07-26-2006, 05:47 AM
The educated look at a tree instead of the forest. The media "bubble scare" started two years ago on the Big Island. However, prices still solidly increased and the number of sales did not drop during the first year. Needless to say, the media got scared and started talking about an even bigger bubble. The number of sales started dropping in October of last year but the median house prices were still up compared to a year ago as recently as in May of this year!
The NAR represents the real estate industry and agents everywhere in the USA and they don't publish regional data.
They expect 50,000 people to move to Puna during the next 10 years. That's a fully developed HPP almost six times! One just need to look at the commercial activity on the East side. I already saw the same thing happening 10 years ago here in Kona.
There always will be negative people who miss the train and will tell the others who also missed the train that the train will crash. However, the train safely make it to the next stop before going further on.
I will not post anything anymore in regards to this subject. I bought four properties just last year and my Sister is closing on her third one next week. We believe in real estate more than we believe in corrupt CEOs of publicly traded companies.
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB,RB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185
The NAR represents the real estate industry and agents everywhere in the USA and they don't publish regional data.
They expect 50,000 people to move to Puna during the next 10 years. That's a fully developed HPP almost six times! One just need to look at the commercial activity on the East side. I already saw the same thing happening 10 years ago here in Kona.
There always will be negative people who miss the train and will tell the others who also missed the train that the train will crash. However, the train safely make it to the next stop before going further on.
I will not post anything anymore in regards to this subject. I bought four properties just last year and my Sister is closing on her third one next week. We believe in real estate more than we believe in corrupt CEOs of publicly traded companies.
quote:
Housing on the National scene...
“Instead of being a seller’s market,” he said, “it became a buyer’s market. And once the psychology changes, it could take a while to reverse. Buyers recognize there’s no need to rush out to buy a home.”
The latest housing data, released yesterday by the National Association of Realtors, made clear that a significant slowdown is under way. It showed that the sales pace for existing homes fell for a third straight month in June — the ninth monthly decline since hitting a record last June.
http://www.nytimes.com/2006/07/26/business/26home.html?_r=1&ref=business&oref=slogin
Ajit
Edited by - adias on 07/26/2006 05:15:46
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB,RB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185