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Maine's housing affordability crisis worsens as home prices surge far faster than incomes, despite increased construction and lending.
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.
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.
Homelessness has stabilized, but shelter stays have lengthened, and nonprofit providers face financial challenges.
Officials stress the need for sustained investment and policy reforms to address the ongoing housing crisis.
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La crisis de asequibilidad de la vivienda de Maine empeora a medida que los precios de las viviendas aumentan mucho más rápido que los ingresos, a pesar del aumento de la construcción y los préstamos.