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Home sales drop on Big Island
I made the decision in '94. The question was either slave all my life to pay for Hawaii home or come to Texas to pay off home in five years. Brick home on 3 acres. woodworking shop next to my house. Paid off. I now have enough money left over after my utility/food costs to save for my Hawaiian house. I'm almost there.
When asked if the housing crisis will end in mid09 , Professsor N. Roudini replied maybe by the end of 2010. If that is true the effect of the housing crisis will persist in Hawaii till 2011. I think we're just begining to realize what has happened in the mainland real estate market. Many factors play into this dour scenerio. Prices will continue to drop making housing prices more attractive. However the banks will continue to tighten credit and cost of living in Hawaii will scare potential buyers away. I love the optimism of realtors like Mr. Fuster but we are in the early stages of the perfect economic storm. By the way Prof. Roudini ,aka Dr. Doom, predicted our housing crisis 34 years ago. People laughed at him then but not anymore.
Koloa kimo wrote:
I made the decision in '94. The question was either slave all my life to pay for Hawaii home or come to Texas to pay off home in five years. Brick home on 3 acres. woodworking shop next to my house. Paid off. I now have enough money left over after my utility/food costs to save for my Hawaiian house. I'm almost there.
I am very proud of you. That shows how you can make your dream come true without giving you life to financial slaverly. Been to Hawaii a few times and like it and really like the aloha of most of the people. You sound like us, we never got in debt, credit cards, cell phones, etc. If we wanted something, we layed it away. Retired at 57 with money in the bank. Never made more than 38000 gross. And,[url=http://www.sport.fr/business/louisvuitton.html]louis vuitton paris[/url], our neighbors are always complaining they can't afford to go out. I don't feel sorry. Use your credit cards more or run up you cell phone to a couple or three hundred dollars per month. We have a land line and a tract phone.
I inherited property in Hilo and my tax bill has outrageously increased so while it's great that some people fall in love with Hawai'i their decision ultimately affects many local people. Unfortunately some people value their appreciable assets over people. I wish there was more balance in that area where investors and speculators were fair and reasonable to local people (both Hawaiian and nonHawaiian.) In my experience many only look at the appreciation while disrespecting local people. Some of them froth at the mouth focusing on their appreciable assets instead of treating people with kindness and respect.
glenn paul wrote:
I am very proud of you. That shows how you can make your dream come true without giving you life to financial slaverly. Been to Hawaii a few times and like it and really like the aloha of most of the people. You sound like us, we never got in debt, credit cards, cell phones, etc. If we wanted something, we layed it away. Retired at 57 with money in the bank. Never made more than 38000 gross. And, our neighbors are always complaining they can't afford to go out. I don't feel sorry. Use your credit cards more or run up you cell phone to a couple or three hundred dollars per month. We have a land line and a tract phone.
Hi Glenn. That's a huge accomplishment but in my experience it helps having a good baseline to work with. For me I didn't have rich parents or even a home so it was extremely difficult to survive. Nowadays those who are poor have an extremely difficult time to be able to afford the basics like food and shelter. They don't have enough money for a cell phone. I know how difficult it can be though because I was super poor and I can say from personal experience for some people it is extremely difficult. In Hawai'i it is more magnified with higher prices for food, shelter, gas, etc. The basics. Surviving in Hawai'i is not easy but yes. it can be done. Many people like me who were super poor than left to make a living and make a life eventually return but in the mean time. it is extremely difficult for some of us. Aloha, LBig Island home prices have been dropping for well over two years now, but every month the StarBulletin finds some realtor who thinks things are looking up. They are either on happy pills or flat out delusional. If things go on this way, real local residents may actually be able to afford to own a home and live here instead of moving away. Imagine that. The realtors don't like it when the speculator market dries up and will say anything to avoid the truth.
Realtors are in total self denial, their greed got themselves in the current enviorment. Suck it up. They have their pensions and inheiritance from their parents. Po'ipu and from Anahola to the end of the road on the northshore is all affluent haoles from the mainland. Where did all the Hawaiians go?What's your point? With a name like Gustavo, you don't sound too Hawaiian to me.
Anyway, we make our own bed. If you can't be selfdisciplined enough to work hard and save up holding off from going out to eat and indulging in a lot of other forms of entertainmentthen you have no business even thinking of buying a home. I guess those of us who are hardworking will be renting to you.