Outlook

Scenarios

Predictable Changes: That which we can plan for an address

Advances in technology
- Building and design of housing
- Energy efficiencies
- Information technology
Consumer/customer preferences
- Where to live
- Own or rent
- Stay at home
- Smaller, more energy efficient homes
Changing business practices
Changing workforce expectations

Unpredictable Changes

Uncertainty around federal and state funding and
tax codes
Financial markets and mortgage interest rates
Availability of workers in the construction
industry, housing-related services, and public
service

Trends
MaineHousing routinely monitors external trends and has identified the following as having the greatest impact on future housing needs:

Maine’s population will not grow and will continue to age.
Maine’s population has changed very little recently in terms of diversity.
Maine’s economy is improving slowly and will continue to do so. That growth will continue to boost Maine’s slowly improving housing market, but not in all parts of the State.
Housing demand will be greatest in service centers located along the interstate and its feeder roads.
Housing and services will be required to meet the needs of a more mobile as well as aging populations.
Slower income growth for renter households will continue to make renting less affordable for them.
The number of homeless people in Maine has declined.
Maine’s rank among the states with old housing stock has dropped; we now rank 8th.
Maine’s energy costs will be driven by the cost of fossil fuels.
Changing technology will be increasingly essential for accessing services by Maine residents.
Future public investment in continuing, expanding, or creating housing programs is uncertain.