The City of Portland has been making efforts to try to ease the pressure on home buyers and lift the real estate market out of what city officials have called a “housing crisis.” On Wednesday, the City Council passed a 1% construction excise tax that will help fund affordable housing projects around town. Many are wondering how this tax will affect homeowners and those who are still on the hunt for property.

“Any additional costs for construction … will be passed on to the consumer via higher prices, which, in turn, pushes the prices of homes in Portland further out of the reach of many,” says Nick Krautter, Portland Realtor.

Read the full article here: http://www.forbes.com/sites/kimslowey/2016/06/30/portland-passes-1-construction-excise-tax-to-help-ease-affordable-housing-crunch/#78c3351f76ce