2aHawaii
General Topics => Political Discussion => Topic started by: ren on November 08, 2021, 09:20:35 AM
-
housing!
https://www.khon2.com/local-news/hawaiis-housing-prices-remain-high-expert-hopes-proposed-tax-could-help-rental-market/ (https://www.khon2.com/local-news/hawaiis-housing-prices-remain-high-expert-hopes-proposed-tax-could-help-rental-market/)
-
housing!
https://www.khon2.com/local-news/hawaiis-housing-prices-remain-high-expert-hopes-proposed-tax-could-help-rental-market/ (https://www.khon2.com/local-news/hawaiis-housing-prices-remain-high-expert-hopes-proposed-tax-could-help-rental-market/)
You got that right! 🤦♂️
-
That policy doesn't sound utterly horrible on paper. Small tax on vacant properties. Saves a rise in tax for actual occupied dwellings.
-
When you think you own your property
https://www.kitv.com/story/45136075/bill-aims-to-crackdown-on-oahu-short-term-rentals (https://www.kitv.com/story/45136075/bill-aims-to-crackdown-on-oahu-short-term-rentals)
-
When you think you own your property
https://www.kitv.com/story/45136075/bill-aims-to-crackdown-on-oahu-short-term-rentals (https://www.kitv.com/story/45136075/bill-aims-to-crackdown-on-oahu-short-term-rentals)
YOu can't even rent it out via short term rental (air BnB) without the states permission.
-
What next? A State declared "homeless pandemic" and all secondary properties will be open to the homeless? Or how about that extra room you got? Or you are expecting a baby? That's months away...can Mr or Ms Homeless reside there till baby arrives?
-
When you think you own your property
https://www.kitv.com/story/45136075/bill-aims-to-crackdown-on-oahu-short-term-rentals (https://www.kitv.com/story/45136075/bill-aims-to-crackdown-on-oahu-short-term-rentals)
Anytime the government sticks its nose into the capitalist economy, they screw everything up. And this is just another example of the unintended consequences of a bad idea. It’s too bad the stupid politicians don’t see that. Unless of course they just see another revenue stream. In which case they are geniuses ripping off their constituents and they don’t care about the unintended consequences.
-
I think that the market will prevail no matter what. And the market influx is from out of state because our local economy is stagnant. What local resident can afford current market prices? What local jobs can support that?
-
Who's going to want to own a rental property if they have to pay a "vacancy tax" should it be vacant for a period of time? Without a tenant, that comes out of the owner's pocket. And if it is allowable as an operating expense, that tax amount lowers the taxable income of the owner -- so the 1% tax may be less than 1% if the owner is able to deduct it.
The idiots are doing a money grab -- again. Has nothing to do with solving the problem of selling rental properties. If that was the problem, they'd tax home sales of existing rental properties instead.
So stupid. No matter what, people will find a way to avoid the tax long term.
-
Rent control will be next...
-
Just think, soon you will own nothing and be happy. Think about all the money you will save on property taxes. :D
-
I just listened to a podcast this afternoon about the government is planning to force rental property owners and business property owners to de-carbonize their properties. Eventually moving to forcing all homeowners to do the same.
Here is the podcast I listened to.
https://youtu.be/lPHXEOXlg9c
-
I just listened to a podcast this afternoon about the government is planning to force rental property owners and business property owners to de-carbonize their properties. Eventually moving to forcing all homeowners to do the same.
Here is the podcast I listened to.
https://youtu.be/lPHXEOXlg9c
Meanwhile, the elite political power "okoles" will jet off to some far distant land to talk about "climate change"
-
My sister and I own a property that we've meaning to renovate and rent. WTF is going to force me to rent land that I own?!?
-
My sister and I own a property that we've meaning to renovate and rent. WTF is going to force me to rent land that I own?!?
you privileged
you must pay reparations...
-
you privileged
you must pay reparations...
"Come and get it"
Since you own no firearms, ammo, reloading components/equipment, or are otherwise quite boring. . . ;D
-
My sister and I own a property that we've meaning to renovate and rent. WTF is going to force me to rent land that I own?!?
You're up a hog's a$$ looking for a ham sandwich.
There's no rational reason for what's being proposed. If they want to go after out-of-state investors who gobble up homes without renting them, then they ought to write the tax law specifying only those types of investors have to pay (or that HI residents are exempt).
-
You're up a hog's a$$ looking for a ham sandwich.
There's no rational reason for what's being proposed. If they want to go after out-of-state investors who gobble up homes without renting them, then they ought to write the tax law specifying only those types of investors have to pay (or that HI residents are exempt).
Did you mean Boar's Head?
They make some guud ham. ;D
-
"Come and get it"
Since you own no firearms, ammo, reloading components/equipment, or are otherwise quite boring. . . ;D
anti-dentite!
-
My sister and I own a property that we've meaning to renovate and rent. WTF is going to force me to rent land that I own?!?
(https://d1l18ops95qbzp.cloudfront.net/wp-content/2020/04/08161911/Lt-Governor-Josh-Green-Coronavirus-COVID19-press-conference2-scaled.jpg)
https://stateofreform.com/5-things/2019/11/5-things-washington-hawaii-lt-gov-josh-green-bh-workforce-jiquanda-nelson/ (https://stateofreform.com/5-things/2019/11/5-things-washington-hawaii-lt-gov-josh-green-bh-workforce-jiquanda-nelson/)
Green is a former ER physician and a national leader on the intersection of housing, homelessness, and health care. He argues that if homelessness is often a symptom of medical issues, particularly mental health, and if housing is generally a pre-requisite to addressing health concerns, then stable housing should be a covered prescription under Medicaid. Prior to being elected lieutenant governor, Josh Green served in the Hawaii House of Representatives and the State Senate where he chaired the Health Committee and Human Services Committee.
-
Did you mean Boar's Head?
They make some guud ham. ;D
It's a Southern phrase. Similar to "It's raining harder than a cow pi$$ing on a flat rock!"
Someone trying to make sense out of nonsense is looking for a ham sandwich in an place where ham sandwiches don't exist. :rofl:
-
It's a Southern phrase. Similar to "It's raining harder than a cow pi$$ing on a flat rock!"
Someone trying to make sense out of nonsense is looking for a ham sandwich in an place where ham sandwiches don't exist. :rofl:
Yeah, I got it.
My aunt lives in VA, and used to live in Louisana, Maryland, etc. Picked up much of that stuff.
INB4 "cool story bro"
And just messing with you. . . bruh
-
Green is a former ER physician.
Yep, a lot more money in crooked politics than you could ever make as a physician.
-
Green is a former ER physician.
Yep, a lot more money in crooked politics than you could ever make as a physician.
He is still an ER Dr.
https://www.khon2.com/coronavirus/bill-proposes-prohibiting-future-lieutenant-governor-from-having-second-job/ (https://www.khon2.com/coronavirus/bill-proposes-prohibiting-future-lieutenant-governor-from-having-second-job/)
“I’ll always be a doctor. I mean, that’s not gonna change,” Green said.
-
He is still an ER Dr.
https://www.khon2.com/coronavirus/bill-proposes-prohibiting-future-lieutenant-governor-from-having-second-job/ (https://www.khon2.com/coronavirus/bill-proposes-prohibiting-future-lieutenant-governor-from-having-second-job/)
“I’ll always be a doctor. I mean, that’s not gonna change,” Green said.
He shouldn't have given up his day job.
-
You're up a hog's a$$ looking for a ham sandwich.
There's no rational reason for what's being proposed. If they want to go after out-of-state investors who gobble up homes without renting them, then they ought to write the tax law specifying only those types of investors have to pay (or that HI residents are exempt).
Where is Genshiro Kawamoto when we need him?
-
He is still an ER Dr.
https://www.khon2.com/coronavirus/bill-proposes-prohibiting-future-lieutenant-governor-from-having-second-job/ (https://www.khon2.com/coronavirus/bill-proposes-prohibiting-future-lieutenant-governor-from-having-second-job/)
“I’ll always be a doctor. I mean, that’s not gonna change,” Green said.
I just quoted the first sentence below the picture you posted which said former ER physician. I know he likes to play the Dr card when it is to his advantage.
-
Nothing wrong with being a politician and doctor. Politician have long breaks all the time might as well be productive. If not plenty of hours in the week to work two jobs. Hawaii needs more doctors not less.
-
He shouldn't have given up his day job.
We want a visionary to lead, not a stubborn myopic.
If thats the case lets have Pastor Wayne Cordeiro be LtGov....or Gov. and be Pastor at the same time.....
-
This might not be popular but what do you guys think about the military and it’s effect on housing prices? My uncle was in the military, super conservative we agree on 99.99% of things except this. He thinks that the military being stationed here has nothing to do with the out of control rent and housing prices. I disagree.
So just a little anecdote but me and my wife are trying to look for a bigger place for our growing family (2 kids now) and we found a nice little 3 bedroom townhouse that had a list price of $550k right in our price range so we decided to look. Had choke people at the sunday open house but we decided to just submit an offer anyway. Of course we don’t get it but we just found out the other day that the house went for $625k! Military family. Now that’s great and I have nothing against the military but consider the COLA and the 0 down for VA loans how is that not a problem?
-
This might not be popular but what do you guys think about the military and it’s effect on housing prices? My uncle was in the military, super conservative we agree on 99.99% of things except this. He thinks that the military being stationed here has nothing to do with the out of control rent and housing prices. I disagree.
So just a little anecdote but me and my wife are trying to look for a bigger place for our growing family (2 kids now) and we found a nice little 3 bedroom townhouse that had a list price of $550k right in our price range so we decided to look. Had choke people at the sunday open house but we decided to just submit an offer anyway. Of course we don’t get it but we just found out the other day that the house went for $625k! Military family. Now that’s great and I have nothing against the military but consider the COLA and the 0 down for VA loans how is that not a problem?
Chicken and egg question.
Is the military COLA (Cost of Living Allowance) and HA (Housing Allowance) a CAUSE of higher prices, or are they a RESULT of higher prices?
The $0 down for VA loans is a non-issue. That exists for anyone who's served and was honorably discharged. I'm eligible for VA financing, yet I separated before I moved to Hawaii and have never used it for a HI property. The $0 down payment only covers homes with a selling price up to $822,375, as of this year's rules. That amount changes when the VA sees there is a need to make adjustments based on the market, available funds, etc. There are a lot of homes that amount won't cover and qualify for $0 down.
When you put $0 down, you are financing a larger amount. That means your monthly payment is much higher. Even though VA loans can save you a huge down payment, many military families save or use the equity from another home they just sold to make a down payment. It creates immediate equity in the home as a cushion against a drop in the market, and it lowers their monthly payment. Not every military family can afford a $625K mortgage with no money down unless both are making good salaries even with HA and COLA.
Given the fact that many military members have no idea where they will be in 5 years, most don't even try to buy a house in Hawaii. Besides the high prices, they may have to leave for a year or 2 deployed somewhere, and if they have family, could be forced to sell or rent the home and move to the mainland. Deployed military who are elsewhere for more than 180 days lose their HA and COLA, since they are being housed at their deployed locations. I'm not sure if those rules are still in effect, so maybe someone more recently affected can correct me? I just know, 180 days is the cut-off between a temporary duty location change and a permanent one. You get regular housing and COLA for your permanent station.
There are many in the military, especially the DINKS (Double Income, No Kids), who use the HA of the higher ranking spouse and the double COLA to buy properties. Landlords love military renters, and banks military buyers, because they have documented and dependable sources of monthly income. If a house goes to a military member, it might not be because their income sources alone made the difference, but it helps.
Having said that, many more choose to rent rather than take the risk they might be forced to sell when they get their next assignment. Unless they plan to retire in the location they get stationed in, they may never decide to buy a home while active duty.
As for the price of the home going from $550K to $650K, that's too common here. When a property is marketed, the asking price is a starting point, I negotiated a lower price for my current house because it had been on the market for over a year. But, I know after that (Dec 2001), people were offering insane amounts over the asking prices for other properties in the neighborhood. Interest rates were cut in half, and people were able to sell without being upside down. The market was on fire just a few months after we bought.
Apparently the housing market is again catching fire in advance of higher interest rate and other inflation-related concerns. For there to be bidding wars is expected. Trying to place the blame on certain groups who happen to be in a better position to take advantage of the market prices isn't useful.
I remember stories of the Japanese investors in the 80s driving up house prices by showing up and paying cash. No mortgages or financing needed. That did much more to inflate prices than the military, but the military was still blamed because COLA and HA increased to match the increased cost of living. Since local wages aren't always able to rise to the same level as quickly, it becomes a "sour grapes" issue.
Chicken and egg.
-
That a question I have as well but I think the only way to get valid insight is to look at all the buyer profiles. There's also a lot of tech workers who can telework and can afford a house in Hawaii. Again a complete survey of buyer demographics and profiles would answer these questions and provide a complete picture. Can we get this info? Where? Banks? Realtors? I don't know.
-
That a question I have as well but I think the only way to get valid insight is to look at all the buyer profiles. There's also a lot of tech workers who can telework and can afford a house in Hawaii. Again a complete survey of buyer demographics and profiles would answer these questions and provide a complete picture. Can we get this info? Where? Banks? Realtors? I don't know.
I wonder how many people worried about Military buyers driving up prices also benefit by owning a rental. The higher rents military members can afford benefits the rental home owners.
For every person priced out of the market, there is another person making more money from it.
-
The people who bought my house in Kailua recently put it up for rent....$6500 a month.
-
The people who bought my house in Kailua recently put it up for rent....$6500 a month.
I think that just gave me an ulcer! :shake:
That's about 2-1/2 times my current mortgage payment.
It's almost double what I owe monthly for this house plus the mortgage on my Virginia rental property. :crazy:
When I sell, I'm thinking I might pay off the Virginia house with the equity and live there. I think I owe $35K there.
I should have enough left for an EV. :rofl: :rofl: :rofl:
-
I should have enough left for an EV. :rofl: :rofl: :rofl:
At least you are not telling everyone else they have to buy one! :rofl:
-
I found out going rate for rentals in my building are about 1.5-2x my mortgage + maintenance fees. Maybe I should rent it out. . .
-
Rentals in our neighborhood are around 2x our mortgage.
But I have no where to go. Mom doesn’t have a basement.
-
Rentals in our neighborhood are around 2x our mortgage.
But I have no where to go. Mom doesn’t have a basement.
Didnt u get the memo, buying a home is so easy to do...
Sent from my SM-G991U using Tapatalk
-
When you think you own your property
https://www.kitv.com/story/45136075/bill-aims-to-crackdown-on-oahu-short-term-rentals (https://www.kitv.com/story/45136075/bill-aims-to-crackdown-on-oahu-short-term-rentals)
If you don’t control the land you “own”, they should force private land owners to let hunters on private property for a fee to the County on Maui. For access to Axis deer.
See how those landowners take it.