Northeast Portland

Report: Average Black and Native American households priced out of Portland

Escalating housing prices are driving racial minorities and low-income people to Portland’s fringe, a new analysis of housing and income data shows. Only whites and married couples with children have median incomes high enough to withstand rising housing costs in most parts of town. That’s the news from the city’s first State of Housing in Portland report. The effort by the Portland Housing Bureau, submitted in a report to the Portland City Council last week, tracks Portland’s housing and rental markets alongside median earning data. The housing bureau used Census data to determine the median income of different ethnic groups, then looked at how different racial groups, nontraditional households like single mothers or seniors, and a range of income earners would fare if shopping for housing from one neighborhood to the next.

Julieth Buri waters flowers in front of the Portland house she and her husband, Justin, bought in 2014.

How cash sent the Portland home market spinning

Justin and Julieth Buri were about to lose. Again. This time it was a gold-colored bungalow, a 1,382-square-foot house on Northeast Fremont belonging to the estate of Veona Monroe, a church devotee and the matriarch of a large Portland family. It needed work, but they were smitten, if not optimistic. Justin Buri, by day an advocate for tenants, knew well the scarcity of Portland houses.

'For Sale' and 'Sold' signs are common in the Humboldt neighborhood of Portland.

26 investors who have way more house than you

There are 26 investors who purchased more than 10 homes for cash in the listed market in Multnomah County through the recession. The equity firms in the bunch were American Homes 4 Rent and Equity West Capital Partners. Equity West Capital Partners topped the activity list, followed by Dilusso Homes, run by real estate mogul Chris Baird, who has purchased more than 500 properties in California, Alabama and Oregon, at least 29 in Multnomah County for cash and more than 100 others in Multnomah County through a combination of cash and other means. Also high on the list were a trio of private investors: Pak Leong, Hongbo Li and Fuk Chan, who sometimes partner on deals. AAV One, owned by private investor Tina Lei, landed on the list as well, along with private companies Red Gap Holdings and JET Investments.