Wednesday, July 15, 2020
Hawai'i Free Press

Current Articles | Archives

Tuesday, April 03, 2018
Honolulu 8th-Worst for Middle Class Homebuyers
By Selected News Articles @ 2:11 AM :: 2707 Views :: Hawaii Statistics, Cost of Living

Sky-High Prices Got You Down? Here Are the Top Middle-Class Housing Meccas

From Realtor.com, April 2, 2018 (excerpt)

…The American dream sure ain't cheap these days, or easy to achieve. Politicians may fight over middle-class voters like hyenas over a fresh kill, but all their hyperbolic campaign promises ("time to ignite America's middle-class miracle once again!") and hashtags don't seem to be making life much better for this defining chunk of the nation's population.

The Pew Research Center defines middle-class Americans as those households earning between $42,000 and $125,000 annually—although most hew closer to the $59,000 median. As a group, they face endless challenges: income stagnation, rising costs of living, ever-escalating debt loads.

And then there's perhaps the biggest pain point of all: record-high housing costs in many parts of the country. So much for the middle-class miracle.

But wait—there are still places where the middle class reigns supreme, at least when it comes to housing. And the data team at realtor.com® set out to find them. We figured out which metros have the highest share of homes on the market that are priced just right for that area's middle-income earners—and, at the other end of the spectrum, the markets that have the least housing available for this grand swatch of buyers, whether it's priced substantially above or below their needs.

Best cities for middle-class buyers

Best cities for middle-class buyers

"The bottom line here is the middle class is getting squeezed when it comes to homes,” says Robert Hughes, senior research fellow at the American Institute for Economic Research, a nonprofit that focuses on wage distribution research.

“These people don’t have steady, good-paying jobs, and they can’t get financing at that price—it can be very hard for them to buy a house," adds Peter Temin, an economics professor at the Massachusetts Institute of Technology and author of the 2017 book titled "The Vanishing Middle Class: Prejudice and Power in a Dual Economy."

"That spells trouble for them later in life: Owning a home is one way to build wealth," Temin says. "So they don't have a good way to save.They're kind of trapped.”

Worst cities for middle-class buyers

Worst cities for middle-class buyers

We identified the middle class in each of the nation's 100 largest metros by starting with the median household income for each area, looking at 40% below and 40% above that income. Then we determined what these potential buyers could afford to spend on a 30-year fixed-rate mortgage with a 20% down payment and a 5% mortgage interest rate.

In their ongoing quest to lock in the best home, we're assuming that those on the lower end of the income scale would pay at least 25% of their income, while those at the top of the scale would pay no more than 28%….

read … Full Report

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

808 State Update AM940

ABCDEFG Blog

ACA Signups Hawaii

ACCE

ALEC

Alliance Defending Freedom

Aloha Life Advocates

Aloha Pregnancy Care Center

American Council of Trustees and Alumni

American Mothers of Hawaii

AMVETS-Hawaii

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Astronomy Hawaii

Audit The Rail

Ballotpedia Hawaii

Better Hawaii 

Blaisdell Memorial Project

Broken Trust 

Build More Hawaiian Homes Working Group

CAFR Hawaii

Castaway Conservative

Children's Alliance Hawaii

Children's Rights Institute

ChinaTownWatch.com

Christian Homeschoolers of Hawaii

Citizens for Recall

Cliff Slater's Second Opinion

Coffee Break

CSIS Pacific Forum

DAR Hawaii

DeedySupport.com

DVids Hawaii

E Hana Kakou Kelii Akina

E Māua Ola i Moku o Keawe

Farmers For Choice Hawaii

FIRE

Fix Oahu!

Follow the Money Hawaii

Frank in Hawaii

Front Page Magazine

Frontline: The Fixers

Genetic Literacy Project

Get Off Your Butts!

God, Freedom, America

Grassroot Institute

Habele.org

Hawaii Aganst Assisted Suicide

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii Coalition Against Legalized Gambling

Hawaii ConCon Info

Hawaii Credit Union Watch

Hawaii Crime Victims' Rights

Hawaii Crop Improvement Association

Hawaii Debt Clock

Hawaii Defending Marriage

Hawaii Defense Foundation

Hawaii Family Advocates

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii Firearm Community

Hawaii Fishermen's Alliance

Hawaii Future Project

Hawaii Gathering of Eagles

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii March for Life

Hawaii Meth Project

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Right to Life -- Big Island

Hawaii Right to Life -- Oahu

Hawaii Shield Law Coalition

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

Heritage Foundation

HI Coalition Against Legalized Gambling

HIEC.Coop 

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Homeless Crisis

Honolulu Navy League

Honolulu Traffic

Horns of Jericho Blog

House Minority Blog

House Republican Caucus YouTube

HPACC

Hump Day Report

I Vote Hawaii

If Hawaii News

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

Iowa Meets Maui

Jackson v Abercrombie

Jihad Watch

July 4 in Hawaii

Kahle v New Hope

Kakaako Cares

Kau TEA Party

Kauai Co GOP

Keep Hawaii's Heroes

KeyWiki

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Malulani Foundation

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

Mauna Kea Recreational Users Group

MentalIllnessPolicy.org

Middle East Forum--The Legal Project

Mililani Conservatives for Change

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

Muslim Brotherhood in America

NAMI Hawaii

NARTH

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

National Wind Watch

New Hawaiian

New Zeal

NFIB Hawaii News

No GMO Means No Aloha

Northwest Economic Policy Seminar

Not Dead Yet, Hawaii

Now What I Really Think

NRA-ILA Hawaii

Oahu Alternative Transport

ObamaCare Abortion Hawaii

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Pacific Aviation Museum

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Pritchett Cartoons 

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

Republican Party -- Hawaii State

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

Save Dillingham Airfield

School Choice in Hawaii

SenatorFong.com

SIFE Remington

SIFE W. Oahu 

Sink the Jones Act

Smart About Marijuana--Hawaii

St Marianne Cope

State Budget Solutions Hawaii

State Policy Network

Statehood for Guam

Tax Foundation of Hawaii

The Harriet Tubman Agenda

The Long War Journal

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Truth About Trade & Technology - Hawaii

UCC Truths

Union Members Know Your Rights

US Tax Foundation Hawaii Info

Valor in the Pacific

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT