Estimated 168,000 households priced out of Portland area real estate market in just 6 months

Source: Oregon Live — 

Prospective homebuyers are rapidly being pushed out of the housing markets, largely by mortgage interest rates that have doubled in the past six months.

Numbers published Tuesday by the Oregon Office of Economic Analysis showed that surging mortgage rates and rapidly increasing home values have made homes unaffordable for a growing swath of the population.

Josh Lehner, a state economist, estimated that at least 168,000 Portland Metro households have been priced out of the market since December.