Credit ills plague isle real estate

Credit ills plague isle real estate

There are 14 comments on the Honolulu Star-Bulletin story from Aug 22, 2008, titled Credit ills plague isle real estate. In it, Honolulu Star-Bulletin reports that:

The nationwide credit crunch has taken a toll on Hawaii's commercial real estate sector, which saw sales volume plunge 58.5 percent in the first half of the year, according to a new report.

Join the discussion below, or Read more at Honolulu Star-Bulletin.

PotentialHomeown er

Ewa Beach, HI

#1 Aug 22, 2008
This doesn't tell me anything. What's the purpose of this story that I don't already know.
djs

Kailua, HI

#3 Aug 22, 2008
I have no sypmathy for the real estate industry and their side business of property management.

Unfortunately, the industry as a whole continues to cling to its entitlement mentality and are slow to lower prices for buyers and renters.

During the last slowdown, there were tons of downtown office and retail spaces sitting vacant - not because of lack of interest but because of their refusal to negotate rents to reasonable rates.
smc

Honolulu, HI

#5 Aug 22, 2008
keep falling, baby! One day maybe some of us on regular incomes could actually buy a home. Let it fall.
Manoa

Kailua Kona, HI

#7 Aug 22, 2008
The list of major investment banks failing or being bought out by the Chinese, Saudi's, etc. is growing. It looks Lehman brothers will fail or be bought out by the South Koreans. Several regional and local banks are failing, along with Indymac. FNMA and FHLMC are on the verge of bankruptcy. Not to worry, though Federal government welfare will protect the big shareholders under regulations that provide for that. We are looking at the biggest financial crisis to face this country in years and it is happening on Bush's watch as a result of his policies.

“ Guru”

Since: Jan 08

Manhattan Beach

#9 Aug 22, 2008
smc wrote:
keep falling, baby! One day maybe some of us on regular incomes could actually buy a home. Let it fall.
Question...how many times before could you have bought a home, no matter how medest, but didn't?

“ Guru”

Since: Jan 08

Manhattan Beach

#10 Aug 22, 2008
...and, could you buy a condo now? Maybe a starter 1+1, or similar?
Mahu

Honolulu, HI

#15 Aug 22, 2008
smc wrote:
keep falling, baby! One day maybe some of us on regular incomes could actually buy a home. Let it fall.
You'll never own a home and let me tell you why. You expect to make a mortgage payment of $1,000 per month when there are thousands of others who can afford to pay $1,500 to $2,000 per month.

It's attitude. And yours is a lousy one. You are and will always be low man on the totem pole.
Mahu

Honolulu, HI

#16 Aug 22, 2008
djs wrote:
I have no sypmathy for the real estate industry and their side business of property management.
Unfortunately, the industry as a whole continues to cling to its entitlement mentality and are slow to lower prices for buyers and renters.
During the last slowdown, there were tons of downtown office and retail spaces sitting vacant - not because of lack of interest but because of their refusal to negotate rents to reasonable rates.
You are another knucklehead who will never own a home and you deserve not to own a home because you are the one with the "entitlement" mentallity.

Imagine if you said, "I will never own a car until the dealship lowers its prices from $40,000 to $5,000. These "greedy" car dealers deserve not to sell their cars."

You deserve to rent your whole life and catch TheBus to the beach.
skeptic

Kamuela, HI

#17 Aug 23, 2008
Mahu wrote:
<quoted text>You'll never own a home and let me tell you why. You expect to make a mortgage payment of $1,000 per month when there are thousands of others who can afford to pay $1,500 to $2,000 per month.
It's attitude. And yours is a lousy one. You are and will always be low man on the totem pole.
600K mortgage with $1,500 to $2,000. Sounds like liar loan to me.

Who will finance your mortgage? Freddie and Fannie are in the brink of extinction.
Mahu

Honolulu, HI

#19 Aug 23, 2008
skeptic wrote:
<quoted text>
600K mortgage with $1,500 to $2,000. Sounds like liar loan to me.
Who will finance your mortgage? Freddie and Fannie are in the brink of extinction.
Don't miss my point which may appear to be on the top of your head.

There are condos out there for 1st time buyers. Not everyone needs a $600K to $800K home. For all the whining and complaining, home ownership in Hawaii is quite high at almost 50% of all households.
Mahu

Honolulu, HI

#20 Aug 23, 2008
There were the same whiners and complainers in the 60s when home prices were $25K to $30K.
keola

Honolulu, HI

#21 Aug 23, 2008
remember if u want to buy a home dont expect the government to just hand u a home...u have to clean up ure credit, save ure money for a downpayment at least $20k..and be nice to your parents because if they have money they can loan u some for the downpayment...the hard part maybe finding a job that pays $36k a year to qualify for a mortgage at $160k.
i had to work 2 jobs and apply for an affordable apt unit...step on some doggy doo for good luck to get a unit..go look at the new waipahu condo development..if ure unable to do some research to find the name of the condo and location...then most likey u will be renting for the rest of ure life...the building was just built...get units from $160k to $290k...its small but a start up to owning a piece of the american dream....good luck...
djs

Kailua, HI

#22 Aug 25, 2008
Mahu wrote:
<quoted text>You are another knucklehead who will never own a home and you deserve not to own a home because you are the one with the "entitlement" mentallity.
Imagine if you said, "I will never own a car until the dealship lowers its prices from $40,000 to $5,000. These "greedy" car dealers deserve not to sell their cars."
You deserve to rent your whole life and catch TheBus to the beach.
So sorry to disappoint you...I do own a home (or at least my credit union does). I bought my tiny, cheap condo during the 'last' crisis - under $100K and fee simple to boot. I had agents all over the place trying to tell me stupid stuff.... I held out and got what I wanted at a price I was willing to pay.

These same clowns are telling me to sell at $300K. Yeah right, so I can be homeless on the beach too.
skeptical

Ewa Beach, HI

#24 Aug 25, 2008
djs wrote:
<quoted text>
So sorry to disappoint you...I do own a home (or at least my credit union does). I bought my tiny, cheap condo during the 'last' crisis - under $100K and fee simple to boot. I had agents all over the place trying to tell me stupid stuff.... I held out and got what I wanted at a price I was willing to pay.
These same clowns are telling me to sell at $300K. Yeah right, so I can be homeless on the beach too.
It's all about commission.

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