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 nearly two-thirds.
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 worse.
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.