Homeowners turn to renting as prices remain low

As Portland-area home prices remain near their lowest point since 2005, many homeowners are renting out their old houses instead of selling.

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As Portland-area home prices remain near their lowest point since 2005, many homeowners are renting out their old houses instead of selling.

And to be sure, it’s a better time to be a landlord than to be selling a home. With the Portland-area rental vacancy near zero (the Census Bureau put it at 2.9 percent at the end of last year compared with 9.4 percent nationwide) rents are on the rise, and it’s not difficult to get a tenant in place. 

The Rental Housing Association of Greater Portland, which mostly represents small-scale landlords, says sales of its starter kits for first-time rental owners have grown 60 percent since 2007. It increased the number of landlord classes it holds, and the classes are still full.

Read more at OregonLive.com.

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