New store open in Hilo

[oink]

Residential real estate traditionally goes in 7 year cycles. The severity of the last bust was due to Gov. interference in the market causing the market to go too long before the correction, making it severe when it occurred. It was late in hitting Hawaii but arrived none the less, as the next will. This next bust could also be severe as the Gov. again screwed up the natural cycle by artificially suppressing interest rates for so long. With the Gov. so willing to tinker with stuff it's hard to predict when the next correction will occur but I'd sure be leery of jumping into the market during the current situation. It has nothing to do with wishing anyone ill will or a lack of sympathy, empathy or compassion or political leanings. It's just the way things are. If HOTPE hadn't scooped up the foreclosures the bank still wasn't going to give them back to the former owners.