Chipping Away at the Towering Issue of Housing Affordability

This sample ADU unit, located in Ocean Park, Wash., is displayed on Consolidated Community CU’s flyer for its ADU loan program.

For many Americans, the housing system that’s currently in place, which should be designed to provide viable housing options for people of all income levels, flat out isn’t working.

During a recent interview, Larry Ellifritz, president/CEO of the $244 million Consolidated Community Credit Union in Portland, Ore., shared an anecdote that many parents with kids entering the workforce might relate to. He said his college-age son recently told him that after graduating and getting a job, he wouldn’t be able to afford living in Portland. “That was when it first hit home for me, that [affordable housing] is a problem,” Ellifritz said. The average monthly rent for an apartment in Portland (at an average size of 762 square feet) is $1,457, according to RentCafe.com.