Portland, ME On January 18, more than 700 from one of Maine’s most economically powerful industries will gather for MEREDA’s annual Forecast Conference.
“According to the U.S. Bureau of Economic Analysis’ most recent annual figures, real estate is the second most important driver of Maine’s GDP, behind only healthcare. The Maine Real Estate & Development Association (MEREDA) will gather to hone in on the health of the industry, hearing from more than two dozen industry leaders,” said Paul Peck, president of the board at MEREDA, an attorney at Drummond & Drummond, and the principal developer at LWS Development.
Members of the industry, including builders, developers, brokers, attorneys, architects, engineers, municipal leaders, and retailers or others managing large swaths of real estate are welcome to attend.
According to Shelly Clark, MEREDA’s VP of operations, the conference will be held at the Holiday Inn By the Bay from 9 a.m. to 5 p.m.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.