“ This is pocket money for me.”

(Subscribe to the revolutionary press)

According to the press , Japanese property mogul Genshiro Kawamoto , one of Japan’s richest men , has handed over three of his many multi-million-dollar homes in Oahu’s most expensive neighbourhood to homeless and low-income native Hawaiian families.Dorie-Ann Kahele’s accepted the key to a white-columned house worth nearly €3.8m. Her family will live in the mansion rent-free.Kawamoto plans to open eight of his 22 Kahala neighbourhood homes to needy Hawaiian families, who will be able to stay in the homes for up to 10 years.

Kawamoto laughed when asked if he was concerned about losing money on the effort, saying: “This is pocket money for me.”

Kawamoto owns dozens of office buildings in Tokyo and his been buying and selling property in Hawaii and California since the 1980s.He has been criticised for evicting tenants of his rental homes on short notice so he could sell the properties, as in 2002, when he gave hundreds of California tenants 30 days to leave. Two years later, he served eviction notices to tenants in 27 Oahu rental homes, saying they had to leave within a month. He said he wanted to sell the houses to take advantage of rising prices.

I believe readers of this blog will tend to agree with the comments of the neighbour who stated:-

“Everyone’s paying homage to him, but in reality, he’s the problem,” said Mark Blackburn, who lives down the street from Kahale’s new home.“Houses are homes. They’re made to live in; they aren’t investment vehicles.”

And it is also suspected that Kawamoto's real motive is to drive down local property values so he can buy even more houses .