Friday, August 29 2014 1:50 PM EDT2014-08-29 17:50:07 GMT
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By: Rick Blangiardi
A new poll shows the dire consequences of high housing
costs in Hawaii.
Statistics from as recently as 2007 shows that housing
costs eat up 37.5 percent of the average us household income. However, in Hawaii,
that number is 45.8 percent.
Median home prices? Expected to rise here from 576,000
dollars in 2011 to 887,000 dollars in 2018. Median condo prices will rise from
300,000 dollars to 477,000 during that same period.
Median gross recent income per month was 842 dollars in
2009 compared with 1,293 dollars in Hawaii. Median Hawaii household income has
risen only nine percent between 2003 and 2012 while housing prices have risen
The poll, commissions by pacific resource partnership, the Hawaii
chamber of commerce and the Hawaii business roundtable, showed that 11 percent
thought the cost of living was getting better and 82 percent thought it was
About 11 percent thought affordable housing was getting
more plentiful while 78 percent said it was getting scarcer.
Something is wrong when the percentage of income from Honolulu
residents that goes for housing and transportation is 47 percent.
What's worse is that the percentage rises to 71 percent for
those living in Ewa gentry and 72 percent for those in Nanakuli.
Unacceptable. We are hopeful that the local labor and
business groups, along with our governmental bodies, can make some headway on
this important, quality of life issue.