A new report released this week by MaineHousing is meant to help both key policymakers and Maine citizens better understand the state of affordable housing development in Maine as we head into 2023.
The MaineHousing Outlook Report 2023, conceived by MaineHousing's Board of Commissioner's Chairman Frank O'Hara and produced by the agency's staff includes several key metrics and analysis from 2022 in an attempt to forecast which factors will help and or hurt affordable housing development in 2023.
From rising interest rates, to skyrocketing energy costs to an ongoing shortage of skilled construction labor and lingering supply chain kinks, the report details many of the issues that held back housing development and put renters, homeowners and housing developers under increasing financial hardships.
The report also highlights what MaineHousing did in 2022 to help thousands of Maine people remain safely and comfortably housed while highlighting ongoing or new programs that will continue to aid Maine homeowners and renters in 2023.
"By focusing on some key housing metrics and data points along with taking a solid inventory of what was achieved in 2022 we are able to build a better roadmap for where we want to go in 2023 as we work to preserve and increase affordable housing options for our fellow Mainers," said MaineHousing Director Daniel Brennan.
O'Hara said he was pleased with the content of the report and while not all analysts will agree with the full forecast in the outlook, the details will be helpful as he and others consider their approach to affordable housing development in Maine in 2023.
"Like checking the weather forecast before heading out on a long road trip in Maine, this report lets us prepare for both the best and the worst of what might be on the housing horizon in 2023," O'Hara said.
A full copy of the report, which will also be presented to the Maine Legislature, along with a full list of housing and housing-related programs meant to help Maine people can be found on MaineHousing’s website at: www.mainehousing.org