Wednesday, September 23, 2009

Highest rents in U.S. .... Hawaii

*That's based on the percentage of the paycheck devoted to rent.

The culprit behind the "highest rent" is the influx of Micronesians who have migrated to the islands, and in so doing, have reduced the number of vacant rental units because obviously they have to live somewhere. However, with a higher demand for the lower number of remaining rental units available on the market to local renters, rents have been jacked up. I've been in my apartment for more than 20-years by now, so my rent is still reasonable on that basis. But most of the renters I know personally pay $200 a month more than they would have had the microdots stayed put. $200 a month more for the same unit, amounts to getting soaked $2,000 extra rent per year, every year.

What's the microdot population in Hawaii? 20,000 is my own guess. The figure may well be higher, as Micronesians are officially classified under the US Compact to redress testing nuclear weapons in their atolls, officially classified, as "citizens who are free to emigrant to US without visas or time limits," and population data is not readily available if anybody is keeping track at all under that status. Don't get me wrong, if you want the microdots in your town, be my guest, and have your mayor take out a full page ad in the Honolulu Advertiser or Honolulu Star-Bulletin, and invite them there to establish the latest Micronesian village. Hawaii will gladly pay for the ad. Say, if the rental market in your town is depressed, shipping the microdots there will accrue mutual benefits. The downside is that your public schools will be negatively impacted as it is here, moreso, now, since the State has cut the public school year by 17-days, as well as, reduced public school funds. Btw, it's imperative that rentals have garages so the microdots can park their SUV's which they paid in full for, compliments of the US gov't. Their rent is subsidized as well in one form or another.


OkiHwn said...

You sound a little bitter.

RONW said...

Nate- from the apartment owners' standpoint, they're glad of the situation.