Decline in Real Estate

[Beachboy]

http://www.honoluluadvertiser.com/apps/p...1/BUSINESS

http://www.honoluluadvertiser.com/apps/p...90330/1188

I'd like to know the opinion of Puna residents as to why Real Estate is so cheap on the eastside of the Big Island?



Edited by - beachboy on 11/29/2006 06:25:20

[bystander]

quote:

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I'd like to know the opinion of Puna residents as to why Real Estate is so cheap on the eastside of the Big Island?



Edited by - beachboy on 11/29/2006 06:25:20

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There's lots of reasons such as lack of infrastructure and access to amenities. Most subdivisions in Puna don't have water and some don't even have power. The distance and quality of the schools is another consideraton.

I find it amusing that the RE people say this is exactly why prices in Puna won't decline, because it's a bargain compared to anywhere else on the island. The prices here are lower for some very good reasons and IMO they are comparing apples to oranges.

[Jared I]

Beachboy:

Where would you like to start? Jobs, infrastructure, schools, coqui, lava, etc...

I think you might have left one thing out of your interesting news. The dollar tanking against the pound($1.94) and euro($1.31). Most of the european banks are looking to raise their rates, so is BB going to defend the dollar or save the consumer? Heck, Japan is even suggesting a rate increase, which could shutdown the carry trade. Ever wonder why most ARMs were tied to LIBOR (London InterBank Offer Rate)? Even if the fed cuts rates it wont save people with IO/ARM/HELOCs. We are now about to enter 12 months of an inverted yield curve, anyone know what that suggests?

[haoleboy]

Jared I:
Why did your Chargers have such a hard time last Sunday with the hapless Raiders?

Aloha
Richwhiteboy

"Every man dies. Not every man really lives."-
William Wallace



Edited by - haoleboy on 11/29/2006 18:08:50

[radioguy]

Can anyone say how far prices will fall expressed it time. In other words, will my house drop to 2000 prices, 1990 prices or 1959 prices. And when everyone's house is worthless, as all these links suggest, what will happen? What about the rest of the economy? Will all consumer goods drop? What if you have real esate that is paid for? Or if you own gold and silver. Will I be able to buy dozens of houses for $100.00? What about the hundreds of millions of people who have loans? Are banks foreclosing and there will be miles of empty houses? Where is everyone going to go? To live in a giant tent city? Why don't the stupid people with millions of dollars who just bought those condos from Donald Trump know what is about to happen? How do stupid people get millions of dollars?

[Rob Tucker]

I just saw a ten acre parcel in Utah for sale on eBay for $1 (one dollar).

Does this mean prices have bottomed out?

Punaweb moderator

[Nate SC]

Maybe it's that BIG ASS VOLCANO that looks like the top of the hill in Puna thats "fixin" to blow ??? or ?? or ?? maybe it's because those huge lava tubes that criss cross Puna will come to life one day soon ??? I see it like this, I'll take my chances and enjoy the hell out of living in Hawaii each and every day until the day the rock blows up. Were all gonna die, might as well leave the Grandkids a kickass story about hows "Pops" "bought THE Farm".
"yeah..my Grandpa was pretty cool...he lived in Hawaii...a Volcano blew up and killed him" now how cool would that be ??
Late,
Nate

[mella l]

Woo Hoo well that settles it, rips the asq out of it and I'm going with Nate! What a ride, what a story, what a legacy. Thanks Nate! Mahalos and Alohas Mella

mella l

[Ironman]

Folks:

Here is the current state of affairs nation-wide: http://realestate.aol.com/article/_a/slo...0909990001 Pretty grim overall, even places like Washington, D.C (and surrounding areas) which historically were insulated from these dramatic shifts has been hit hard. On the bright side this article has some very good coping (short/long term) strategies for the current environment. If anyone is caught in the current situation hope these suggestions help.



Will Peratino

[wyatt]

I like the way you think Nate.

Aloha
Wyatt