10-06-2006, 04:25 AM
The median home price on the big island is up 14.53% in the 30 day period from august 2006 to sept 2006. Or down 4.07% from the all time high of $447,500 set in June of 2006. There is no melt down. Its a correction. Prices are down in L.A., about 10%. People who can't afford the houses they bought will lose them. Somebody else will step up to the plate and buy the house from the bank. Everything is for a reason. Think long term, like 5 to 15 years. Any property NEAR THE WATER will be up 50 to 100%. long term. Do you really think a acre lot in HPP is going back to $10k or $15k? I notice that people who don't own real estate are more likely to be negative about the future of prices because it supports their view that some magic moment in the future will be better to get in.
And yes, right now is a better time to be buying than say 12 months ago, but it is not a melt down. Anyway, stay the course, thousand points of light, book em Dano, be there, Aloha.
And yes, right now is a better time to be buying than say 12 months ago, but it is not a melt down. Anyway, stay the course, thousand points of light, book em Dano, be there, Aloha.