As a young family that had long planned to purchase our first home this summer, we can relate to the couple highlighted in the Dec. 23 front-page article on the “juggernaut” of Maine home sales. We’ve been completely priced out of southern Maine, seemingly overnight.
Maine absolutely needs more people to move here. In-migration is necessary to sustain our workforce, grow our economy and contribute vibrancy and diversity to our communities.
That said, part of what makes Maine so desirable – in addition to its beauty, safety, and relative lack of traffic – is that home ownership is in reach for those of us who don’t make big-city salaries. Or at least it had been.
My concern is not just personal: I’m deeply worried about rising inequality in Maine. The median home price jumped tens of thousands of dollars in only a few months, with stiff housing competition among wealthy out-of-state buyers who can afford to pay in cash. Low interest rates don’t mean much when you can’t get a foot in the door, and if anything, have facilitated purchases of second (or third) homes among the rich and offered tremendous financial benefits to existing homeowners who refinance. As for everyone else?
Young families are being priced out of communities where they want to put down roots, long past the immediate impacts of the pandemic. I truly hope that the new remote workers have that same desire: to be a part of building and sustaining vibrant communities here in Maine.
Katherine Johnston
Gardiner
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