Experts: Hawaii housing affordability looks ‘bleak’
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- เผยแพร่เมื่อ 26 ก.ย. 2024
- UH economists release new data into state’s housing crisis.
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Hawaii needs to install a foreign ownership and empty house tax policy. And make it brutal. It's the only way prices are going to come down for locals. And stop building crappy mainland houses. It's Hawaii, not Phoenix !
They WANT locals out though, that’s why they don’t do anything about it. They want locals out so the more wealthy transplants from the states move in. Plus with more Hawaiians gone, there less people complaining when they destroy sacred historical sites for housing.
You people need to stop voting democrat!
Keep voting for more and higher taxes and see where that gets you.
You think you're vote counts
All Hawaii like high taxes because it protects against repeat offenders, a dirty environment, and responsible gun owners.
@@94villianvp96don’t vote kid, please.
@@_DB.COOPER 🤣
@@_DB.COOPER ok Peter pan! I guess your still living in never never land. you will still be crying no matter who u vote for!
YESTERDAY'S PRICE IS NOT TODAYS PRICE. PRICE FOR HOMES HOMES NOT GOING DOWN, AND RENT IS NOT GOING DOWN.
They needed “experts” to tell them what we’ve known for years 🤭?!?!
LOL…it’s a blue dem state what do you expect…
Biggest push ever to get rid of the locals going on now.
You people vote democrat, enjoy!
jones act, lack of superferry, no mobile homes, no tinyhomes...etc
how about developers being required to build from 25% to 50% affordable housing..this report left that out..NO WAY!
7% is not an extremely high rate, it’s normal. The housing market is in a bubble
This is not news. This has been going on for years. Reported on numerous times but nothing has been done or going to be done. I have given up on this state I once called my home.
Interest rates were high before in the late 80's-90's, as it was closer to double digits when I bought my property on Oahu. Since then the rates dropped lower than when I bought. Some factors for the rise might be Hawaii, like California & Florida are vacation and ideal living sunshine/water states. Good weather most of the year, blue water. It's envisioned as retirement life. Secondly, people in colder states with money, view it ideal getting away from cold weather, and with short term rentals, it could be used to make the owners money. The recent change on the STR by the Govenor & Mayor might ease up a little for the rental community but not for the buyers. If they do make it long term rental versus short term rental, in a residential neighborhood, it is adverse to the area residents for parking, garbage, noise.. In terms of property rates, the owners of the short term and long term rentals aren't paying really higher taxes, as they will pass it on to the renters and write it off as business expense. They will make a profit on it no matter what. If the locals who maintain & upgrade their property over time, the non-resident owners will sell at the rate of the last local seller in the area without necessarily making the property as good as the residents have done. If the residents have Ohana or multigenerational families, adding more rooms/baths to it, they make the property more valuable, than the offspring or some local buyers won't be able to swing the higher prices for the larger home. They sort of price other locals from getting the property. Maybe one solution might be for the designation of resident credit be for longer than six months, maybe eight months out of a year, and if over 65 years and eight months, then a higher credit as senior. Otherwise retirees from the mainland may still opt to buy/rent, claim the resident/senior credits for six months and still rent out as STR, as they are still making the STR pay for property tax/insurance and claim a tax credit. It seems it makes the young local families in a tougher situation. Now older locals, owning multiple properties claiming ownership, senior claim income generating, but they only are making income on renters STR who can afford to pay, which won't be the local resident families and sell to the highest bidder, who probably won't be young local residents. In a way, they are selling out the locals, just for themselves.
You’ve successfully explained exactly what’s going on that these “experts” are lying about and the “state” is refusing to fix. And that’s the problem. I think the “state” wants locals out and more wealthy transplants to move in, they especially want Hawaiians out so there’s less people who will complain and stop them when they want to bulldoze ancient sacred sites to develop.
There’s also the HUGE issue with house flippers who buy the “cheaper” fixer upper homes, renovate for very cheap and sell for nearly twice what they bought it for. Most if not all of these house flippers aren’t even from Hawai’i, aren’t local and they prioritize selling to people in the states by promoting and marketing homes there because it’s a quicker sale. House flipping takes locals out of the housing market because buying fixer uppers and renovating ourselves was the only way we had left to buy more affordable homes, because move in ready homes are more expensive and the “state” allows all these house flipping shows to film in Hawai’i, promoting it so more people do it.
Also, when you go to auctions now it’s essentially ALL investors, all you see is people in business attire on their phones with clients… you don’t see locals anymore because we get quickly outbid.
Thank you Fire Chief Brad Ventura and Police Chief Johnny Swat for making housing, job & vehicle shortage’s a reality. Without you two, our lives would be very different.
Notice how few firefighters actually sign up to fight fires nowadays? It’s more like showing up first and looking cute with their fancy boots
13%? feels like way more... plus they come and drive up the cost of the houses around them and mess it up for the locals. None of us can buy a home hardly
Every day, locals are leaving, and it will continue. What's inviting to stay with murders almost daily, increase in fentanyl overdoses and deaths , and rents have doubled . No one hires 40 hours per week because of mandatory minimum wage increases. Businesses closing , property tax increases, and state allows residents to be victims of price gouging and on top of that inflation. Property crime is everywhere. How are single parents and elderly on fixed incomes to survive ? Better to move than end up homeless like so many others . You get what you vote for .
Financial education is the key, there's no class from kindergarten through graduation on money but you're taught to be a good employee
Financial education will do crap all if u don’t make enough.
You are wrong. Pay yourself first.@@alaefarmestatesllc
@@alaefarmestatesllcfocus on family own homes would be best, and not pay Foreigner's rent.
@@alaefarmestatesllc spoken like someone with no financial education who is caught in the system and doesn't know how to take what they have and make it work for them, again education will teach you how
I’m sorry, the tourist industry and big pockets expect slaves that’s the problem, while they trash the
Aina
oh and be sure to shut down STVR...lol..brilliant!
I'd say its the high home prices not the interest rates.
-Haha, You ruined your State!
Haha your from a ruined country😂
housing costs in Orange County Ca. are higher than on Oahu
We are all built out on Oahu no where else to build. Some people call Las vegas the 9th island that's where people have to start going I guess.
Nobody talks about the military retirees who have unfair advantage with free VA healthcare and PX privileges. They’re also displacing locals.
Yes they are personally picking the locals up and shipping them out.
See what happens when foreign buyers come in and you allow them to buy property?
Every single time a new affordable housing project is announced, locals bitch and moan about it. So enjoy higher housing costs.
Locals complain because developers make 10 units in the 200 unit building “affordable” just so they can get their project pushed through fast (the state fast tracks permits for affordable housing), then they rent those 10 units on a one year lease as “affordable” & when that one year lease is up they don’t renew, but instead sell the unit at above market price, the same as the other 190 units in the building. They use the process as a scheme, it’s not really made for “affordable housing”, just a way to get their project up.
regulations/building permits/ use taxes are a huge cost of building houses, upwards of $120k for a single family home
Greed. Plain and simple. I hope those greedy landlords and home sellers always have vacancies.
State new to fix this problem
It's been a push since the American flag was placed
move the homeless off the island no chance for them.....
That’s illegal & a human rights violation.
Rich will get the land. The fire was the best thing for them to buy up the propertys.
Not for Oprah! And she still wants your money!
I can’t afford to live in Maui. Can someone give me a free ride?. = AFFORDABLE HOUSING.
People if you can't afford a house now, what makes you think you can afford one in the future. Stop complaining, just move.😊😊
Memphis Bleak.
I have Volunteering Carpentry Skills! 😊
Keep voting democrat.
They will, because "muh feelings"
Or you could vote for a Dictator. His words, not mine.
1/3rd !!!!!
This is what happens when you don't listen to Dave Ramsey, but you listen to Grant Cardone!
Compliments of Democrats
Bidenomics at work…..
Keep voting blue hawaii 👍
Face it Bub…..you have the highest number of leeches in the islands!!!
Greed
Same thing happening in Australia. Its a ponzi scheme.
Thank god I moved my family away.
How many houses get that just sit empty for most of the year ??
Does not matter owner then gets a tax write off .