Monday, September 1, 2014

60 Years Ago: FHA Multifamily Veteran's Loan Program Produced 450k Units, 5k in Oregon Before Excess Profit Scandal.

60 years ago there was an lengthy congressional investigation of excess developer profits from a FHA multifamily program (Section 608) focused on developing rental housing for veterans. 

A cached summary of the background of that investigation  is HERE

One enduring consequence of the scandal was the addition of a requirement for cost certifications in FHA MF loan programs, a requirement now mirrored in many other rental housing development programs.

I thought it would be interesting to see how many units had been developed in Oregon under that program so I went to the FHA MF terminated mortgages database and extracted those projects in Oregon.  

The Excel workbook HERE, and embedded below, opens to a pivot table shows a count of Section 608 units by Oregon city. Other worksheets include all US S. 608 terminations and a state level pivot of that data.

Across the US more than 450,000 units were produced with this loan program with 5,154 units produced in 138 projects in Oregon, and 3,350 units in Portland alone. 

Originally created and posted on the Oregon Housing Blog

Saturday, August 30, 2014

Multnomah County's Marissa Madrigal Nominated by Governor to Oregon Housing Council.

Picked this up after looking at nominations posted on the new Portland news site for GoLocalPDX.

The new nominee is Marissa Madrigal, the Multnomah County Chief Operating Officer; she had previously acted as County Chair following the demise of Jeff Cogen. (I believe it is likely that Marissa would replace Jena Woooley, a long time member of the Council).

Originally created and posted on the Oregon Housing Blog.

Monday, August 25, 2014

Updated: 1990 Oregonian Blueprint for a Slum Series Revisited; At Least 4 Stories Now Update That Series.

Original series is on line HERE
Updated stories [now 4, could be more] are all located HERE. I was one source for updated stories. 
Prior text is struck through below.   

Three updates of that series are HERE, HERE, and HERE (I was one source for updated stories).

My prior blog posts that are related to this series are below
1989, Nehemiah program.
1990, First HOST development loan
1990, FHA/ US Bank first down payment assistance program. 

Originally created and posted on the Oregon Housing Blog.

Friday, August 22, 2014

Thursday, August 21, 2014

Tweet, New Census Data Out on Net Worth.

Originally created and posted on the Oregon Housing Blog