"Zoning changes crucial to prevent Lahaina locals from being priced out after rebuilding"

1 min read
Source: PBS NewsHour
"Zoning changes crucial to prevent Lahaina locals from being priced out after rebuilding"
Photo: PBS NewsHour
TL;DR Summary

Economists warn that residents who survived the wildfire in Lahaina, Hawaii, may not be able to afford to live there after it is rebuilt unless zoning laws are altered and other changes are made. Soaring housing prices have already forced many Native Hawaiians and longtime residents to leave the islands. The wildfire destroyed 86% of residential buildings in Lahaina, exacerbating the problem for survivors. The economic report suggests that market prices for new housing will far exceed the already high prices that existed before the fire, potentially pricing out locals. The reopening of West Maui on October 8 is expected to speed up recovery, but it is uncertain when displaced residents will be able to return and whether they can afford to do so.

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