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Are their properties their that you can use a USDA loan on? I wasn't familiar so I looked up some parameters but still confused on what type of properties you can use it on. I worked as a loan officer for a couple years and never did one.
If you need some kind of govt MEAT loan to buy a house in HI YOU arent qualified to buy one. ITS the truth
Yes renting is safer, but you will definitely lose all of the money you give to the landlord. That said, a better strategy is buy and hold, if you can. The market can go flat, but Hawaii (Oahu specifically) has doubled every 11 years since 1985 according to the Honolulu Board of Realtors.
Yes renting is safer, but you will definitely lose all of the money you give to the landlord. That said, a better strategy is buy and hold, if you can. The market can go flat, but Hawaii (Oahu specifically) has doubled every 11 years since 1985 according to the Honolulu Board of Realtors.
Warren Buffet made tons of money when he was small to medium sized. He is definitely not producing anymore-unless he cheats( govt largesse).
Moral-trees dont gro 2 the sky. The law of large numbers is a real law..........................lol.
you will definitely lose all of the money you give to the landlord.
No, you don't. You exchange that money for a place to stay.
If you buy, you exchange THAT money for a place to stay. You also give up a lot of freedom, especially if you picked the wrong place. The wrong place is also more difficult to get out of, even at a loss.
You don't own stuff, STUFF owns YOU. And that goes double for real estate.
Nobody is questioning that you're getting something of value for your $1500 or whatever, if that weren't the case, you'd be exchanging the money for nothing. What he/she is saying is that if you rent, all of the money is spent (maybe lose is bad terminology) with none of the funds going towards equity or savings account or investment account.
If you buy and eat a candy bar, the entire purchase price of the bar is consumed (or lost). Same concept.
There are two properties located at 4631 Kahala Ave. You are confusing two separate parcels.
And even if your data was correct, it's still not tripling.
That is a special case. The property belonged to Gensiro Kawamoto. He was convicted on tax evasion and served prison sentence in Japan at the time of transaction. His agent sold most his properties in Kahala in a bundle at a heavy discount.
But I disagree to pick the year 1980 as the benchmark year. Many properties in Oahu are recently sold at double the price or more as compared with 10 years ago.
The real estate boom in Hawaii is not only related to tourism. Many new buyers, like those from China, aim to park their money here due to many factors, i.e. political stability (vs potential political instability back home), relatively inexpensive as compared to the skyrocketing real estate price back home, cultural affinity due to large Asian population on island,....etc.
So even if tourism revenue goes down, it may not affect their desire to continue purchasing properties on the islands.
That is a special case. The property belonged to Gensiro Kawamoto... His agent sold most his properties in Kahala in a bundle at a heavy discount.
Many properties in Oahu are recently sold at double the price or more as compared with 10 years ago.
Yes, it is a special case. These are the "examples" many CDF members provide. Their special case examples are in no way indicative of the broader local market.
As for your statement about properties doubling or more since 2006, that is absolutely not true. Most properties have appreciated since 2006 but a 100%+ increase is extremely unlikely unless it went through a major renovation/rebuild OR the property was purchased far below market (see your example above). The typical Oahu property is worth about 20-30% more today than in 2006 (same property NO improvements). This data is supported by the Honolulu Board of Realtors and not by some cockamamie "examples".
The real estate boom in Hawaii is not only related to tourism. Many new buyers, like those from China, aim to park their money here due to many factors, i.e. political stability (vs potential political instability back home), relatively inexpensive as compared to the skyrocketing real estate price back home, cultural affinity due to large Asian population on island,....etc.
So even if tourism revenue goes down, it may not affect their desire to continue purchasing properties on the islands.
I partially agree. Properties in Waikiki will be disproportionately impacted by the general health of tourism on Oahu. When tourism is strong, properties in Waikiki will see prices push upward. When tourism suffers, prices will be pushed downward. Outside of Waikiki, home prices are impacted to a much lesser degree by the ups and downs of the tourism industry.
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