The latest news of interest to multifamily housing investors in Oregon and Washington.
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Wednesday, December 7, 2016
State Audit Finds Oregon Housing and Community Services Suffers from Lack of Communication, Data Management, Written Policies
While it is no secret that rents and home values in Oregon have been rising sharply, a State audit of the Oregon Housing and Community Services (OHCS) department finds that the agency has not been effective at preserving or adding housing units. Despite using an award-winning system for collecting financial data on public housing projects until 2012, currently the data is woefully incomplete and inaccurate. Furthermore, despite state law requiring a housing plan, OHCS has failed to keep track of the need for or supply level of affordable housing. With many cities feeling the effects of a housing crunch and state and local leaders seeking to introduce new rules to solve affordability issues, the results of the audit are not likely to inspire confidence among Oregon residents. Read more.