Despite pervasive ‘supply skepticism,’ the evidence suggests the answer is yes: As the number of homes grows in an area, prices tend to fall and lower-cost units get freed up. But advocates say it takes time – and there are many hurdles.
Business
Local, state and national business news from the Sun Journal.
Posted inBusiness
Maine Trust for Local News wins New England First Amendment, Publick Occurrences awards
NENPA judges said “we applaud the newspapers’ persistent efforts to learn and report what happened, what failings may have occurred, and what, if anything, can be done to prevent another tragedy.”
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Posted inBusiness, News
Brazil drought punishes coffee farms and threatens to push prices even higher
Potential supply shortages are plaguing the world’s largest coffee producer as well as the second-biggest – Vietnam.
Posted inBusiness, News
Wall Street closes its record-setting week mixed
FedEx drags markets down as stocks drift around their all-time highs and close on a quieter note.
Posted inBusiness, News
U.S. awards $3 billion for EV battery production in 14 states
The effort is part of the Biden administration’s continuing push to reduce China’s global dominance in the sector.
Posted inBusiness, Maine, News
UMaine System lays off 13 IT employees, reassigns dozens more
The layoffs are part of a broader restructuring of the system-wide IT department, Chief Information Officer Robert Placido told workers Friday afternoon in an email obtained by the Press Herald.
Posted inBusiness
Harvest time at WillowsAwake Winery in Leeds accelerates with warm, dry spell
Owner Tony Lyons and winemaker Lindsay Benson are looking to harvest a bumper crop at the Central Maine vineyard.
Posted inBusiness, News
After one week, no end in sight for strike by Boeing factory workers
The aircraft manufacturer has started rolling furloughs of nonunion employees to conserve cash.
Posted inBusiness, Maine, News
Construction to begin in Unity on Maine’s first halal slaughterhouse
Hussam Al Rawi and his wife, Kathryn Piper, opened Five Pillars Butchery, a halal meat processing business in 2017, after moving to Maine the previous year. The couple were awarded nearly $3 million in federal grants earlier this year to add a slaughterhouse to the butchery at 119 Bangor Road.
Posted inBusiness, News
Maine home sales rose slightly in August
Mortgage rates dropped in anticipation of the Federal Reserve’s first rate cut in more than 4 years, meaning buyers who were priced out may start house hunting again.