By Jenelle Etzel, February 19, 2026
In this episode of the Open House Podcast, we dive into a timely and nuanced conversation about House Bill 4136 and what it could mean for housing access in Oregon. At its core, HB 4136 is focused on equity.
So what problem is the bill trying to solve?
As Chris Bonner explains, HB 4136 addresses what many see as the most inequitable part of the mortgage interest deduction: the tax subsidy for owning a vacation home. During a time when housing inventory is tight and many would-be buyers are struggling to save for a down payment, the bill proposes redirecting funds currently written off by vacation homeowners into a permanent down payment assistance fund through Oregon Housing and Community Services.
The heart of this conversation is access.
First Time Homebuyers
We know there are homebuyers sitting on the sidelines. Not because they lack the desire to own, but because they cannot bridge the gap of a down payment. HB 4136 seeks to reallocate a relatively small portion of state tax revenue to create a reliable, ongoing funding source for first-time buyers who need that initial boost.
As real estate professionals, this discussion is not abstract. It touches the oath we take and the values we hold. Expanding access to homeownership is not just policy. It is generational stability, wealth-building, and creating a pathway for people to start somewhere.
This episode also unpacks common concerns. The bill is narrowly written. It does not eliminate the mortgage interest deduction for primary residences, rental properties, or homes that are partially rented. It focuses specifically on single-use vacation homes at the state level. The goal is not punishment. The goal is redistribution toward opportunity.
At Living Room Realty, conversations like this matter. Housing policy shapes the market we work in every day. More importantly, it shapes who gets to participate in that market.
If you care about housing access, first-time buyers, and the long-term health of our communities, this episode is worth your time.
Listen to this episode of Open House and join the conversation about HB 4136, equity, and what it means to truly expand the doorway to homeownership.
Jenelle Etzel
President & Owner, Licensed Broker OR
She/Her
What does being lead singer and guitar player in a female punk band have in common with starting a real estate company in the middle of a recession? Not many people can answer that question. But when you ask Jenelle Isaacson Etzel founder and CEO of Living Room Realty, there’s no hesitation; where most would see a chasm, she sees a bridge.
For Jenelle, it’s all been about finding a voice—the singular and irrepressible expression of self. Once a quiet, studious, high-school girl growing up in Portland, Jenelle started a punk band after college. She played guitar, wrote cathartic songs, performed, and traveled across country while living out of a van. All that seems light years from the present moment--owning a successful, growing company; serving on boards of civic and philanthropic organizations; enjoying family life with her two young daughters and long-time partner. Still, she uses the same voice now that began to emerge on stage years ago.
Whether it’s business or music, “It’s important to know what your voice is. If it’s true, it will resonate.” Jenelle’s voice, her truth, is about being brave enough to take action without apology, being heard without being exploited, to be energized, constantly problem-solving and refining her skills in the pursuit of building a purpose-driven company. All this requires risk-taking. She’s learned the hard way that she can’t fix everything and that not everyone will share her vision. But even as she explains the difficult choices she’s faced, Jenelle radiates joy.
“It’s never okay to play small,” she says with conviction. And this, more than anything, is what she strives to impart to other women, empowering them to pursue their passion whole-heartedly and to be leaders who speak with their own unique, unapologetic voice.
Living Room Realty, founded in 2009, offers residential, commercial, and property management services. Living Room ranks in the top 15 real estate companies in Oregon, with more than 110 affiliated broker-agents. For more information, visit www.livingroomre.com.
Noted Achievements: First west coast real estate office to receive B Corp status • Top Workplaces, 2014-2016 • 100 Best Workplaces in Oregon 2017 • 100 Best Green Companies 2017 • Oregon Business in Ethics Awards in 2014 • Jenelle has been featured in The Portland Monthly, Oregon Business, and REALTOR® Magazine • Portland Business Journal 40 under 40 Business Leaders • Board of Directors, Rock n Roll Camp for Girls, receiving 2015 award for creative philanthropy • Board Member, Entrepreneurs’ Organization Global Network, Portland chapter • Orchid Award recipient for Business and Civic Contributions • Guest speaker: OPB’s Think Out Loud, Investor Beat, Cascadia Green Building Council • Advocate speaking on behalf of Benefit Corporation legislation with Oregon Secretary of State, Kate Brown
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- jenelle@livingroomre.com
