Page 8 The Skanner April 19, 2017
FAIR HOUSING
Evictions
cont’d from pg 7
one month’s-worth of rent to cov-
er relocation costs.
Many of these provisions pro-
vide exemptions for small-scale
landlords who, for instance, live
on the property themselves and
rent out extra rooms or property
owners with four or fewer units.
Additionally, the bill would al-
low cities and counties to adopt
their own rent-control policies
customized to the needs of their
individual jurisdictions — a de-
gree of autonomy that localities
are not currently afforded by
state law. Local rent-control pol-
icies would still have to abide by
the various landlord exemptions
laid out in HB 2004.
“Renters who are paying their
monthly rents are paying for
property mortgages, mainte-
nance, utilities and property tax-
es as surely as if they were own-
ers of the apartments or homes
they live in,” Barbara Ray, a Salem
resident, said in written testimo-
ny last week while the bill was be-
ing debated in committee. “They
deserve reasonable notice that ...
will allow them a chance to find a
suitable home in today’s high rent
market.”
A few members of the Dem-
ocratic majority joined House
Republicans in opposing the bill
Tuesday, saying it would exacer-
bate the supply-shortage and ris-
ing-cost problems it aims to solve.
They argue the bill would hurt
landlords, especially those whose
incomes rely on one or two mod-
est properties.
Charlie Tabasko, a property
broker for Waldport Realty Co. in
the coastal town of Waldport, Or-
egon, blasted lawmakers in testi-
mony last week for putting prop-
erty owners on the hook to solve
the state’s housing problems.
Save the Dates!
Home Retention Information Sessions
For East Portland Homeowners
Saturday, MAY 6, 2017 • 10am - 11am
Monday, MAY 8, 2017 • 6pm - 7pm
East Portland Community Center
720 SE 106 Avenue, Portland
Reserve your space online @ www.aaah.org
A Taste of Lents Festival
Saturday, JULY 29, 2017 • 12pm - 6pm
Lents Park (Corner of SE 92nd and Holgate)
Free MUSIC, ARTS & CRAFTS, RESOURCES
Homeownership Fair & Homes For Sale Bus Tour
Saturday, OCTOBER 28, 2017 • 10am - 3pm
Emanuel Hospital Atrium, 501 North Graham, Portland
e
nts ar
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to
www.aaah.org • 503-595-3517
Down Payment cont’d from pg 7
Here are some high-
lights from the report:
• Over half (63 percent)
of renters are confi-
dent that they will be
able to afford a home
someday, with 25 per-
cent planning on buy-
ing in the next three to
five years.
• Millennial renters are
more confident than
any other generation
that they will be able
to afford a home some-
day, with 34 percent
planning on buying
in three to five years.
Almost a quarter (22
percent) said they plan
to buy in one to two
years and 2 percent
of millennial renters
said they never plan on
buying a home.
• The majority of re-
spondents (66 percent)
believe owning a home
is necessary to live
The American Dream,
and 72 percent believe
owning a home in-
creases your standing
in the local community
– millennials believe
these two statements
more than any other
generation.
With home values
across the country at
their highest point since
June 2007, cobbling to-
gether a 20-percent down
payment on a home costs
more than two-thirds of
the U.S. median house-
hold annual incomev.
In pricier markets like
San Jose and Los Ange-
les, buyers must come
up with more than 180
percent of the median
annual income, making
a home purchase out of
reach for many aspiring
homeowners.
“With home values
close to record highs, it’s
no surprise renters are
concerned about coming
up with enough money
to buy a home,” said Zil-
low Chief Economist Dr.
Svenja Gudell. “Rising
rents are also a factor --
it’s extremely difficult to
save when you’re paying
record-high rents. While
it is possible to put down
as little as 3 percent on
a home, the trade-off is a
higher interest rate and
costly private mortgage
insurance, a financial
tradeoff that may make
sense for some buyers.
But with interest rates
rising in 2017, it’s import-
ant to remember that a
lower interest rate can
save buyers thousands
of dollars over the life
of their loan. For those
trying to save for a down
payment, it’s important
to set realistic goals and
realize it may take a few
years. Also, consider
working with a reputable
financial advisor to help
set a budget that works
for you.”
San Jose, San Diego
and Los Angeles had the
greatest share of renters
say affording the down
payment is the number
one barrier to owning, at
over 72 percent. Women
(72 percent) were more
likely than men (62 per-
cent) to select the down
payment as the top barri-
er to homeownership.
One-third of buyers
used more than one
source of funds for their
down payment, includ-
ing gifts and loans from
family, according to the
Zillow Group Report
on Consumer Housing
Trendsvi. Over half of
buyers saved by setting
aside a little money at a
time.
Mortgage rates on Zil-
low ended the month of
March at 3.94 percent,
down from a high of 4.13
percent in the middle of
the month. Home shop-
pers can use the Zillow
Affordability
Calcula-
tor to see how varying
loan amounts and down
payments will impact
monthly payments and
the lifetime balance of
their mortgage.
NEWBERG
NEWBERG
Now accepting applica-
tions for federally funded
62 years of age or old-
er, disabled regardless
of age, housing. Clean,
comfortable and conve-
nient. Close to shopping
and medical facilities. Pet
friendly. Non-smoking.
Now accepting applica-
tions for federally funded
low income family and
senior housing project.
Clean, comfortable and
convenient. Close to
shopping and medical
facilities. Pet friendly! No
smoking.
1 bdrm: $474-523
2 bdrm: $624-779
1 bdrm: $460-599
2 bdrm: $567-719
3 bdrm: $627-862
Rents shown are base
rents. Actual rent based
on income.
Rents shown are base.
Rent based on income.
Newberg Village Apts
1209 N. Springbook
Deborah Court Apts
1412 N Deborah Road
Contact
management
office for details. Office
hours: Mon-Fri: 10am-
3pm. 503-538-8825. TTY
800-735-2900
Contact
management
office for details. Office
hours: Mon-Fri: 10am-
3pm. 503-538-8825. TTY
800-735-2900
This instituion is an equal
opportunity provider pro-
fessionally managed by
Viridian Management.
This instituion is an equal
opportunity provider pro-
fessionally managed by
Viridian Management.