05-31-2018, 05:12 PM
A pessimistic view is that all or parts of zone 3 (in East Hawaii) will be adversely affected as people recall the 1984 lava flow that threatened Hilo (it came within 4 miles of upper Hilo [story below]) and consider a Mauna Loa eruption more likely.
That might be offset by significant rent increases in properties throughout zone 3 because of the evacuations. This could act as a positive force on the value of zone 3 properties.
I've been wondering about this dichotomy as well. Even without any weird psychological effects of feeling like zone 3 is more problematic now, having a lot worse vog could be bad if the eruption goes on for a long time. On the other hand, 1500 people suddenly needing long-term homes, and many more requiring at least short term housing, puts quite a squeeze on supply.
That might be offset by significant rent increases in properties throughout zone 3 because of the evacuations. This could act as a positive force on the value of zone 3 properties.
I've been wondering about this dichotomy as well. Even without any weird psychological effects of feeling like zone 3 is more problematic now, having a lot worse vog could be bad if the eruption goes on for a long time. On the other hand, 1500 people suddenly needing long-term homes, and many more requiring at least short term housing, puts quite a squeeze on supply.