Nationally, you’d have to go back more than 50 years to find a more affordable time to buy a home in America. Locally, in Portland’s real estate market, you’d have to go back even farther. Affordability is an easy measurement. Basically, affordability is simply the percentage of a family’s income that goes towards a home mortgage payment. Nationally in 2010 14.2% of people’s income went to pay their home mortgage. In 2011 that percentage shrunk even farther to 13%.
In the Portland real estate market the numbers are even better: 13.9% in 2010 and a huge drop in 2011, all the way down to 11.4%. It might be a good idea to talk to your local Portland real estate agent today! Especially considering it is now cheaper to own a home than to rent in Portland, Oregon.
Need Portland real estate help?
Contact Stephen FitzMaurice, Portland Realtor
503-714-1111
Stephen FitzMaurice, Realtor is a top 5% real estate agent in the U.S. A Principal Broker in Oregon, Managing Broker in Washington, he has been licensed since 2003 for residential real estate sales. Call his team in Oregon at 503-714-1111 or in Washington at 360-345-3833.
