Mortgage Crisis Underwater in HI

[cynmkolohe]

Originally Posted by Jonah K

I would've simply stated the following...

If you can afford it, now is a good time to purchase a second home in some parts of Hawai'i.

I started composing an answer to the OP last night, but was using my Droid phone and gave up because these forums are not exactly mobile friendly (we don't have internet where we are temporarily renting in Waimea). Jonah, that was exactly what I was going to say--you just captured it so much more simply!

I'll add that there are hints of good news starting to make their way into the discussion of even the Big Island real estate market. This recent article is an example: Forecast: Big Island economic recovery begins. I'm not going to go so far as to say that I'm overly excited by this economist's take on things, but I do think that, for some people, this is a good time--especially if you qualify for the low interest rates and you find the right property for your lifestyle/future goals.

[K'ledgeBldr]

I was actually be sarcastic about the "second home" bit.
A rising foreclosure problem effects everyone eventually. Loss of tax base, loss of value, smaller potential buyer pool, etc. With HI being it's own little world (in a matter of speaking)- those circumstances become even more concerning to the state as a whole.

[eureka1]

My relatives have a condo in Lahaina that they are having a terrible time keeping rented. If they didn't have good incomes from California they would definitely be looking at foreclosure. Lots of opportunity for those who can afford to carry a nonperforming property.

[KAILANI]

Originally Posted by K'ledgeBldr

Ranks of underwater home mortgages swell in Hawaii

Maybe now is a good time to buy a second home.(?)

Underwater homes-where's these being built?