HFO Multifamily Marketwatch for Oregon and SW Washington

The Center for Disease Control expands the federal eviction moratorium until June 30th; Tenant advocates in Seattle advocate a campaign to increase renter protections, and Oregon’s smaller towns are bouncing back faster economically than the state’s larger cities.

This week: Permits for new multifamily projects in Portland dropped precipitously in 2020; low housing inventory and higher lumber prices drive up new home costs; a bipartisan bill sponsored by US Senator Amy Klobuchar directs $1.5 billion to local governments that commit to increasing housing supply.

This week: a Federal Judge rules the CDC lacked authority to enact an eviction ban, opening the door for more legal challenges, and Twentysomethings are flocking to smaller, more affordable cities like Tacoma.

This week: The Oregon legislature prioritizes bills intended to address the state’s housing crisis; Economist Joe Cortright cites Inclusionary Zoning as the reason for the sharp decline in new multifamily building applications, and a new stimulus bill expands unemployment benefits but payments to Oregonians may be delayed.

This week: Oregon's economy forecast to boom; problems plague Oregon Landlord Fund website; and legislatures in Oregon and Washington go wild with housing-related bills. 

This week: Rental owners jam the State of Oregon Landlord Relief Fund website with hundreds of applications; a study by Redfin finds that increased housing density in Seattle has made it the most economically integrated city in the U.S. in just four years.

This week: Oregon’s rental owner reimbursement fund has opened for claims; wealthy neighborhoods continue to attempt to evade higher density through historic designations; a recent research roundup reveals a preponderance of evidence supporting the premise that increased market-rate housing makes all neighborhood rents more affordable.

This week: mind-boggling amounts of money needed to offset potential economic damage from unpaid rents and Multifamily NW urges rental providers to contact state legislators to support SB 330, which would provide a tax credit for unpaid rents.

This week: Portland’s stunning slowdown in multifamily permit applications; Washington State’s legislature kicking the tires on housing legislation; and renters across the country struggle to hold it together while awaiting help from the federal government.

The Oregon legislature is in session with competing housing priorities; both Washington State and the City of Seattle consider phasing out gas heating in new buildings. Experts at the Urban Institute claim that even a new round of stimulus checks will not be enough to avert a housing crisis.