Oregon to Enact Statewide Rent Control

Phil Hall

Feb 27, 2019

Oregon is poised to make history as the first in the nation to offer a statewide rent control policy.

According to a report in The Oregonian, the Oregon House voted 35-25 on legislation that would cap annual rent increases to seven percent plus inflation throughout the state. The legislation exempts new construction for 15 years and subsidized rents, and landlords would be able to increase rents on their units without any cap if their renter tenants leave of their own accord. Gov. Kate Brown, a Democrat, is expected to sign the bill into law.

“This is not the rent control of yesteryear,” said Rep. Mark Meek, D-Clackamas County. “It’s a smart, innovative hybrid.”

The bill passed the House on a mostly party line vote, with three Democrats voting against it. Republican opposition to the bill argued that it would exacerbate the ongoing shortage of rental housing.

“With the growing cost of our property taxes, insurance and maintenance, the incentive to add rentals will decrease,” said Rep. Jack Zika, R-Redmond. “Why would anyone invest in a state if the Legislature is prone to tighten restrictions?”

Link copied

Published

Feb 27, 2019

People On The Move

MBA Appoints Rachel Kelley Legislative Affairs VP

Kelley's focus will be on Republican members in the House.

The Mortgage Bankers Association appointed Rachel Kelley as its vice president of legislative affairs, with a focus on advocating MBA's legislative and policy priorities on Capitol Hill, particularly among Republican members of the U.S. House of Representatives. Kelley bring...

Analysis and Data

Mortgage Applications Inch Up 0.3%

Despite a 50 basis point decline in rates over past six weeks, purchase activity remained approximately 20% lower than the previous year.

Mortgage applications saw a marginal uptick of 0.3% for the week ending Nov. 24, 2023, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The results, however, have been adjusted to account for the Thanksgiving holiday. The ...