Apartment Choice

Opponents have organized against an effort to rein in rent increases in Maine’s largest city. A group calling itself Say No To Rent Control announced its formal opposition Tuesday to Fair Rent Portland ‘s initiative to adopt a rent stabilization ordinance by referendum in November. The announcement sets the stage for a vigorous fall campaign , which comes as longtime residents and low- wage renters worry that a steep rise in rents and the influx of luxury housing is leading to gentrification and a growing affordability gap between incomes and housing costs. The new group is casting the referendum effort as a rent control ordinance that would harm the city’s housing market, although the supporters say the plan meets the definition of modern rent stabilization efforts that have been successful in other states. Among other things, Fair Rent Portland ’s initiative would limit rent increases to the rate of inflation for landlords who own five or more apartments and establish a Rent...

(Photo: NEWS CENTER) PORTLAND, Maine (NEWS CENTER) -- In the midst of a struggle to get a rent control ordinance on the November ballot in Portland, a new group has emerged to tell voters why its a bad idea. "Say no to rent control" says locking down a rent price might sounds like a great idea, but it can have serious consequences. The group is composed of landlords, contractors and others who say the proposed initiative is reckless and extreme. They say housing policy is complicated, and should not be decided by referendum. ► Overall, Maine housing is considered 'unaffordable' The group Fair Rent Portland , which brought forth a rent stabilization initiative intended for the November ballot, says the initiative is modeled after West Hollywood, California and Takoma Park, Maryland. Those ordinances have been in place for 30 years. Fair Rent Portland says both cities were able to relieve the housing crisis while supporting long term development .   (Photo: NEWS C...

Coast to coast, the housing industry currently favors the home seller as prices are rising, sales surging and inventories dwindling -- which leave the residences on the market more valuable. Take Seattle as a caffeinated example. The northwest city of 3. 5 million people boasts the hottest housing market in the country since last fall, according to the Case- Shiller home price index and reported this summer in the Seattle Times. The typical single-family house in metro Seattle cost 12 .9 percent more in April than a year ago, the report notes. Other fast-rising markets are Portland, Oregon; Dallas; Denver; and Detroit, up 9.3 to 7.4 percent respectively. Those totals compare with a 5. 5 percent national price growth rate . What's good for owners and well-off buyers can be doubly troubling for at least one group: lower income property shoppers including first-time homebuyers who can't afford average and midpoint home prices or apartment rents . According to studies, the na...