Does Nobody Care? Affordable Housing (Portland: 2013, rental market, home)

[pdxMIKEpdx]

In my experience, "wages" don't really "keep up" with the rising costs of anything.

It's your type of job (and your level of "practical" education) that determine your wage levels.

There must be just enough of those well paying jobs out there to support the Portland real estate market.

[oldtintype]

Originally Posted by freemkt

Does anyone have ANY useful ideas for those at or below 30% of median income? For a long time there was a scuzzy SRO building in Old Town that consistently had open and available rooms in the neighborhood of $300 per month. That's way gone now.

Look on the Housing Connections website or the Home Forward website. They have lists of low income places.

[Deezus]

Originally Posted by pdwpdx

I think when newcomers (such as myself) get flummoxed is when they discover the marked disparity between the cost of housing and the median and per capita incomes for the area. Why have wages not kept up with the rising costs of housing?

Because Portland has a weaker economic base than Seattle or the Bay Area, yet people keep moving here. It's still an employer's market here, so when you have hundreds of people(all qualified, all with degrees) applying for certain positions, there's no incentive to offer a higher salary(unless it's a more techncal role that only a few could apply for).

People move here and buy homes with equity gained from high priced real estate markets and consider it a bargain, yet that just has the effect of bringing property values up overall. They're not bringing jobs here--people move here without jobs because Portland is such a popular place to relocate to.

Employers can be greedy if they want because if they offer someone a job and they don't like the pay, there's 20 more people who are most likely just as qualified who can do the role. Once again, certain more specialized roles have leverage, but still Portland has a ready pool of applicants from outside the region you're competing with as well.

Portland's blessing and curse is that's it's currently "desirable". Some people find a way to make a nice profit off that fact--other folk just want to try to find a regular job and are going to be shat out of luck in the competition for jobs and housing...

[EnricoV]

Originally Posted by pdwpdx

I think when newcomers (such as myself) get flummoxed is when they discover the marked disparity between the cost of housing and the median and per capita incomes for the area. Why have wages not kept up with the rising costs of housing?

That was the situation before you moved here. And will likely continue to be.

Not sure why anyone should be "flummoxed" by something that was evident with just a tiny bit of research.

[pdwpdx]

Well, I came from a place where local wages were much more in line with housing prices. I assumed that higher housing prices=higher wages to meet those prices. I guess I should have done more research. Silly me.

[EnricoV]

Well, it is a little naive to assume that because conditions are a certain way in one place, they will be in another.

[pdwpdx]

Fair enough. I know I've probably come across as a bit disgruntled in some of my posts. I guess I've just had many somewhat rude awakenings since moving here, like the price tag on that modest little two-bedroom house down the street or the rent for that drafty old apartment. I guess living here really does come at a premium. The question one starts to ask after awhile is, "Is it worth it?"

[karlsch]

Rents growing much faster than income isn't unique to Portland: http://www.nytimes.com/2014/04/15/bu...=business&_r=0

[jjpop]

I think wherever you go, if you insist on living in the most desirable inner neighborhoods it will be the most expensive. Those locations are priced based on demand.

You don't have to go too far out to find better rental rates. Here's an example: Raleigh Scholls Apartments. These apartments are within walking distance of a New Seasons, Fred Meyer, Walgreens, and several places to eat (including a Sesame Donuts, which is a little dangerous IMO).

[ccjarider]

Originally Posted by freemkt

??? Not feasible for many people, e.g. unskilled or disabled or elderly.

Unskilled should become skilled.
Elderly had a whole life to get it together.
Disabled - I agree that society should have appropriate safety net - although for many, there is.