Oregon Helps First-Time Home Buyers
Home prices are getting so high, it's becoming harder for people to afford buying their first homes. So the state of Oregon is stepping in with its First-Time Home Buyer Savings Account, effective at the beginning of this year.
Participants can have money taken out of their paychecks--up to $5,000 a year for individuals and $10,000 for couples--to save for down payments and other housing costs. And it's not strictly limited just to first-timers. Rich Hoover from the Oregon Department of Revenue explains how it works.