02-09-2015, 06:24 AM
I occasionally fancy myself knowledgeable about real estate markets, but am baffled after reading this:
http://www.bizjournals.com/pacific/blog/..._lulu_rdup&s=newsletter&ed=2015-02-06&u=P8xMf0G0mSnp5SfsS42+6A06958d49&t=1423243392
In particular: "The median price in the Puna district rose 16 percent to $186,270, from $160,000 in January last year." Keep in mind that the decisions to buy this January's purchases were made back around Thanksgiving, when Pele was still menacing Pahoa (still is, for that matter). I'm pretty sure flowing lava and uninsurable houses should make prices go down, not up. [Edited typo]
http://www.bizjournals.com/pacific/blog/..._lulu_rdup&s=newsletter&ed=2015-02-06&u=P8xMf0G0mSnp5SfsS42+6A06958d49&t=1423243392
In particular: "The median price in the Puna district rose 16 percent to $186,270, from $160,000 in January last year." Keep in mind that the decisions to buy this January's purchases were made back around Thanksgiving, when Pele was still menacing Pahoa (still is, for that matter). I'm pretty sure flowing lava and uninsurable houses should make prices go down, not up. [Edited typo]