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Are there many rich people, who are not originally from Maine, buying and developing houses on the Maine coastlines? If so, how do Mainers feel about this?
I have a friend who lives near the coast of Maine and says that this is an issue.
No more so than has been the case for the last 150 years. Maine's coastal communities went into serious decline with the advent of steam power for shipping in the mid-1800s. After the Civil War, the rising middle and upper classes discovered the concept of domestic vacations in small towns and countrysides away from the dirty air, disease, summer heat, and crowds of the large cities. Kennebunk and Kennebunkport, for example, were "discovered" by Philadelphia's upper class in the 1880s, and they almost singlehandedly jumpstarted the Colonial Revivial movement while preserving the towns' grand old homes as new-styled "summer places."
So there's a long history of rich summercators coming in and buying up local homes to use as summer places. I don't think it's any more or less controversial now than it was in the 1970s or the 1920s.
No more so than has been the case for the last 150 years.
Perhaps down below the Penobscot. But Down East, this is a present significant case, AFAICS.
Over here, they're breaking records with tourism. In Lubec, something like 40% of the houses are vacant (abandoned or for sale). I'm sure the case is the same, if not worse in Whiting, Pembroke, Dennysville, Cutler, etc. It's becoming "silver", and lots of tourists are staking claims on a whim. I've talked to a few, and I don't talk to a whole lot of people. Many seem to be from other areas of New England who want to escape high taxes, high cost of living, and hustle and bustle (CT and MA notably). The land prices in Washington County are some of the cheapest on the whole east coast, if I recall correctly. And some of the most undeveloped land on the eastern seaboard, that's for sure.
It is definitely an issue of contention all over coastal Maine, but moreso a modern thing up here rather than antiquated. "Rich outsiders" are a newer piece from Ellsworth east.
I'm not a native Mainer, but from what I hear there is a quiet disapproval, which is to be obviously expected. Someone who denies this is wholesale is fooling themselves. It's not a bad thing by any means and shouldn't be treated with a negative connotation - it's hard to see your friends and family move and pass away and they are replaced with strangers. Of course, most won't make it known but some will - just depends on who you talk to. If I was a local, I'd surely be partial bummed to see it. I can identify in some ways.
I know the tension and little resentment toward the new money from the less affluent Mainers .... even on the Maine forum. Recently someone came and posted a question about which school system would offer their child the best advantages and education....Falmouth or Cape Elizabeth. I am from away .... but I thought to myself....that is really a case of the 1% not understanding the lives of the 99%.
It is my impression that many or most of the people who drop in to the Maine Forum and who live in all the other regions of the state....don't really have that quandry....sort of "should I buy a BMW or a Lexus" type question.
It is like when Romney makes a faux pas about his wife's 2 caddys....or his friends owning NASCAR teams. Not everyone lives in the same economic world. It doesnt make anyone better or worse.....but it does call for awareness and respect.
I know the tension and little resentment toward the new money from the less affluent Mainers .... even on the Maine forum. Recently someone came and posted a question about which school system would offer their child the best advantages and education....Falmouth or Cape Elizabeth. I am from away .... but I thought to myself....that is really a case of the 1% not understanding the lives of the 99%.
It is my impression that many or most of the people who drop in to the Maine Forum and who live in all the other regions of the state....don't really have that quandry....sort of "should I buy a BMW or a Lexus" type question.
It is like when Romney makes a faux pas about his wife's 2 caddys....or his friends owning NASCAR teams. Not everyone lives in the same economic world. It doesnt make anyone better or worse.....but it does call for awareness and respect.
Hi Elston: I agree with your BMW vs. Lexus comparison. When I saw the post about Falmouth or Cape Elizabeth schools, I thought....be thankful that you can afford to live in either place and that your kids will be able to go to school anywhere in Maine...If they are so concerned about the education of their children, maybe they should investigate Maine School of Science and Math...some think that school offers educational advantages.
Last edited by mainegrl2011; 06-19-2012 at 08:03 PM..
If you are talking about the 1%, they have always been here. But remember what the 1% is defined as: you have to have a yearly income exceeding $850,000, and a net worth to be able to be given to your kids exceeding $10,000,000. This would be the Kennedys, Rockefellers, Martha Stewart, many movie actors, etc.
But property prices even in the ritzy areas of MDI, for example, are not too different than the average price for houses in the MId-Atlantic states. In fact, I know people who moved here from Philadelphia who sold their average house in the suburbs for $850,000(which they originally bought for 50K 30 years ago), and bought a a palace up here. These people would NOT be considered "rich" where they came from.
In fact even rural areas of the mid atlantic have house prices exceeding $300,000, and for that even in places like coastal areas of MDI, you can buy a pretty big house.
And these people would be driving suburus and ford focii.
So... it pretty much depends on what you mean by rich people. Rich people in one area are just average folk in another area.
slyfox2....I understand what you're saying about the term "rich" being relative; however, native Mainers couldn't care less about what people are paying for real estate in the Mid-Atlantic states. Maybe the people you mention who bought a "palace" in Maine got tired of being considered average folks....decided to seize the opportunity to become palace dwellers. By Maine standards, the people you mention who bought homes on MDI, are rich. Some of the people you list own or have owned "cottages" on MDI. Most native Mainers would not be able to afford to purchase any of the houses you mention. There are some who could...There are some (native) entrepreneurs who earned their money and may be in the 1% in Maine but certainly not 1% in the nation. Most people who can afford to buy homes on MDI didn't make their money in Maine. When a native Mainer reaches the point of having to sell land and/ or a home that has been in their family for 50-100 years because they can no longer afford to pay the taxes, it is a sad day. I doubt any Mainer would call the from away purchasers carpetbaggers, but would view them as such.
I did a little research and found the following: the average income in Washington County is around $35,000 a year and the median household income is around $26,000. The average household income is higher in Hancock County-- around $45,000; median household income $36,000. This is not a per capita income, but rather household income. I'm pretty sure Cape Elizabeth has the highest median household income in the state at $86,000 (per capita income $48,000). (I rounded off the numbers) Median household income for the entire state is $46,000. Maybe this information will help you understand why by Maine standards, the from away purchasers are "rich" and why there could be tension and resentment.
slyfox2....I understand what you're saying about the term "rich" being relative; however, native Mainers couldn't care less about what people are paying for real estate in the Mid-Atlantic states. Maybe the people you mention who bought a "palace" in Maine got tired of being considered average folks .... decided to seize the opportunity to become palace dwellers. By Maine standards, the people you mention who bought homes on MDI, are rich. Some of the people you list own or have owned "cottages" on MDI. Most native Mainers would not be able to afford to purchase any of the houses you mention.
I seem to recall that we have seen posters here, who had retired with pensions over $100k/year came to Maine and bought a cottage in MDI. So they could rub elbows with the Rockefellers and see how the lower class lives.
As a pensioner myself, I sometimes skim through the 'retirement' sub-forum here at City-Data. There seems to be a lot of folks retiring these days with large pensions, they think nothing of buying a retirement home for $3M, but seem uneasy about how to live such a frugal lifestyle.
Maine is an interesting mixture.
Quote:
... When a native Mainer reaches the point of having to sell land and/ or a home that has been in their family for 50-100 years because they can no longer afford to pay the taxes, it is a sad day.
I agree.
Quote:
... I did a little research and found the following: the average income in Washington County is around $35,000 a year and the median household income is around $26,000. The average household income is higher in Hancock County-- around $45,000; median household income $36,000. This is not a per capita income, but rather household income. I'm pretty sure Cape Elizabeth has the highest median household income in the state at $86,000 (per capita income $48,000). (I rounded off the numbers) Median household income for the entire state is $46,000. Maybe this information will help you understand why by Maine standards, the from away purchasers are "rich" and why there could be tension and resentment.
It does no good to hold resentment.
I choose the path that my life took me. I must learn to be content therein. [I had first written that with 'you's and 'us's; then changed it to 'I' statements]
Maine offers great beauty, nature, peacefulness; and the chance to live happy with a low Cost-Of-Living [COL].
Maine is a place where families are allowed to live life free from being entangled in the 'need' to earn $200+k/year. I have friends who are still entangled in lifestyles where any less than $100k/year would bankrupt them.
Our society has some extremely high COL areas; and we have a few areas where $20k/year is plenty to raise a family on. Whether your COL is high or whether it is low, which option gives a person stress and which gives the chance for happiness?
I did a little research and found the following: the average income in Washington County is around $35,000 a year and the median household income is around $26,000. The average household income is higher in Hancock County-- around $45,000; median household income $36,000. This is not a per capita income, but rather household income. I'm pretty sure Cape Elizabeth has the highest median household income in the state at $86,000 (per capita income $48,000). (I rounded off the numbers) Median household income for the entire state is $46,000. Maybe this information will help you understand why by Maine standards, the from away purchasers are "rich" and why there could be tension and resentment.
The same thing happens in NY. Western NY is much poorer than the Hudson Valley, NYC, and Long Island. Incomes up where I'm from are not much higher than Washington County; but down in LI they make $100k like peanuts...but pay for it in spades.
But property prices even in the ritzy areas of MDI, for example, are not too different than the average price for houses in the MId-Atlantic states.
That's why people from MA, FL, CT, NY, etc. move up here. You can make $100k on Long Island, make the rounds for 40-50 years, save up, and move up here to the lower COL with your higher historical wages.
For example: Mainer makes $35k a year for 50 years. Pays less for COL but it is offset by lower wages. NY'er makes $90k a year for 40 years. Pays high COL but not high enough to offset the wages almost 3x that of a Mainer.
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By Maine standards, the people you mention who bought homes on MDI, are rich. Some of the people you list own or have owned "cottages" on MDI. Most native Mainers would not be able to afford to purchase any of the houses you mention. There are some who could...There are some (native) entrepreneurs who earned their money and may be in the 1% in Maine but certainly not 1% in the nation. Most people who can afford to buy homes on MDI didn't make their money in Maine. When a native Mainer reaches the point of having to sell land and/ or a home that has been in their family for 50-100 years because they can no longer afford to pay the taxes, it is a sad day. I doubt any Mainer would call the from away purchasers carpetbaggers, but would view them as such.
