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flag Maine's housing affordability crisis worsens as home prices surge far faster than incomes, despite increased construction and lending.

flag A new report by MaineHousing reveals that housing affordability remains a critical issue in Maine, with the income needed to afford a median home rising 187% from 2015 to 2024—far outpacing the 44% increase in median income. flag Despite record construction of affordable rental units and a rise in first-time homebuyer loans, rising home prices and construction costs continue to strain residents. flag Homelessness has stabilized, but shelter stays have lengthened, and nonprofit providers face financial challenges. flag Officials stress the need for sustained investment and policy reforms to address the ongoing housing crisis.

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