|
Housing Bubble in Puna?
|
|
03-06-2008, 05:17 AM
quote:Question: What were they worth about 2 years ago. And how long have they been on the market? ------- Today in History The Supreme Court ruled in Dred Scott v. Sandford that slaves were not citizens, 1857 
03-06-2008, 05:48 AM
I tend to see it as John sees it. I just sold two lots in HPP in a private sale. During the life of ownership, the property appreciated at over 10% each year. It even appreciated over 10% from last year to this year. People are saying prices are down, but I think they are saying prices are down from the artificial high they could have sold when people were paying way over the true value. The fact someone overpaid between 2004 to 2006 doesn't mean the current price is a reduction. Those who bought high during 2004-2006 simply overpaid and the seller reaped the rewards. If I got a dime from the bank in 2000 for 10 cents and you bought it from me in 2005 for thirty cents, does that mean the dime lost 70% of it's value if all you can get for it today is 10 cents? No, it just means you overpaid back in 2005.
03-06-2008, 06:01 AM
quote: Well I see you are still in denial or trying to save face. Face it, you were dead wrong two years ago when you said RE would continue to go up. In some other posts you admitted the market has gone south. Why the flip flopping?
03-06-2008, 06:04 AM
The median price of a single-family home on the Big Island in February was $395,000, a 7 percent decrease from February 2007, when it was $425,000...
According to this article ------- Today in History The Supreme Court ruled in Dred Scott v. Sandford that slaves were not citizens, 1857
03-06-2008, 06:59 AM
Well you don't give up either do you? I knew you would lured to respond. Your responses are making you lose even more credibility than you already have. It's always a great time to buy right?
I guess you object to my use of the word "bubble". Well then if I said we are in a period of rapidly declining RE prices would you still deny it? Lots in HPP were going for 80K, now you say people are trying to unload them for 40K. I think prices will erode even further. You ain't seen nothin' yet.
03-06-2008, 07:43 AM
What is interesting and beneficial about this thread is that it is educational: if I didn't learn the complete lesson after the tech bubble burst, I have now had a chance to fully grok the economics lesson. During the tech run-up, wiser heads were saying things like, "What goes up, must come down." and there was much talk of the tulip boom and bust. Well, well. Turns out these guys were right. It all returned to historical levels of gain. And anyone who bought high and didn't sell high got a tough lesson.
There is absolutely no reason to make anyone wrong. If you got the lesson--isn't that enough? For one thing, everyone's experience is different. John's purchase in 2002 illustrates the premise: buy low and sell high. Realtors are optimists--they have to be. They wouldn't be in business if they weren't. An economic advisor might have told you not to buy at the highs of the market--but would you have listened? If you need a tooth pulled you don't go to an accountant. It is so easy to get swept up in the mania. I see prices skyrocketing and I'm afraid I'll never be able to afford a house. It's human nature to jump in. Fear is motivating me. How difficult it is to wait and gamble that prices will come down. Humans have trouble with that. I hope no one on this forum has to sell right now. I wish the best to you all. Well, JaredI, did you buy or did you wait? You seem like a guy with a clear head on his shoulders. Did your clarity and luck hold up? This thread could continue to be educational if we would focus on posting present day prices and our own experiences. What is the price of a lot in Hawaiian Shores going for at present? april
april
03-06-2008, 07:52 AM
I bought some land at or near the high price mark. I truly don't much care that prices seem to have receded now. I bought for long term. Might I wish that I had a crystal ball? Yeah. I guess. But I bought when I bought and now I get to do the things I wanted to on that land.
Assume the best and ask questions.
Punaweb moderator
03-06-2008, 08:41 AM
All's not lost, America is on sale watch the foreign investors trickle in.
What was the reason for the downturn anyway? It seemed like all the investors said it was gonna burst, people got wary and then it did. Hopefully its just a correction, buy while ya can! lol
03-06-2008, 08:59 AM
quote: I remember you saying this in another thread. As someone else said, that's like blaming bad weather on the weather man. Having you been readng the news? There's lots of sound and solid reasons behind the decline. It's not just hysteria driven fear hyped by the media as you claim. Big time investor/speculators like Rabi said it would never burst. It's people on the sidelines like me that said it would burst. It is a correction but how long it will last and how low prices will go are the big questions.
03-06-2008, 09:29 AM
Guess your not reading the news either thanks for not answering my ?.
I guess folks emotions have nothing to do with the markets either. Maybe you can give your analysis as to why the stock market is crashing. Weren't you gonna buy cheap property in Royal Gardens? |
|
« Next Oldest | Next Newest »
|
!]
