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Why are kamaaina housing needs ignored when real estate in family neighborhoods is sold to investment buyers who never move in? Is it due to comparatively low real estate taxes? Or is this a result of public policy, government ignorance, or local seller greed?
Last May, we tried to buy a house for the asking price, on the street where we’ve rented for nine years. We were overbid by multiple nonlocal buyers offering all cash. After the sale, no one moved into the house.
Now we are in the same predicament with another house on our street for sale. This time we are offering the asking price and are feeling despondent, knowing the same situation will happen again and again until public policy, taxes on second homes, or local seller sentiment changes to benefit local families instead of investment buyers.
Anmei Su-Murray
Kaneohe
EXPRESS YOURSELF
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