One of the largest builders of affordable single-family homes in Oregon for 21 years, HOST Development, has shut down due to the economy.
Before closing down, HOST had been building up to 100 homes a year.
That's dozens more than even another motivated builder, Habitat for Humanity, could manage in the same period."Even that was a drop in the bucket compared to the need," says [President Ted] Gilbert.
City housing officials so far are keeping a stiff upper lip, acknowledging the blow but clinging to hopes that other developers might fill the void—especially now that land is cheap.
Read more at the Portland Mercury.