New housing starts plummet in southern Maine
The number of new homes built this year in southern Maine has plunged to the lowest level since at least 1991, according to new figures.
Builders took out 841 permits between January and Nov. 15 in the 38 municipalities tracked by Construction Data New England, the Portland Press Herald reported. That's down from 2,327 during the same period in 2000, a banner year for homebuilding in the region, according to figures compiled for the paper by the Windham-based firm.
The paper's analysis showed the most dramatic drop in Portland's western suburbs, including Bridgton and Westbrook, where housing starts fell 63% from the same period in 2004.
Nationwide, housing starts plummeted to a 50-year low in October, according to the U.S. Commerce Department. The country's economic slump, tight credit and a glut of foreclosed and unsold homes on the market have added to the sharp decline in new construction.
Mainebiz web partners
Most Recent
Most Recent
Comments