House prices in Honolulu rose significantly in less than a month. Median home price is now $755,000 for a standard "cookie cutter" home possibly in Waipio or Kapolei. Houses in Honolulu proper are more than $1million. Low inventory (finite supply on an island) is one cause. The other cause is asset price inflation spurred by "cheap" money created by global central banks.
Hawai'i also has the privilege of ranking as the second highest state in empire for consumer debt. Most of that debt is tied up in mortgages. No surprise.
Higher home prices equals higher property values and higher property taxes. Expect rental housing to respond in kind with higher rents. Then, expect to see another spike in homelessness.
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