This post—it’s by Michael Andersen, of housing advocacy coalition Portland for Everyone—starts with a pretty effective lede:
Every month, Portland’s most beloved neighborhoods are moving further beyond the reach of typical homebuyers.
Property tax records show the alarming spread, over the last four years, of homes valued at $400,000 or more — enough to make them unaffordable to 63 percent of Portlanders, according to the latest Census estimates. (Via.)
Andersen goes on to pitch what might be a partial solution: If Portland encouraged residential infill—particularly via the Residential Infill Project—then the city’s wealthy homeowners could, if they want, make room for the rest of us in duplexes, triplexes, and apartments that would be allowed on plots of land where one only one house is currently allowed.
The idea has its critics. As reported by OPB, the Residential Infill Project would also limit the maximum size of houses in residential zones—and a study found “that reducing the allowed maximum size of homes would make redeveloping homes less appealing to developers.”
An even bigger problem, though, might be that “if they want” part: Those who can afford to own houses in Portland’s current market are, pretty much by definition, rich. And rich people? Rich people aren’t great at sharing their neighborhoods. As in, they’re terrible at it. As in, they have to be forced to do it.
Still, Andersen’s post—and the Residential Infill Project—is worth considering, if only because it offers some shift from the status quo. (You can do so here and here.) Also worth considering: Everywhere not pictured on the above map. That’s where those of us who don’t own houses might be living in the next few years. I’m hoping to end up in Sherwood.
Gresham is the only affordable place to live on the east side, and it will probably also be to expensive for most people in the next few years once the San Franciscans and trust fund hipsters finish kicking everyone not like them out of Portland.
The way to really shake up the status quo is to stop subsidizing gentrification, which would also make Measure 97 unnecessary. Measure 50 froze many East/North home values at their assessed value in 1995, rock bottom for many, with only a 3% rise in value per year.
The basic premise was sound, predictable rises in taxation. But what measure 5 failed to do was to adjust the assessed value when the home was sold.
That has resulted in a $200-$600 per month property tax subsidy for homeowners in many East/North neighborhoods.
Shake up the status quo? Rewrite Measure 5 to readjust the assessed value based on sale price. Really shake it, readjust retroactively stepping in over 3 years.
And with Portland becoming SF, now is a good time to do it.
A charmless, 1 thousand square foot, 1 bath 1960’s ranch house, with a lousy layout (identical to mine), but with no garage 2 doors down from me is currently on the market for north of $400K after getting a new coat of paint and a new roof.
It’s disgusting. Measure 5 was stupid then, it’s stupid now.