^lortlanò OObseruer
March 30, 2011
HOUSING
special edition
Page 9
Po't&iuul Community. Reinvestment initiatives
PCRÏÏ
• 3 bedrooms, 2 bathrooms
• 1,550-1,620 square feet, open floor plan
• Private fenced yards
• City parks 2 blocks away
• Energy efficient appliances
• Heating & cooling
• io-year property tax exemption
• Prices as low as $185,000
photo by
M ark W ashington /T he P ortland O bserver
A newly constructed home in northeast Portland goes up for sale.
New Home Sales Extremely Low
(AP) — Sales of new homes in the
United States have slumped to the
lowest level since the 1960's, official
data shows, offering more evidence
of an lingering real estate crisis.
Sales tumbled nearly 17 percent
in February, the Commerce Depart
ment reported last week, to a sea
sonally adjusted total of 250,000
sales during the month.
That marked the lowest number
of units sold since 1963, when
records began.
At the current rate it would take
almost nine months for the all the
new homes on the market to be sold
- if no more homes are built.
The National A ssociation of
Realtors said sales of already-
owned hom es fell 9.6 percent in
February.
Despite low home prices and ul
tra-low interest rates the market has
faltered as banks have tightened up
loan requirements, ending years of
profligate consumer borrowing.
Call us at (503) 288-2923 ext. 129 (Ask for Ben)
These homes are set aside for households at or below 80% of the area median family Income (MFI).
Additional details about the home buying process and requirements are available at PCRi.
PCRI is a nonprofit community-based affordable housing organization.
Affordable Rentals Also Available Now!
Celebrating 29 years of providing
quality, affordable housing and opportunities for
individuals, families and communities to thrive.
1135 SE S a lm o n St
P o rtla n d , O R 9 7214
£3 REACH
5 03 .2 31 .0 68 2
w w w .r e a c h c d c .o r g
r
Community Development