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Nowhere_X_Anywhere t1_j88qvui wrote

Reply to comment by gingerbreadguy in Maintain the integrity of our town! Preserve Freeport’s charming and historic parking lots! by bitesandcats

If are median incomes can support rentals in the 1k-1.7k range and developer builds apartments targeting a market range of 3.5k-4.5k how exactly does that improve affordability?

You are trying to pretend:

  1. Developers are ignorant to the concept of market saturation (developing pacing or out pacing demand)

  2. Developers are actually interested in developing at a rate that puts the prospect of ever increasing rents rates at risk

  3. Maine has housing demand that is stagnant of can be outpaced by development.

All three are fallacies, born out by decades of data.

I'm ambivalent to this development as we are already talking about a tourist trap developed town.

No this development will not have any downward pressure effect on area rents. Full stop. Quick ignoring facts and readily available data to try and imply otherwise.

These are apartments for higher income out of state workers, at best. More likely these will be long term rentals for higher income snowbirds, wanting to maintain their FL residency to live in the summer, and leave vacant in the winter.

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