The number of people renting homes is as high as its ever been in Portland, but the improving economy might mean a shift in buying over renting.
Over the past decade many people have decided to rent rather than own their home.
The reasons are many: The great recession saw a big jump in home foreclosures and a reluctance among banks to make mortgage loans. A bad economy meant many young people couldn’t find money for a down payment. Finally, there was a shift in tastes, where people wanted to live downtown in multifamily units, rather than in the suburbs.
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