Sunday, January 13, 2013

Home prices going up

There is no doubt, home prices are going up in Oahu and Maui. 5% to 10% over the last year or so, some areas even more, like the ritzy Hawaii Kai where people are once again getting into bid wars, one realtor reporting a property that sold $100,000 over the asking price of $800,000. Kauai and Big Island actually still dropped year over year, 4.2% and 1.1% respectively. Silliness once again. Who knows...maybe more people are just preferring to hold hard assets and pay back that debt with useless dollars, however, a house is not really an "asset" or certainly not an income producing asset.

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Insightful and Useful Comment!