We all know that the cost of living in the United States has been going up and up and up now for several decades. Obviously, that includes rent prices. All of this has happened while statistics traditionally reveal that wages are not keeping up.
For the first time, one state has taken action to contain the prices for housing, which has spiraled out of control.
Indeed, Oregon has seen rent rates increase by over 14 percent in recent years. It is especially bad in the largest city in the state, Portland, where rents have increased a whopping 30 percent in less than a decade.
Lawmakers felt it was time for action.
In explaining this measure, Oregon Governor Kate Brown issued a statement yesterday. Here is part of her statement:
“There is no single solution — not one entity, or one person — that can solve Oregon’s housing crisis.
“This new legislation is one of many actions Oregon needs to take to address our housing crisis. While it will provide some immediate relief, we need to focus on building supply in order to address Oregon’s housing challenges for the long term.”
Here is the link to this story:
Oregon to Become First State to Impose Statewide Rent Control by Mihir Zaveri Feb. 26, 2019:
https://www.nytimes.com/2019/02/26/us/oregon-rent-control.html?smid=fb-nytimes&smtyp=cur&fbclid=IwAR36jY53NS1FEzHmj2ikcUiCC551X-wL9tBJQ416vh9gh70dd344IrOkk24
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