The Mainland Exodus

[missydog1]

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However, wouldn't the actual cost of building be the same? The only difference would be cost of the land.

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well, you're making the assumption that these families would or could build their own house.

To build a house of that entry price requires cash in the bank. Construction loans aren't so easy to get. My last broker, who helps people achieve home ownership in Hilo, says very few local clients have the kind of good credit to get loans like that. Realistically, I'd guess the typical renter who wants to own a home hopes to do it on 0-5% down, on an existing home.