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Not leaseholds, but they are building several "mini" homes throughout the states and renting them out for $500 a month. Aimed primarily at the homeless population.
My family bought strictly fee simple. My Dad refused to do the leasehold thing even when it added double to a home price back in the day. Glad he did but it's still a fact that land use over-regulation is a major contributor to the affordable housing shortage problem here...
My family bought strictly fee simple. My Dad refused to do the leasehold thing even when it added double to a home price back in the day. Glad he did but it's still a fact that land use over-regulation is a major contributor to the affordable housing shortage problem here...
Supply and Demand. Their is a strong demand on the part of people with $$$. Ergo, price goes up. Over regulation will contribute to a limited supply, but there are a lot of $$$ looking for property.
It is inescapable and can't be "fixed" (as it isn't actually broken). Limited supply and well-heeled demand result in the inevitable increase in property value, and that's as it should be. Those of limited means need not apply, but, rather, look elsewhere.
The problem is the soft attitude of people in our legislature. Maybe because of the culture of Hawaii being so aloof. They need to pass agressive laws with MASSIVE tax on 2nd homes, developers, and rental properties, therefore turn off rich people and investors from buying everything up and pushing up home values.
Granted that people will continue to move to Hawaii but it should at least slow things down a little. They've been too soft on developers who hide under the guise of providing more homes for people. Affordable housing credit law hasn't worked. It is straight up dumb to base pricing of affordable housing on market valuation, it should be opposite, based on salaries. A $400,000 2-bedroom apt isn't affordable for a household income of maximum $75,000. Stricter laws will set precedence, and somehow some way the rich and and developer will still end up buying up homes and developing high rises, even if they pay massive taxes and make smaller profits, then there are more options for tax breaks and monies for the government to help out regular people.
Complete incompetence. And for my personal situation it is EXTREMELY beneficial that home prices are skyrocketing, the faster values go up the better to eventually sell my family home and rake in the profits. So I'm not being biased about this.
Last edited by mov3_f0w4rd; 04-15-2022 at 03:33 PM..
that's as it should be. Those of limited means need not apply, but, rather, look elsewhere.
So basically all the 4th, 5th, 6th, and future born and raised Kamaaina who can't afford $1 million dollar homes can p*ss off? Thats the Aloha spirit......Reeks of negative mainland attitude.
Last edited by mov3_f0w4rd; 04-15-2022 at 04:09 PM..
So basically all the 4th, 5th, 6th, and future born and raised Kamaaina who can't afford $1 million dollar homes can p*ss off? Thats the Aloha spirit......
That should be the group who can easily afford it the most.
That should be the group who can easily afford it the most.
Why is that? They are no different than a transplant. Being genrational doesn't mean they have money or assume their parents and grandparents have money to give the next. I know some who do and even some that inherited their grandparents house. But clearly housing is a problem, so these examples are a rarity than the norm.
So basically all the 4th, 5th, 6th, and future born and raised Kamaaina who can't afford $1 million dollar homes can p*ss off? Thats the Aloha spirit......Reeks of negative mainland attitude.
It's the way of life, well, at least for adults. $$ talks, always has, always will.
The problem is the soft attitude of people in our legislature. Maybe because of the culture of Hawaii being so aloof. They need to pass agressive laws with MASSIVE tax on 2nd homes, developers, and rental properties, therefore turn off rich people and investors from buying everything up and pushing up home values.
Granted that people will continue to move to Hawaii but it should at least slow things down a little. They've been too soft on developers who hide under the guise of providing more homes for people. Affordable housing credit law hasn't worked. It is straight up dumb to base pricing of affordable housing on market valuation, it should be opposite, based on salaries. A $400,000 2-bedroom apt isn't affordable for a household income of maximum $75,000. Stricter laws will set precedence, and somehow some way the rich and and developer will still end up buying up homes and developing high rises, even if they pay massive taxes and make smaller profits, then there are more options for tax breaks and monies for the government to help out regular people.
Complete incompetence. And for my personal situation it is EXTREMELY beneficial that home prices are skyrocketing, the faster values go up the better to eventually sell my family home and rake in the profits. So I'm not being biased about this.
You ideas if put into action would fail and likely make things worse.
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