Million-dollar mansions just ain't what they used to be

[Miulang]

Re: Million-dollar mansions just ain't what they used to be

just my .25 for today.

now THAT'S inflation!

Miulang

[Konaguy]

Re: Million-dollar mansions just ain't what they used to be

now THAT'S inflation!

Miulang

Well in some cases what I write can be overly inflated
Hence why I wrote just my .25

[tutusue]

Re: Million-dollar mansions just ain't what they used to be

[...]Before I took out my pension from my former company's plan, it was only making about 3% annually, only a little better than a savings account in the bank.

Miulang

Emigrant.com is now at 4.25%. So far, so good for something low risk and better than a bank. That's where I keep my 'savings account' (6 months worth of expenses). Ah heck...Suzi Orman recommends it. If she's good enough for Oprah, she's good enough for me!

[kamuelakea]

Re: Million-dollar mansions just ain't what they used to be

Kamuelakea, I got a question for you ? Are you in the real estate industry ?
I'm curious as it seems you have this crystal ball, saying all this chicken
little "the sky is falling" stuff. I'm not trying to begrudge your opinion, but
it seems you are extremely cynical (based upon what you've posted). It
seems your just angry how expensive housing has gotten, thus pricing
the locals out of the market. I personally see the market leveling out,
not a repeat of the early 1990s Japanese bubble pop.

just my .25 for today.

I am cynical and angry. That's me. Kalamai. But not about real estate prices.

Sky isn't falling. Surf still roll. Sun still will shine.

I am not in the real estate industry. I juss no plenny kine stuff. Went public skool too.

Actually, I'm not angry about housing costs at all. See, unaffordable housing is a self correcting problem. The market will always bring prices back to equilibrium. That means that sales prices to rents, and sales prices to incomes and sales prices to interest rates must make sense. They don't right now. They will correct. Either rents will double or sales prices will half or they will meet somewhere in between.

[Konaguy]

Re: Million-dollar mansions just ain't what they used to be

I am cynical and angry. That's me. Kalamai. But not about real estate prices.

Sky isn't falling. Surf still roll. Sun still will shine.

I am not in the real estate industry. I juss no plenny kine stuff. Went public skool too.

Well as far as I read your posts that hit me right off the bat, you are
really cynical and angry. I'm lucky I haven't reached that point
in my life, as I just turned 30. I try to look at things postively
as it isn't terribly healthly (atleast for me) to be so cynical and
angry. I try to make the best of whatever situation I'm in.

As far as your posts in this thread, you've made assertions that
the "sky is indeed falling" at least with real estate. Yes there is
indications the market is softening. But that doesn't mean the
bottom will fall out any time soon.

[kamuelakea]

Re: Million-dollar mansions just ain't what they used to be

Yes there is
indications the market is softening. But that doesn't mean the
bottom will fall out any time soon.

I am also clairvoyant.

Let me guess????

You bought a 2bd/2ba within the last 12 months????

How did I know that?

Aloha

[tutusue]

Re: Million-dollar mansions just ain't what they used to be

Have to know the context. Timkona is in the business of inflating appraisals so the the suckers can get the loans so that the banker and the real estate agent can make alot of money off of a loan that is probably going to go bad but they all don't care because they will sell the loan within days to Fannie Mae. Thats the slut and whore reference. I know I have to explain more to some people like tutusue. No worry tutu, Kamuela go slow foah da kupunaz.
[...]

No need! I've been investing in real estate for 40 years. I wasn't questioning the explanation; rather the need to lower oneself to name calling. I just believe that name callers demean themselves, not their targets. Ya know..."resentment is like taking poison and hoping the other guy dies". 'Nuff said.

[kamuelakea]

Re: Million-dollar mansions just ain't what they used to be

No need! I've been investing in real estate for 40 years. I wasn't questioning the explanation; rather the need to lower oneself to name calling. I just believe that name callers demean themselves, not their targets. Ya know..."resentment is like taking poison and hoping the other guy dies". 'Nuff said.

Some cultures, prevalent in Hawaii, pride themselves on never speaking ill publically. But we all know they are the worst trash talkers behind closed doors. Your culture might say keep your mouth shut. My culture says call um like you see um. Nuff Said.

[Konaguy]

Re: Million-dollar mansions just ain't what they used to be

Let me guess????

You bought a 2bd/2ba within the last 12 months????

How did I know that?

Looks like your crystal ball needs to go into the shop
Since I'm a working stiff, there is no way I could afford
a house here. That being said, I stand by my prognostication
that that there will soft landing in regards to housing prices
at least in Hawaii.

Your sky is falling view creates undue fear
and trepidation.In other words yes prices will drop, but I don't
think we'll see a huge price decrease. Why worry about it
when A. You have no control over it B. It just causes undue
stress.

[kamuelakea]

Re: Million-dollar mansions just ain't what they used to be

No need! I've been investing in real estate for 40 years.

No wonder you don't like hearing people point out the inflated prices and the historical evidence that prices are bound to bust, ..... just as they did before.

You have a lot to lose in this game, huh? No wonder the "slut and whore" labels bothered you. It wasn't the concept of "namecalling" so much as the names might apply to you.

[shaveice]

Re: Million-dollar mansions just ain't what they used to be

i wonder if anyone here has any personal experience or just general comments about foreclosures; that is, do you think it's generally a good way to get a pretty good deal or not.

one thing i heard--i don't know if it's just an urban legend--is that the home/apartment is usually trashed by the previous owner out of anger/frustration and that the new owner will just have to assume the cost of fixing whatever damage was done....

[Miulang]

Re: Million-dollar mansions just ain't what they used to be

I know in the 70s, when Seattle's economy wasn't as diversified as it is now, when Boeing went bust and there was a billboard saying "Will the last person leaving Seattle please turn out the lights?", housing prices really took a nosedive. I wish I had been in this town when that happened! You could get a 3-bedroom house (in 1970s dollars) for about $26k. Not too long after that, the stock market crashed and interest rates were around 18% which further put a damper on the housing market for a few years.

Then in the 80s, Californians discovered this area, and ever since, the cost of real estate has been pretty expensive, particularly in the Metro Seattle area.

Hawai'i needs to diversify its economy and not rely so much on tourism and construction as its bread and butter. It needs a better business environment to encourage other kinds of business to grow, too, to provide a cushion.

Miulang

[MadAzza]

Re: Million-dollar mansions just ain't what they used to be

Edited the whole thing out. Not worth it. Set phasers on "ignore."

[Konaguy]

Re: Million-dollar mansions just ain't what they used to be

Hawai'i needs to diversity its economy and not rely so much on tourism and construction as its bread and butter. It needs a better business environment to encourage other kinds of business to grow, too, to provide a cushion.

I wish that was possible, but due to a bureaucratic,and corrupt county and
state governments.Whom tax us to hell and make it very difficult to create
new industries here.On top of that, unions are too entrenched in government
and business.Worse yet you have a fringe element who preach the politics of "no" here. Look at the telescopes on Mauna Kea or Hokulia for examples of that. So it will be a nearly impossible road unless changes are made.

[Miulang]

Re: Million-dollar mansions just ain't what they used to be

I wish that was possible, but due to a bureaucratic,and corrupt county and
state governments.Whom tax us to hell and make it very difficult to create
new industries here.On top of that, unions are too entrenched in government
and business.Worse yet you have a fringe element who preach the politics of "no" here. Look at the telescopes on Mauna Kea or Hokulia for examples of that. So it will be a nearly impossible road unless changes are made.

I think it IS possible to make changes, but the voters of Hawai'i have to stop with the laissez-faire attitude and start electing people who will represent them fairly. More importantly, the voters need to hold their elected representatives ACCOUNTABLE for their actions and not keep returning them to office year after year even though some of them clearly are not keeping the best interests of their constituency (as opposed to big business) in mind. Or as I like to say, "If you're not part of the solution, then you're part of the problem."

Miulang