Fantastic show put on by moronic adult children that lasted a good 5 minutes and a rather large brushfire across from a well populated Waipahu neighborhood tonight.  grow up and just stop this stupidity.

and another event: https://www.kitv.com/news/local/teen-taken-for-serious-injuries-after-firework-accident-in-maili/article_986e746a-4f3e-400b-9160-853bde0804a8.html

16 years old.  That means he should have parents or guardians.

Where is the supervision teens need to stay safe and not do such stupid things?  Where did the kid get the illegal fireworks and the money to pay for them?

I'd start a child neglect case to start holding parents responsible where appropriate.

Everybody complains no can buy house in Hawaii so they all live at home wit mommy and (maybe daddy) and grammpa and granmma.  Clog up the streets wit all their cars and childrens cars.

Instead of saving money to buy house (like I did while married with 3 kids and renting) dey spend dere money on stuff like fireworks.

No tell me no can because can.  I no had parents to help me buy house or anything I eventually owned.

Just venting.  Kids and everybody else nowadays are so short-sighted.  It was live for today.  Let biden pay for tomorrow.

Well the clown show is over and everybody gotta grow up.

Home prices have gone up faster than pay.

I think the general of thumb was that a couple could afford a home up to about 3x their gross income.

So to afford a home now, a couple has to gross about $300k or more. 

One of the younger guys in my office and his fiancé bought a detached condo for about $900k.  They are paying a mortgage of about $5200

Not a lot of young people make the kind of money to afford $5200/month.

Home prices have gone up faster than pay.

I think the general of thumb was that a couple could afford a home up to about 3x their gross income.

So to afford a home now, a couple has to gross about $300k or more. 

One of the younger guys in my office and his fiancé bought a detached condo for about $900k.  They are paying a mortgage of about $5200

Not a lot of young people make the kind of money to afford $5200/month.

Must be market prices for brand new units.  My daughter just bought a pre-owned townhome in Mililani   Less than half of that detached condo and her and her husband gross way, way less than 300K.

No help from parents.  Only thing we did was set an example.

They'll be saving and one day will move up to a bigger one as their family grows.  Who knows, they might be able to buy a brand new one.  Maybe.

QS,
You set a good example for your kids. 

My kids were planning to stay on the mainland because of  the lower housing costs and/or better job opportunities……but we wanted to see grandkids every weekend….so we “baited” them to move back to Oahu.  One is back.  The other will be back after she gets her PE.  We still have to bait the final trap for the last kid.

That guy in my office went for one of the new detached condos at Koa Ridge.  I was surprised.  I thought he would buy his parents small 2nd house that he was staying at….I’m pretty sure that his parents would have sold it to him pretty cheap but he said it was small (the detached condo is like 1400sf) and I suspect he wanted to live in a place with younger people vs a bunch of 60+ old farts

His parents also owned a townhome at Hampton Court but I think he said it was only 2 bedrooms and sort of small.

I guess he wanted to buy his “forever” home on the first crack instead of “upgrading” like a lot of us.

He also owns a studio in one of the newer condos right across the street from Ala Moana SC….im guessing it costed like 300-400k.  I think he now brown bags lunch everyday vs eating out like he used too

QS,
You set a good example for your kids. 

My kids were planning to stay on the mainland because of  the lower housing costs and/or better job opportunities……but we wanted to see grandkids every weekend….so we “baited” them to move back to Oahu.  One is back.  The other will be back after she gets her PE.  We still have to bait the final trap for the last kid.

That guy in my office went for one of the new detached condos at Koa Ridge.  I was surprised.  I thought he would buy his parents small 2nd house that he was staying at….I’m pretty sure that his parents would have sold it to him pretty cheap but he said it was small (the detached condo is like 1400sf) and I suspect he wanted to live in a place with younger people vs a bunch of 60+ old farts

His parents also owned a townhome at Hampton Court but I think he said it was only 2 bedrooms and sort of small.

I guess he wanted to buy his “forever” home on the first crack instead of “upgrading” like a lot of us.

He also owns a studio in one of the newer condos right across the street from Ala Moana SC….im guessing it costed like 300-400k.  I think he now brown bags lunch everyday vs eating out like he used too

Yes, I have a lot of admiration and respect for young people nowadays that would take that big step towards home ownership.  Even with help from family, these youngsters show that the American Dream is possible, although it is very much challenging and difficult.

I wanted to make a point that it seems everyone, not only youngsters nowadays, are becoming short sighted.  Seems like partying out with friends at expensive day and night clubs, expensive cars, and material luxuries (and yes, fireworks are in this midst) are more important now than living frugally in hopes of one day owning and enjoying a part of the America Dream.

I guess you can party now, or you can party bigger and better tomorrow.  Sadly lots of people think there is no better tomorrow but I believe there is for those who strive for it.

I sort of wonder if it’s also because of people trying to keep up with the “Jones” due to all the stuff people/friends post on their social media.

I see people posting on which nice restaurant they are at, their trips, their cars, their parties, their nails, their house, etc

Outside of my family, I only irritate Lyle with texts of new to me (pre-owned) toys.  He’s way better off than me and he’s a Maui HS grad so irritating him is recommended…….

The desire to blow up huge fireworks displays is the same desire that causes people to buy stuff like this.

It's a super fun flex that makes others terrified/impressed.

QS,
You set a good example for your kids. 


His parents also owned a townhome at Hampton Court but I think he said it was only 2 bedrooms and sort of small.

I guess he wanted to buy his “forever” home on the first crack instead of “upgrading” like a lot of us.

He also owns a studio in one of the newer condos right across the street from Ala Moana SC….im guessing it costed like 300-400k.  I think he now brown bags lunch everyday vs eating out like he used too

I don’t want a big house after living in a 3671 sq ft house.  More area to  keep clean.

My dream home would be something like 1000 sq ft with a big kitchen and 2bed/2bath

attached to a 4000-6000 sq ft warehouse with 16 ft high ceiling.

I don’t want a big house after living in a 3671 sq ft house.  More area to  keep clean.

My dream home would be something like 1000 sq ft with a big kitchen and 2bed/2bath

attached to a 4000-6000 sq ft warehouse with 16 ft high ceiling.

So, are you saying the warehouse is never going to get cleaned?   

In ssome cities, warehouses have had some spaces converted into living areas with the open areas remaining as originally designed.  I remember the lead in Flash Dance lived in something like that.  It provided plenty of room for practicing her dancing.

Spending money on fireworks are the same people who buy lots of scripts at the 50th state fair and on welfare/live housing.  I went to Kaimuki and grew up with many who lived in the Palolo housing.  I would run into them and their families at the fair and they got $600 worth of scripts.  While I only was able to afford $50.  They also did the same with fireworks.  It could just be a Palolo thing maybe so correlation =/= causation as 1 might say.

I have a friend who is going mortgage broke. He and his wife spend all their money on their $700K townhouse in Kapolei plus maintenance fee of $300 on top the mortgage of $5800.  They cannot afford to travel or buy random nice things.  They aren't eating cup noodle every night, but they def can't eat out very often and have to cook.  If their car breaks down and they need to fix it, they're screwed.

Spending money on fireworks are the same people who buy lots of scripts at the 50th state fair and on welfare/live housing.  I went to Kaimuki and grew up with many who lived in the Palolo housing.  I would run into them and their families at the fair and they got $600 worth of scripts.  While I only was able to afford $50.  They also did the same with fireworks.  It could just be a Palolo thing maybe so correlation =/= causation as 1 might say.

I have a friend who is going mortgage broke. He and his wife spend all their money on their $700K townhouse in Kapolei plus maintenance fee of $300 on top the mortgage of $5800.  They cannot afford to travel or buy random nice things.  They aren't eating cup noodle every night, but they def can't eat out very often and have to cook.  If their car breaks down and they need to fix it, they're screwed.

One thing to keep in mind is, if together they are paying $6100/mon in mortgage+fees, then it's basically a cash flow situation.  They can set priorities, put some money away in retirement and savings (most 401K plans allow pre-tax contributions and company matching funds, so you avoid income tax being taken for that amount), and so on.  When they file for taxes, if they have a high enough joint income, then they can usually deduct the interest paid each year from their taxable income resulting in a pretty big IRS and State refund or a reduction in taxes they still owe. 

Many don't think about the tax benefits of homeownership.  Taking the mortgage deduction effectively reduces monthly payments by 1/12th of the tax savings amount.  You just don't always get the savings until the following tax filing season but it comes out in the wash.  I received at least $10,000 in additional tax deductions for mortgage interest, so that's effectively an $834/month reduction in my $3,100 monthly mortgage cost.  I had rental income that usually covered that home's mortgage, so if I had enough interest payments, depreciation and other expenses, i could usually offset that income to where i owed no taxes on it.

Of course, the flip side is you have to have savings (or equity?) to pay for major repair or renovation costs that pop up, too.  My 401K allowed me to borrow from my investments without penalty or taxes and at a lower interest rate (which I paid to myself) if the money is withdrawn for home repairs or improvements.