses 30% to figure low-income housing subsidies; lenders use it to determine mortgage qualification. Households paying more are deemed “burdened.”
In 2010 Census estimates indicate that 54.3% of Oregon renters were burdened, increasing 7% from 2006, while 42.8% of mortgage holders were burdened, a jump of 15% in five years.
One factor in expensive rentals is the state’s low inventory. The statewide rental vacancy rate in 2010 was 5.6%, the fourth tightest in the country.
Oregon’s homeownership is among the lowest in the nation and has fallen further since the recession. In addition, of all occupied homes in 2010, 37% were rented, the seventh-highest rate in the nation.
“There’s a lot of pressure on rental rates, and that’s probably because more people who had been in homeownership are now looking in the rental market,” says Margaret Van Vliet, director of Oregon Housing & Community Services, the statewide agency that administers federal money and tax credits for low-income housing. “There’s been hardly any construction of new multifamily [housing] for many years,” she adds. “The market is re-correcting but, in the meantime you’ve got folks who are really kind of stuck. So it’s a tough time across the whole spectrum of housing needs.”
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BY JOE CORTRIGHT | OB CONTRIBUTOR
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Friday, February 27, 2015
BY OB STAFF
Oregon Business held its 22nd annual 100 Best Companies to Work For in Oregon celebration Thursday night in the Oregon Convention Center.
Friday, March 06, 2015
BY JEFF DELKIN | OP-ED CONTRIBUTOR
As a local business owner, I believe it’s important to build our economy on a platform of conservation values.
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VIDEO: Gifford's Flowers brings family approach to PSU-area shop.
Wednesday, March 04, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
On Wednesday night, a couple days ahead of the 2015 season kickoff, Major League Soccer and the Players Union reached an agreement.
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A new report highlights how Oregon bankers are giving back to their communities.
Since 1932 Tidewater Transportation & Terminals (operating as Tidewater Barge Lines and Tidewater Terminal Company) has operated a multicommodity transportation and terminal company based in Vancouver, Washington. The friendly expression on the company’s shipping containers reflects the attitude of about 330 safety and community-conscious employees but belies how complicated the barge business really is.
The Port of The Dalles has run marine facilities since the 1930s, but they are part of a larger mission to strengthen the local economy. They focus on regional economic development with a strong bent toward adding good-paying jobs in high tech, manufacturing and other industries.
Like the advent of the locomotive, the cloud creates business opportunities that simply weren’t possible before now. Get up to speed fast in May at an exciting cloud-empowered Portland event.
Registration is now open for Portland Business Alliance’s Annual Meeting, one of the largest business gatherings in Portland each year.
The Commission helps to advance the professionalism, equality and efficiency of Oregon's judicial branch of government.