Decline in Real Estate

[bystander]

Here's a good one:
http://biz.yahoo.com/weekend/realbubble_1.html

"For the past five years, the housing bulls have been trotting out one rational-sounding argument after another to explain why the boom made perfect economic sense.

Forget about a crash, they assured homeowners. Expect a "soft landing" where your three-bedroom colonial in Larchmont or Larkspur not only holds onto its huge price gains, but keeps appreciating at a "normal," "sustainable" rate of 6 percent or so into the sunset.

Americans wanted to believe, and they did. Now, the giant popping noise you're hearing is the sound of yesterday's myths exploding like balloons pumped up with too much hot air."

I think those of you who believe Hawaii's realestate market is insular from the mainland are dead wrong. If the mainland market collapses so will Hawaii's.