Rising interest rates have made it more difficult for prospective new homebuyers to compete in a hot housing market, according to local realtors.
housing
Posted inMaine
Proposal to build 260 market-rate apartments in Augusta faces backlash from neighbors
The city’s Planning Board on Tuesday delayed the proposal to allow the developer to obtain needed permits and address concerns from neighbors about the large, five-building complex off Eight Rod Road.
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Posted inEditorials, Opinion
Our View: No-inspection sales highlight housing shortage
Years of a tight market have driven up prices and forced buyers into making risky choices.
Posted inBusiness, Maine
Many Portland area residents would need to double their income to afford a home
A new Harvard University report illustrates the growing affordability struggle for both homebuyers and renters across the country and in Maine.
Posted inTimes Record
‘Developers will flee’: Brunswick Council holds off on proposed development moratorium
The Brunswick Town Council postponed its vote on a proposed emergency housing development moratorium Tuesday after more than a dozen community members spoke out against the measure.
Posted inBusiness, Maine
Maine home sales activity is slowing down, but it’s not a buyer’s market yet
May was largely a continuation of existing trends, with home sales down 12% and prices up 15% from a year ago.
Posted inTimes Record
Tedford housing finishes land purchase for new homeless shelter
The nonprofit hopes to begin construction on its new 64-bed shelter next year and complete work in 2024.
Posted inBusiness, Maine
Rent cap comes as relief to tenants in Redbank Village
The move is designed to protect tenants at Redbank Village and other renters facing steep rent hikes because of the region’s housing affordability crisis.
Posted inMaine, News
South Portland council caps rent increases, passes eviction moratorium
The temporary emergency action in response to rent hikes at Redbank Village will give city councilors time to work on a rent stabilization ordinance.
Posted inMaine, News
South Portland Council to vote on emergency rent freeze, eviction moratorium
Triggered by recent rent hikes at Redbank Village, the six-month halt would give city officials time to develop a rent stabilization ordinance.