A lawsuit filed by a Maryland real-estate firm and a Baltimore developer could alter the state’s property market, analysts said.
The suit, filed in Maryland Superior Court, argues that a proposed development would adversely impact the state economy and cause residents to be priced out of the property-rich Maryland market.
The Maryland Supreme Court has yet to rule on the case, and the state has said it will not participate in the case.
A Maryland realty firm has said that the lawsuit is without merit.
The company’s lawsuit seeks to prevent developers from expanding in the state, arguing that the proposed development could result in the displacement of thousands of low-income residents.