How does your local economy feel?

[oink]

My personal prediction is that the Hawaii market won't find the bottom for 18 to 24 months, at the very best. Elsewhere where the market was hit harder and earlier, you will find an earlier recovery as the excess inventory in those markets gets eliminated by the bottom feeders. In my area we are seeing some increases in sales which I believe will soon result in an effective inventory reduction. However, a large percentage of these are short sales, so an increase in property values will be very slow. I think Hawaii has yet to go through this very painful period of adjustment. The current stock market crisis will, I believe, accelerate the process. Hawaii has always been a different market and experiences a delayed reaction to economic downturns. For the most part, the people hurt most and first by economic downturns are not those that drive most of Hawaii's housing market. That's not a value judgement on what should or shouldn't be, but what is, IMHO.

Pua`a
S. FL
Big Islander to be.