Thursday, October 13, 2005

HOUSING SHORTAGE

Hat tip to Grass Roots for pointing out this article on a housing shortage for the reason behind the high cost of homes. The article speaks to a more national audience. It speaks volumes and Hawaii is a perfect example of what this article talks about.

Long-time homeowners in high-cost areas like California have certainly benefited from supply-induced price appreciation. But the projected housing shortage in these areas paints an ominous picture for the "have nots" at the bottom of the housing ladder - prospective first-time homebuyers, middle- and low-income households, and recent immigrants that are rapidly being priced out of the market.

For many families still trying to buy their first homes, their only hope lies in politicians waking up to the reality that the best way to keep housing affordable and to avoid the looming housing shortage is to stop passing land use and housing regulations and start approving more housing construction.


I work in the construction industry and have first hand knowledge of this governmental nightmare

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