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Idk, seems like houses are going contingent left and right on Redfin. I been following the market on the BI for a while and houses been going contingent and selling crazy. We are in a short term rental and we can’t wait too long. We see a house we really like, I don’t want to try and chase the market.
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Originally Posted by whtviper1
Do your homework. It’s not a matter if housing will collapse. It’s when. Now, if staying long term it doesn’t matter as much.
I understand that. I want it to be long term. I’m done moving.
This is the time of year when rentals and houses go fast. Once the effects of the shutdown filter through and the folks aren't getting stimulus checks and there's less jobs out there, then there will most likely be a wave of foreclosures. The market had been pretty high and it was about time for a correction, wasn't it?
It’s been almost 5 years when I started this thread and that time did come pretty darn fast. When first starting this thread not sure if moving to Hawaii would ever become a reality and if it was completely nuts. Well, we moved here yesterday and settled in a rental house in Pahoa for the next few months until we find a house. It’s pretty surreal that we are now here.
I have been following your posts. We got here April 17 and did our 14-day quarantine. Very happy returning to our Hawaii roots. Moved here from Florida. As you know, coming from the East Coast costs more for shipments of household goods and vehicles. Our flights were canceled and rescheduled so many times that we were holding our breaths until we were on our last flight to the Big Island.
Hopefully you will be happy in your retirement here in Hawaii, and your wife enjoys here job here as well.
I have been following your posts. We got here April 17 and did our 14-day quarantine. Very happy returning to our Hawaii roots. Moved here from Florida. As you know, coming from the East Coast costs more for shipments of household goods and vehicles. Our flights were canceled and rescheduled so many times that we were holding our breaths until we were on our last flight to the Big Island.
Hopefully you will be happy in your retirement here in Hawaii, and your wife enjoys here job here as well.
Judy
I hope so too. The plan is for this move to be the last move. We are looking forward to a slowed down pace of life and relax. Just very happy to be here and make this home.
Yeah, I know what you mean. Our flights were rescheduled all over the place and had some overnight layovers. We eventually were able to get a flight where that didn’t happen and was able to get here in the same day directly to Kona airport. It ended up working out pretty well.
Housing on the BI isn't the same as the last two recessions. For one, the 2018 eruption wiped out over a thousand houses and tons of vacant lots. I have two vacant lots in LZ3 that have doubled in market value since 2018 and the current recession/depression hasn't hit the values yet. Although for property tax reasons I would be okay if it did (no plan on selling). We have several new neighbors, mostly from California. Some of them moved here after losing property in the Leilani eruption, some are just new transplants.
Also the lingering effects of the destruction of the BI sugar industry that played heavily in the last 2 recessions has ran it's course.
You won’t see the housing prices free fall until the desperation selling starts. That may take 6-9+ months. Inevitably, there will be foreclosures, short sellers, and those who can make payments but can’t afford to do so.
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