Squeezed Home Market Also Fueling Rise in Building Permits

Peter Van Allen

Source

Mainebiz

Date

7-26-2021

Pages

24-25

Abstract

Maine's housing shortage and record high home prices are causing a spike in the number building permits for new construction. 2,697 permits were issued in the first five months of 2021. The pandemic is a factor behind the increase. The article examines how Maine's housing market compares with other states and looks at some of the challenges, including interest rates, supply chain, and a shortage of construction workers, that might impact the building boom.

Subjects

Construction industry, Housing

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