The median sales price rose to $360,000 last year – and more than $500,000 in Cumberland County – as high demand and low inventory continue to squeeze the real estate market.
Hannah LaClaire
Staff Writer
Hannah LaClaire is a business reporter at the Portland Press Herald, covering Maine’s housing crisis, real estate and development, entrepreneurship, the state's cannabis industry and a little bit of everything else. Before joining the Press Herald in 2021, Hannah covered the town of Brunswick for The Times Record. In her free time, she enjoys reading, running and weekends up at camp. She lives in Springvale with her husband and daughter, their dog and two tuxedo cats.
Posted inBusiness, Local & State, News
With increased demand for home contractors in Maine, is the time right for licensing requirements?
Maine is one of just 15 states that does not require general contractors to be licensed. A bill in the Legislature seeks to change that, although past attempts have been unsuccessful.
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Posted inBusiness, Local & State, News
Maine’s adult-use cannabis sales continue to grow, but the market is getting crowded
Sales hit $217 million in 2023, a 36% increase over the previous year, although some store owners believe saturation will lead to the closure of some businesses.
Posted inBusiness, Local & State
Flooding’s on the rise in Maine, but just 1% of homeowners have insurance
Few Mainers have a policy that covers the kind of severe flooding seen in the Dec. 18 storm. As climate change brings more extreme weather events to the state, the impacts could be costly.
Posted inBusiness, Local & State, News
Maine’s minimum wage gets a lift
While the new statewide minimum wage is $14.15 an hour, up from $13.80 in 2023, Portland’s minimum wage is now $15 an hour, up from $14.
Posted inLocal & State, News
State announces online hub for flood relief; FEMA to assess damage
If FEMA decides the costs of damage from last week’s storm are beyond what the state can handle, Gov. Mills will formally request a Major Disaster Declaration from the federal government.
Posted inBusiness, Local & State, Schools and Education
Bowdoin College offering employees up to $50,000 in forgivable loans to buy homes
The program, believed to be the first of its kind in Maine, is part of a trend of employers considering big perks to attract and retain employees in a challenging housing market.
Posted inBusiness, Local & State, News
Maine real estate industry braces for changes to home sales commissions
A federal judge last month ruled that the National Association of Realtors and major brokerage firms conspired to keep commissions artificially high. It’s still unclear what will change as a result, but Maine agents fear it could hurt them, and buyers, too.
Posted inBusiness, Local & State, News
Death becomes her: The future of funeral home work is female
Nearly half of the country’s funeral directors say they plan to retire in the next five years, and there’s already a critical shortage of directors. Not everyone is comfortable making a living out of death – the job is emotionally taxing and requires long, often unpredictable hours.
Posted inBusiness, Local & State, News
Tag, you’re it: Cape Elizabeth natives develop app based on playground game
Lauren Steidl and Ian Andolsek, both 29, are among the founders of Integrated Reality Labs, the extended-reality gaming company behind the new game, called Slap.