12-22-2010, 01:14 PM
my first post so hello everyone!
yes, i live in North Kohala but i'm going back to school at UH Hilo and will most likely invest in a small property in Puna to more comfortably navigate the next 4-5 years. this is a pretty cool site to get some inside scoops!
on topic...my Dad told me long ago if you can't afford a house with a 30 year fixed mortgage with the going rate....you can't afford the house. i have always lived by this conservative attitude toward real estate so it bothers me to pay for others mistakes/foolishness. although i really feel for people who took out conservative mortgages with solid down payments who are now underwater, if they did their due dilligence they should be able to make their payments and are merely stuck until the market returns.
real estate, like any investment, is a risk. for those that lost their jobs or have a medical reason i think there should be help but what a task it seems to determine who was foolish and who was simply unlucky.
the real problem was the Govt. intervention that eased lending policies. this was the flashpoint that caused this whole mess. it would seem more Govt. intervention is the last thing we should do. a choice example of the Feds interfering with the free market process and screwing everything up.
aloha
yes, i live in North Kohala but i'm going back to school at UH Hilo and will most likely invest in a small property in Puna to more comfortably navigate the next 4-5 years. this is a pretty cool site to get some inside scoops!
on topic...my Dad told me long ago if you can't afford a house with a 30 year fixed mortgage with the going rate....you can't afford the house. i have always lived by this conservative attitude toward real estate so it bothers me to pay for others mistakes/foolishness. although i really feel for people who took out conservative mortgages with solid down payments who are now underwater, if they did their due dilligence they should be able to make their payments and are merely stuck until the market returns.
real estate, like any investment, is a risk. for those that lost their jobs or have a medical reason i think there should be help but what a task it seems to determine who was foolish and who was simply unlucky.
the real problem was the Govt. intervention that eased lending policies. this was the flashpoint that caused this whole mess. it would seem more Govt. intervention is the last thing we should do. a choice example of the Feds interfering with the free market process and screwing everything up.
aloha
Aloha,
Michael
Michael