Renters left out of the loop
Andrew Gomes, Honolulu Advertiser, Oct. 10, 2004
My wife, our three kids and I are now living with my mother, in the same home I lived in as a teenager. Anywhere else in the U.S., this would be unusual, but in Hawaii, multigenerational households are unavoidable given the challenges that stand in the way of homeownership. I couldn't see myself paying well over $1,000 for a small apartment on a noisy Makiki street when not much more would be equal to a mortgage for a small home or mid-sized townhouse.
The order of the day right now is to save and clear debts. And when it's time to buy, I'm thinking of following Craig's excellent example and putting down roots on the Big Island.
At this rate, it's either that or someplace on the Mainland. Paying nearly half-a-million bucks for only a simple home in Ewa is just insane.
Andrew Gomes, Honolulu Advertiser, Oct. 10, 2004
Each time home prices ratchet higher in Hawai'i, property owners are building equity or cashing in on it, but price increases that are up twofold this year over last year are putting the financial screws to renters... "A lot of families are paying 50 percent of their income for what is considered substandard housing, and working two or three jobs to do it," said Lehua Rosa Malott, a counselor who helps renters become owners at the nonprofit Hawai'i HomeOwnership Center.
The order of the day right now is to save and clear debts. And when it's time to buy, I'm thinking of following Craig's excellent example and putting down roots on the Big Island.
At this rate, it's either that or someplace on the Mainland. Paying nearly half-a-million bucks for only a simple home in Ewa is just insane.
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