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A future without Aloha Stadium


POSTED: 01:30 a.m. HST, May 09, 2014

~~<p>New homes are not being built fast enough to meet the demands of Oahu's growing population. The gap is the widest it has been in at least 50 years, with the island falling behind at a rate of roughly 2,000 homes a year at current housing construction rates, according to the state's top economist.</p>
<p>The disparity means that monthly rents for the meager stock that is available are sky-high and the median sales price for a single-family home on the island has hit a record $650,000. That may be good news for landlords with units to lease and for resident-homeowners rapidly building equity in their properties, but it makes life miserable for house-hunters and apartment-seekers, especially the low- and middle-income folks who despair of ever moving up in such an expensive market. The lack of affordable housing is even more dire for the most desperate of Oahu's residents: homeless people, individuals and families, who are getting by in shelters or surviving on the streets.</p>
~~

New homes are not being built fast enough to meet the demands of Oahu's growing population. The gap is the widest it has been in at least 50 years, with the island falling behind at a rate of roughly 2,000 homes a year at current housing construction rates, according to the state's top economist.

The disparity means that monthly rents for the meager stock that is available are sky-high and the median sales price for a single-family home on the island has hit a record $650,000. That may be good news for landlords with units to lease and for resident-homeowners rapidly building equity in their properties, but it makes life miserable for house-hunters and apartment-seekers, especially the low- and middle-income folks who despair of ever moving up in such an expensive market. The lack of affordable housing is even more dire for the most desperate of Oahu's residents: homeless people, individuals and families, who are getting by in shelters or surviving on the streets. Login for more...



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