Economists in Hawaii warn that residents who survived the wildfire that destroyed much of the Maui community of Lahaina might not be able to afford to live there after it is rebuilt unless officials alter the zoning laws and make other changes.
To be honest there are millions of Americans who are juuuust fortunate enough to have bought a home at an economic low (think 2008), who could not possibly “buy” their own home today. This isn’t unique to Hawaii, but I’d obviously a massive issue.
I myself live in a home I bought for a quarter of its current value, and would be hard pressed to buy it today, especially if I had just experienced a massive loss.
One hopes this is where insurance comes in, but we know how that goes.
To be honest there are millions of Americans who are juuuust fortunate enough to have bought a home at an economic low (think 2008), who could not possibly “buy” their own home today. This isn’t unique to Hawaii, but I’d obviously a massive issue.
I myself live in a home I bought for a quarter of its current value, and would be hard pressed to buy it today, especially if I had just experienced a massive loss.
One hopes this is where insurance comes in, but we know how that goes.
This content doesn’t even touch renting.