Came across this great article at Oregon Live about accidental landlords. The U.S. housing slump has created some interesting opportunities for homeowners, as many are turning For Sale signs into For Rent Signs.
The piece talks about a couple who were intent on selling their home, but couldn’t get enough to pay off the mortgage. U.S. housing prices are at their lowest point since 2005 in Oregon, but interestingly, at the tail end of 2011, the census bureau pegged the greater Portland area’s vacancy rate at just 2.9% while the national average in the U.S. hovered at around 9.4%. At the end of 2012, that vacancy rate rose a bit, but so did rents in the area.
The Oregonian also had a similar piece in October of last year further elaborating on falling vacancies and rising rents. You can check that out here.
Are you a landlord in Oregon? How are you finding it? Share you stories with us.