Is Hawaii's Housing Bubble Bursting

[scoozie2]

Originally Posted by cynmkolohe

Hawaii foreclosures down 22% in May - Pacific Business News (Honolulu):

Note this one in particular to see how recent Hawaii forclosure numbers compare with other states. The headline refers to the previous month's numbers. Stats for last year are noted in the article.

This might be a perfect example of sugarcoated media material. The Honolulu Advertiser came out with an article saying that foreclosures in Hawaii were up 26%! Both your story and the Advertiser are using the EXACT same stats, yet, they have totally opposite views! WOW!!! My point made - LOL. The foreclosure rate rising 26% (non-sugar-coated) story can be found on the link I provided in the previous post.

[SavannahPalm]

Anyone willing to speculate when would be a good time to sell a house on the mainland and buy in Hawaii?

Seems like the housing market will stabilize here in the south within the next year, whereas Hawaii is just starting to see a decline. I'm guessing another 2 years might be the prime time relocate while getting the most house for the money.

[whynot?]

We bought our house pre-9/11. (Actually closed on 9/10/2001, to be exact.) Despite the fact that the following months were dreadful for tourism (as TSA was born and ramped up), prices continued to spiral upward until the past few months.

"Timing the market" seems to me to be mostly an "afterthought"/recognition/brag both in the stock and real estate markets. "It depends," as I say too often on these posts.

The super-yacht business is booming as I type: The Wealth Report - WSJ.com : Superyacht Market Stays Strong

"Separating the sheep from the goats?"

[MadRussian]

Originally Posted by whynot?

"Separating the sheep from the goats?"

Exactly! In times like this poor going down, rich going up. Middle class more and more become poor.
Call me “conspiracy theorist” but I’m still thinking gas and food prices result of speculation, not healthy market. Somebody is making enormous amount of money on that.
Same with current housing market on HI. How come prices got that much up, so local working people can’t afford ANY HOUSE!? I know a lot of retirees with money move to islands, but somebody has to work to let support them. … and that somebody have to live somewhere. I know few people on Maui, all of them work more then one job to survive!

[PalmSpringsDan]

Originally Posted by MadRussian

Exactly! In times like this poor going down, rich going up. Middle class more and more become poor.
Call me “conspiracy theorist” but I’m still thinking gas and food prices result of speculation, not healthy market. Somebody is making enormous amount of money on that.
Same with current housing market on HI. How come prices got that much up, so local working people can’t afford ANY HOUSE!? I know a lot of retirees with money move to islands, but somebody has to work to let support them. … and that somebody have to live somewhere. I know few people on Maui, all of them work more then one job to survive!

I agree 100% with what you're saying. Sad when local working families are struggling to live in their own state