Housing price

The problem that continues to hurt Oregon’s growth is the supply of new housing.

The state has failed to keep up with demand for rentals. It has failed to keep up with places for people to own.

One estimate is Oregon has been underbuilt by 111,000 housing units in recent decades. The state needs more of all housing types at different price points. It might need 584,000 units over the next 20 years, according to a recent ECONorthwest analysis for the state. And nearly half of them may need to be built to serve households who are making below median income.

The under supply already hurts the ability of employers to attract employees. And families are forced to pay more of their income for housing and have less for other things. It could cripple Oregon’s future growth.

Oregon may be a national leader in all the planning it requires to accommodate growth. It needs to be a national leader in creating needed housing. What mix of rules, regulations and incentives will get Oregon there? Which candidate for governor will give us the best chance of delivering that?

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(2) comments

Yossarian

"The state has failed to keep up with demand for rentals. It has failed to keep up with places for people to own."

The most efficient cure for high housing prices is higher housing prices. What the city has failed spectacularly at is increasing the supply of developable land, e.g., Bend's urban growth boundary, to keep pace with Bend's population increases. Bend hasn't expanded its UGB since 2016 while Bend's population has increased at least 10% since then. If high housing prices are your thing, well then Bend has the government it deserves.

Transitory Inflation

'The state has failed to keep up with demand for rentals.'

The state is responsible for housing stock levels?

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