Kona Kohala Blog

Here in Hawaii, a double dip puts a smile on government employees since it means they're getting a double retirement each month.  In economic speak it means we're headed for deep kim chee (also a Hawaiian term meaning, "not good").

We've been watching what appeared to be a recovery but unemployment has continued to grow, a fact played down by the administration.  The stock market continues to climb, more bad news for those seeking work; why would a company hire if they're doing so well with fewer employees?  And the dollar keeps losing value, maybe good in the short run but always bad in the long run.

November is shaping up as another month of change in the real estate market.  North Kohala is looking good for Single Family Residence (SFR) sales already ahead of last month.  South Kohala is starting strong in both SFR and condo sales and North Kona is good in SFR sales but almost dead on condo sales.

Our double dip could mean the bottom is going to fall out again and any gains we've seen will wither.  The median price in all west side districts is still declining at the roughly 20% rate we've seen all year compared to 2008.  The new tax credit may help out a little bit but Hawaii depends on investors and there's no help on the way for them.  What a great time to buy real estate.