Thoughts on continued growth for Portland; and threats to Maine economy (aging work force, GOP healthplan, etc.) (condos, crime)

[New place]

I am trying to evaluate if Portland is a good place to move for both the long and short-term. The housing market is very hot right now and there is low unemployment. Do people think these trends are sustainable over the next five to ten years? I also mention threats to the economy like the aging population (curtails labor force) and GOP health plan since a cut back on Medicaid would be particularly hard on Maine with the oldest population in the country. Any and all thoughts! Thanks!

[Vance Mack]

Might not change a whole lot. Once you get north of Cumberland and York counties good jobs become more and more scarce.
Most of the people buying up the stupid expensive condos being developed in Portland are wealthy people from away buying a second or third summer home.

[New place]

Thanks Vance Mack - trying to evaluate if Portland growth will continue and if in buying a house now will still see appreciation. And that would depend on demand and continued appeal of area for companies and business growth.

[Northern Maine Land Man]

" The housing market is very hot right now and there is low unemployment. Do people think these trends are sustainable over the next five to ten years?"

The trends are certainly sustainable for the next four years. It's anybody's guess after that.

[0nyxStation]

Honestly I think its a really good thing that Portland is growing. Nothing wrong with growth.

[New place]

Agreed - I was just wondering what is driving the growth and if those factors will continue. I keep reading about the aging population in Maine and how that will constrain growth. As a person who is going to have to work for the next 20 years (and I am in my 50's) - and having a home purchase be my largest investment - I am interested in long-term growth and employment.

[Northern Maine Land Man]

You need to look closer at the aging demographic. Our population emigrates from Maine at age 25 and the same folks return at age 55. They have children in other states and when the parents become empty nesters they come home. Their children get getter educations for the most part. Test results are available on line for all Maine public school districts. You can find good schools, but it takes work. Don't just roll the dice. When you find bargain homes look at the school district. We left Maine in 1976 and came home in 1983 after my older son graduated from high school. He was #3 in a class of 164. My younger son wanted to join the math team here. The would not let him join because he had not been through the grade 9 and 10 math classes here.

Then he took the PSAT and got the highest math score ever in this school. They let him join the math team. They won the state championship. Both sons went to UMO as engineers. All populations age. The alternative is pretty gloomy. Look at the obits in the daily papers. Many of our elderly live into their 90s and we have a surprising number of centenarians inMaine. They could be the highest proportion in any state, but Portland is not the highest city. That record goes to Chicago where they have numerous voters on the rolls over 110 years old. They show up at the polls too.

If you are looking for economical housing and have no school age kids, look in the Portland area.

[New place]

Thanks Northern Maine Land Man,

I don't have kids - just two big rescue dogs. I am looking for a place to build a life. The weather is not ideal - but the politics and crime in a lot of the south leaves me cold (pun intended.) At this stage in my life it is about nice people, some culture and activity, employment (vs. a career like I have had) and finding friends. And it would be nice to retire there as well.

[90077]

Portland is more economically diverse and stable than most other areas of the state. It's a destination for many young Mainers seeking better opportunities than what their rural hometown offers. It also attracts out-of-staters looking for a kinder, gentler place to work and safely raise a family - or retire.

Cumberland and York counties will continue to grow. Buying reasonably-priced property in a good area of either county should serve you well.

Interesting article in the PPH last year. Comments by local readers add interesting perspective.

Maine's population growth still stagnant, new census numbers show - Portland Press Herald

[New place]

Thanks so much for the great infor 90077. You hit the nail on the head with "kinder, gentler place" since that is what I am trying to find - and it's hard to ascertain through data.