hopeful news for portland housing affordabilty
Hey all,
Part of being a Realtor is being in tune with what we’re seeing in the market and, even more important, what our clients are feeling in the market. Over the last several years, there has been a loud cry that homes have become unaffordable for many folks in the region. And while we’re of course delighted for our Sellers who were able to get their foot in the homeowner door years ago and have gained a lot of equity in their investment, we’re also hurting for our Buyers who struggle to find a home in their budget.
This week, some news rolled out on that housing affordability front and we’re pretty hopeful about it. The Portland City Council unanimously approved the city's first “Housing Production Strategy”.
So what does that mean?
The Housing Production Strategy focuses on creating equitable housing opportunities for those facing the greatest challenges—low income families, communities of color, seniors, people with disabilities, and individuals experiencing houselessness.
This proposed strategy builds on several key actions since the Council first declared a housing emergency in 2015, and more than a dozen actions the City has taken since early last year:
Fixing the Inclusionary Housing Program to better support new projects
Simplifying zoning rules and improving the permitting process
Offering grants and incentives to increase homeownership and affordable housing development
Advocating for changes to State law to speed up the approval of homeownership incentives
Encouraging office-to-housing conversions and balancing environmental protections with housing needs
Commissioner Rubio had this to say about the plan, “There are 35 items in the Housing Production Strategy – 35 ways that we can adjust the levers we control and use the tools in our toolkit. Some of them are big, complex lifts that will take years. Others are smaller and more discrete. But here’s what they all have in common: These are not pie-in-the-sky ideas that will sit on a shelf for years and years until there’s the political will to do them. This is a very real list of work that we fully intend to do. And I am grateful to be in a state where we will be held accountable to that promise. Two of the items we already completed earlier this year. A whopping 15 are currently underway. Four more are kicking off this fall. That means that when our new Mayor and City Commissioners start their jobs on January 1st, nearly half of the items in this document will be in progress or already completed.
This list is a huge step for Portland and for Oregon. It represents the core of the work that we in City government will be doing to ensure that we have the amount – and types – of housing that our residents will need in the next 20 years. It will provide clarity for City leadership and staff in the coming years on how to develop their work plans and prioritize their time and resources. It offers the transparency that the public needs to keep us on track.”
It’s news to no one that our city has had it’s fair share of struggles over the last few years. But we’re here to say that we still love it, want the best for it, and want as many people to have a shot at homeownership as possible. So here is to our city and hoping that these changes result in the housing health it needs!
Have a great end to your week everybody,