03-27-2012, 02:10 PM
Inevitably the codes became the demise of the industry. Most people don't realize that at the core of the current housing fiasco sit the newest building codes and municipal exactions and even though they may know those things exist, they don’t realize their guilt in the current issue. This alone was responsible for the high cost of housing, it was merely another form of exaction and greedy codes to sell more products that birthed the greed in illicit financing on overinflated house prices. They are all cut from the same cloth.
Now the industry sits in shambles, government has only addressed the most obvious reason for the failure but at the core sit the codes and municipal exactions that have not been addressed. We can expect no recovery in the construction industry until the fattened codes and exactions are removed from the equation also.
There is a glut of homes available on the market and until they are gone, we cannot hope to see the industry begin recovery and stricter financing will severely limit those qualified to buy the extremely expensive over built new homes.
Even after that has occurred (when and if) affordable homes will not be made because of the codes and the practice of municipal exactions. So we will sit stagnant for many years to come in this industry.
In the 1950’s we had a 40% building rate increase that has progressively receded to less than 10% growth even at the height of latest building boom. The reason for the decrease in construction throughout the years since the 1950’s is due to greedy building codes and municipal exactions that progressively drove the cost of housing ever higher and higher.
Now the State of Hawaii has adopted the IBC… why? Were they having people get crushed under substandard new buildings and having a vast number of fires from the old electrical codes and sickness caused by plumbing? Nope, nothing of the sort, so what inspired the adoption of the IBC…? It’s all cut from the same cloth.
So for now… here we’ll all sit for many years to come, waiting for “change”.
E ho'a'o no i pau kuhihewa.
Now the industry sits in shambles, government has only addressed the most obvious reason for the failure but at the core sit the codes and municipal exactions that have not been addressed. We can expect no recovery in the construction industry until the fattened codes and exactions are removed from the equation also.
There is a glut of homes available on the market and until they are gone, we cannot hope to see the industry begin recovery and stricter financing will severely limit those qualified to buy the extremely expensive over built new homes.
Even after that has occurred (when and if) affordable homes will not be made because of the codes and the practice of municipal exactions. So we will sit stagnant for many years to come in this industry.
In the 1950’s we had a 40% building rate increase that has progressively receded to less than 10% growth even at the height of latest building boom. The reason for the decrease in construction throughout the years since the 1950’s is due to greedy building codes and municipal exactions that progressively drove the cost of housing ever higher and higher.
Now the State of Hawaii has adopted the IBC… why? Were they having people get crushed under substandard new buildings and having a vast number of fires from the old electrical codes and sickness caused by plumbing? Nope, nothing of the sort, so what inspired the adoption of the IBC…? It’s all cut from the same cloth.
So for now… here we’ll all sit for many years to come, waiting for “change”.
E ho'a'o no i pau kuhihewa.