Honolulu Challenges World’s Priciest Cities for Housing Unaffordability
Hawai‘i’s capital is not alone. Severe housing unaffordability now plagues more and more American and foreign cities.
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Hawai‘i’s capital is not alone. Severe housing unaffordability now plagues more and more American and foreign cities.
The government program helped over 13,000 households. One reason it succeeded may have been that people who had experienced housing instability had a seat at the decision-making table.
Hawaii Business Magazine identified the leading real estate companies and invited them to submit their Top Performers.
Luckily, the price of insurance is tied to construction costs – not to rising real estate values. But those prices don’t include hurricane insurance, whose premiums can cost thousands a year.
But the reality of building accessory dwelling units was far more complicated, leading to just a trickle of affordable units. Could regulatory changes boost the numbers?
That means the majority of Island homes are worth at least twice what’s owed on any mortgages or other debts on the properties.
With interest rates in Hawai‘i nearing or topping 5%, now might be a good time to use a home equity line of credit for big purchases.
Moving In the Right Direction
Honolulu trails only New York and San Francisco when it comes to building costs, according to project management company RLB.