There are plenty of houses in ME, but 15-20% are owned as second homes and a good chunk more are bought up and rented out or are flipped and unaffordable to the average Mainer. The issue isn't supply and demand- though it still plays a role- the housing market is nearly divorced from market fundamentals and operates as an almost purely speculative market which serves a geographically fluid elite willing to cyclically uproot themselves in order to colonize new markets.
deliciousout9 t1_j2eawn7 wrote
Reply to Apparently Maine has an adequate supply of houses. by kubabooba
There are plenty of houses in ME, but 15-20% are owned as second homes and a good chunk more are bought up and rented out or are flipped and unaffordable to the average Mainer. The issue isn't supply and demand- though it still plays a role- the housing market is nearly divorced from market fundamentals and operates as an almost purely speculative market which serves a geographically fluid elite willing to cyclically uproot themselves in order to colonize new markets.