Housing Bubble News
News, commentary and opinion on the course of the Housing Bubble. Blogs devoted to this topic are encouraged to add their article to Zimbio for inclusion in the wikizine. All strands of opinion are encouraged with the expectation of a... [more]
News, commentary and opinion on the course of the Housing Bubble. Blogs devoted to this topic are encouraged to add their article to Zimbio for inclusion in the wikizine. All strands of opinion are encouraged with the expectation of a mature and informed level of social and economic analysis. Contributions emphasizing the macroeconomic effects are especially welcome.
Reality Check: Honolulu Housing Market Projected to Plunge in 09'
According to Money Magazine, Honolulu is projected to have one of the biggest declines in housing prices for the next year.
If you are a first time home buyer, or you are planning to buy a house with the hopes of selling it and moving up in the near future, be patient, very patient. If you buy now, you definitely stand to lose money in the next 2-5 years and possibly longer.
Honolulu -16.2%--> What does this mean for you? A median priced home of $625,000, would drop to $523,750. This means a savings of $101,250!!
If you are a first time home buyer, or you are planning to buy a house with the hopes of selling it and moving up in the near future, be patient, very patient. If you buy now, you definitely stand to lose money in the next 2-5 years and possibly longer.
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