Todd Cochrane Ramblings and Happenings

Shoko and I have been actively looking for a home here in Hawaii for about a month, and I will be honest with you. The situation here is absolutely out of control.

I have walked into absolute dumps that would be worth more burned to the ground listed for $650,000. I have walked into Town Homes that have less than 1100 square feet with three bedrooms for $600,000 with a monthly maintenance fee of $600.00. I have seen homes that were priced at a good value but in a school district that ranked at the absolute bottom of the scale.

I have walked through beautiful sub-divisions with model homes to die for that are listed at $550,000 yet the test drive to get to the main highway from the location averaged a hour plus an additional 45 minute commute. The distance travelled in one hour was less than 3 miles. Not to mention those homes are in another crappy school district.

Not to mention a Job market that absolutely does not support at estimated $4000.00 a month mortgage payment. Bankers are more than happy to finance you a home where they know you will be spending as much as 60% of your base salary on a mortgage payments.

Heck we have not even talked about Electric, Water, Sewer and Garbage. I’ll be honest with you, this is a housing market that is completely out of control and for the life of me I do not see how people are able to afford these type of mortgage payments based upon the economy.

So here I sit making a significant salary and completely demoralised that we are finding it near impossible in buying a home at our self imposed cap. Something has to give because if a guy like me that has significant resources is scared of the housing market then I cannot even imagine what others are thinking.

The state simply has to get off their ass and do something because as much as I love Hawaii the shitty schools and crazy home prices is making me look eastward and making me consider packing my suitcase and getting the hell out of of here.