Recent comments in /f/Maine

thornify t1_j6ykfxl wrote

A big part of the reason banks are more conservative than landlords is because it takes about two months to evict a tenant, and about 18 months to foreclose on a borrower.

Landlords and lenders are not weighing the same risk, at all.

So it's not entirely fair to suggest that banks are saying renters "can't" afford a mortgage payment lower than their rent payment. It's more like, "as a lender, I am not willing to bet 18 months worth of payments, plus all the costs and hassle of a foreclosure, that you will be able to make this payment."

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baxterstate t1_j6yjqhx wrote

I have said this very same thing.

There's not only not enough housing, there's not enough multifamily housing.

Multi family housing is the easiest way that a first time buyer can qualify for a house.

Build more multifamily housing and you also get more apartments which will lead to a stabilization of rents, and a decrease in the rental value of apartments that are not well maintained.

With regards to to NIMBYism, reporters need to start showing up at town meetings and city council meetings and publicly shame NIMBYists.

The Governor could start the ball rolling with a carrot; more state funds to cities and towns that provide zoning ONLY for 2-3 family homes on 5000-10000 sf lots.

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