Homeowners dwindle

Homeowners dwindle

BY BRANDON SAWYER

While the real estate picture has vastly improved in Oregon and the rest of the country since the depths of the recession, falling and rising tides did not sink and lift all states equally. Comparing the periods leading up to the recession, 2007-09, and just after, 2010-12, Oregon’s homeownership rate experienced the ninth highest decline in the nation. Among neighboring states, Oregon maintains a higher level of homeownership than California and Nevada but trails Washington and Idaho. Falling property values may encourage some to enter homeownership but may lead more mortgage holders to exit. Oregon saw an 11.1% decline in median property values between the two periods, the 11th biggest in the nation, yet its values held up better than Washington, California and Nevada.

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