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Is the real estate bubble in Hawaii going to crash? Well, bubbles usually do. Conspicuous by its absence is a discussion on the very high real estate values in Hawaii. That is odd since it is the most unaffordable state in the US, yet the internet is ablaze with posts about it everywhere else. Perhaps it’s because we’re ignored by those who collect and analyse data on real estate. Without knowing what is going on, how can buyers and sellers make informed decisions. The HAR produces two publicly available statistics; medial prices and sales. This doesn’t tell you very much. The data is collected on the MLS, so could be made available for public scrutiny. What we do know from the NAR is that Honolulu is top of the list of US metropolitan areas for unaffordability. So where is the anger? Where is the frustration? Where is the inquiring mind that asks the right questions? Are we going to let this beast ride rough shod over us again? Stay informed. Educate yourself. Don’t accept things at face value. Things are crazy again.
The majority of housing units in Hawaii are owner occupied - roughly 57%. I'd say they are fairly happy at the moment especially if they had taken out low interest HELOC's or cash out refi before interest rates went up - or, in my case - sold off the portfolio.
No need to disenfranchise the majority. Taxpayers aren't always eager to reward freeloaders.
The burger flippers will always be angry I suppose - they could always move to Pittsburgh.
Is the real estate bubble in Hawaii going to crash? Well, bubbles usually do. Conspicuous by its absence is a discussion on the very high real estate values in Hawaii. That is odd since it is the most unaffordable state in the US, yet the internet is ablaze with posts about it everywhere else. Perhaps it’s because we’re ignored by those who collect and analyse data on real estate. Without knowing what is going on, how can buyers and sellers make informed decisions. The HAR produces two publicly available statistics; medial prices and sales. This doesn’t tell you very much. The data is collected on the MLS, so could be made available for public scrutiny. What we do know from the NAR is that Honolulu is top of the list of US metropolitan areas for unaffordability. So where is the anger? Where is the frustration? Where is the inquiring mind that asks the right questions? Are we going to let this beast ride rough shod over us again? Stay informed. Educate yourself. Don’t accept things at face value. Things are crazy again.
*Anger*? About what? Something personally uncontrollable? What are you proposing random internet social media readers do about national (and international) market and cultural forces? Chatter *angrily* until all humanity comes to its senses?
The majority of housing units in Hawaii are owner occupied - roughly 57%. I'd say they are fairly happy at the moment especially if they had taken out low interest HELOC's or cash out refi before interest rates went up - or, in my case - sold off the portfolio.
No need to disenfranchise the majority. Taxpayers aren't always eager to reward freeloaders.
The burger flippers will always be angry I suppose - they could always move to Pittsburgh.
*Anger*? About what? Something personally uncontrollable? What are you proposing random internet social media readers do about national (and international) market and cultural forces? Chatter *angrily* until all humanity comes to its senses?
Actually, it would be a pretty good start. Thank you for the suggestion.
As for market forces, there’s probably a good local library near you somewhere.
I will not get upset about the High real estate prices will do no good! Just watching and waiting for what ever happens to the bubble.
I respectfully disagree. Getting upset about things that matter is both a civic and moral duty. It’s what motivates people to take action. Letting your views known to those you elect plants the seeds for change. Informing others so they can make better decisions clearly helps them. So, get upset about things, it’s good for you. But before you do make sure you’ve done your homework. It’s actually much more rewarding than hollow opinionating.
Actually, it would be a pretty good start. Thank you for the suggestion.
As for market forces, there’s probably a good local library near you somewhere.
Quote:
Originally Posted by Freckles212
I respectfully disagree. Getting upset about things that matter is both a civic and moral duty. It’s what motivates people to take action. Letting your views known to those you elect plants the seeds for change. Informing others so they can make better decisions clearly helps them. So, get upset about things, it’s good for you. But before you do make sure you’ve done your homework. It’s actually much more rewarding than hollow opinionating.
Why would I (or anyone) need a library? It’s the information-at-your-fingertips-age … and I have over 50 (adult) years experience with Hawaii.
What is it you think politicians could do to control real estate [and its pricing] in our capitalist, free-market economy?
Getting upset about things that matter is both a civic and moral duty.
Getting upset is a complete waste of time without offering solutions that are actionable. Jump up and down all you want - it won't accomplish anything.
Freckles, since all of your 22 posts on City-Data have to do with the high cost of housing, and since I don't really think that you are interested in buying in Hawaii, I have to assume that you would like to buy a house somewhere but are currently being priced out. And I think that you've found City-Data forums as a way to vent your frustrations.
What's amusing is that you think that it's our civic and moral duty to complain about something that is market driven. Yes, housing prices are high all over the country. I would be interested in hearing your suggestion as to what kind of action you are proposing to take. Are you going to complain to the National Association of Realtors and try to convince them that they need to be advertising properties for lower prices? Do you suggest that people organize and complain to sellers to try to get them to lower their asking prices?
By the way, the definition of "civic duty" is to insure that the democratic values written into the Constitution and Bill of Rights are upheld. How does complaining about the price of housing become a civic duty?
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