Hawaii 50% Off Sale

Ready to Pop pointed out this article about Canadians buying property in Hawaii now that the Canadian dollar is strong and some homes and condos are selling for half what they were worth in 2008:

“In some areas prices have dropped 40 to 60% and it’s as bad as Phoenix.”

He gets calls and emails from Canadians daily.

“Some are waiting for a bell to ring that says we have hit absolute bottom,” he jokes. “Others have pulled the trigger because in Maui we’re having a half-off sale.”

The loonie, valued at 62 cents US almost a decade ago, hit $1.05 in April. That means a million-dollar property in Hawaii, that would have cost a Canadian about $1.6 million in 2002, is now under a million.

The best values are on the big island.

“In Maui, you need two wallets — on Hawaii you can survive on one,” Dinits says. “You can get a nice house on Hawaii today, six blocks from the ocean, for $66,000. That would be a bank owned foreclosure, or REO (Real Estate Owned) deal.”

Sort by:   newest | oldest | most voted
VanRant
Guest
VanRant

QE3 is coming! US dollars is going to be worthless soon. Funny, the US is still trying to fix the effects of the housing bubble rather than not creating one in the first place. Watch out Canada.

patriotz
Member

@Vansanity:

The $100K number was arbitrary, I made it up, it was based on the $66k figure from the article.

Which as VCI's quote makes very clear, was a reference to the Big Island, not Maui. You (and others) have taken up a whole line of argument based on the straw man that this was a claim for Maui.

Another straw man is that we're claiming Maui is another Vegas or Miami with prices down >50% across the board.

What anyone can see by looking at the number of short sales, foreclosures, properties finally selling after years of price drops, condos going for 50% off peak, and lastly of course Zillow's own statistics, is that this is real bust comparable to US West Coast cities, not the 20% off lull that your realtor associate apparently wants people to believe.

Devore
Member
Devore

@paulb.: 16k inventory party again. Why did so many listings expire last month? What would cause people to take so many houses off the market?

Li Kai Shing
Guest
Li Kai Shing

17000 inventory ?

Cam Good and 1000 Sikorsky helicopters lead by Ben Bernanke will fix that anomaly.

I love the smell of NIPPON in the morning .

Vansanity
Guest
Vansanity

@Best place on meth:

"Yeah, yeah…Maui’s nice and all with it’s palm trees and white sand beaches and wee little turtles but come on, it’s no False Creek is it now?"

LOL – False Creek it is not, no.

Any predictions or comments on how the bond market is likely to respond moving forward. Considering the US' debt, Greece and the rest of the PIGS.

Anonymouse
Guest
Anonymouse

I predict that inventory won't exceed 17.5k this year.

Romeo Jordan
Guest
Romeo Jordan

Meth, save the champagne for the 20,000 party this fall.

Watch 17,000 listings zoom up on us over the next couple of weeks.

Shitstorm, I predicted it. Anyone other than McLoser who follow's my advice will benefit handsomely.

xoxox

Romeo Jordan

Meth Man's land
Guest
Meth Man's land

Ravishing Rick

No wonder you chase Great Danes

http://vancouver.en.craigslist.ca/rds/m4w/2491374

Are you Jess Ventura?….Adam Sandler? or KISS bass player ?

Pee Wee Herman wannabee?

Best place on meth
Member
Best place on meth

@ReadyToPop:

Yeah, yeah…Maui's nice and all with it's palm trees and white sand beaches and wee little turtles but come on, it's no False Creek is it now?

16,000 inventory!

Again!

Woooo!

Groundhog day!

Ravishing Rick
Member
Ravishing Rick

@ Meth Man's Lanlord…

The only bitch i ever mounted was you old lady!

Hit the music!

Wtfruk
Guest
Wtfruk

Prices will crash 10percent this year

Anonymous
Guest
Anonymous

Sale/list < 40%

New Listings – 292

Back On Market Listings – 9

Price Changes – 115

Sold Listings – 115

*Attached & Detached – Date: 07/12/2011

Pizza Guy
Guest
Pizza Guy

With a hologram and a heat lamp…you can replicate Hawaii.

Quit watching Hawaii 5-0 reruns or new pansy version.

Today's investment advice:

Sell anything West of Cambie.

Dump any stock with a vowel in it.

Commodity ?

Buy anything with initials Smith- Wesson,…..Winchester ….Luger…Baretta…Raytheon…..and nachos.

Please give a generous tip when I'm at the door with your smelly anchovies and feta cheese toppings…..you cheap pricks.

ReadyToPop
Guest
ReadyToPop

Just a little something to get you in the mood while thinking how much it costs just to live in a crack shack in Vancouver…..aloha and Hang Ten VCI !

Wtfruk
Guest
Wtfruk

Priced out

Our time is coming

Don't shit on a frog in the meantime you freak

Wtfruk
Guest
Wtfruk

Looks like the effervescent Romeo Jordan was right

17000 before month end.

Moi set to soar soar soar

Just wait unti rates actually rise

pricedoutfornow
Guest
pricedoutfornow

This is a great graph from Larry (sorry if already posted here)!

http://www.yattermatters.com/2011/07/vancouver-ho

paulb.
Guest
paulb.

New Listings 295

Price Changes 119

Sold Listings 118 Yikes…

Total Inventory: 16045

http://www.laurenandpaul.ca

Wtfruk
Guest
Wtfruk

Meth

This shit market is starting to stink badly

Price declines this month

Rate hikes start in the next few months

This housing market is crashing now

Meth Man's land
Guest
Meth Man's land

Ravishing Rick …

You don't remember ?

http://www.youtube.com/watch?v=9o7earp01FA&fe

You and Meth Man watched this….you both got pissed.

You jumped the Great Dane…thought it was some Scandinavian chick.

That's part of the reason Meth Man is gone.

PS hope you can pay child support….we know the kids will be butt ugly

Ravishing Rick
Member
Ravishing Rick

Hey Meth Man's landlord, why did you knock up the great dane? I'll punch you in the back of the neck while you're eating if you try that with anoher K9 again!

Hit the music!

Ravishing Rick
Member
Ravishing Rick
Cut the music! Listen, learn, … The whalley school of Economics Euro trash is suffering from their debt hangover and threatening to make the US mortgage securitization crisis look as small as Li Ki's manhood! US unemployment is upward sticky near generational highs, and this despite QE1 and QE2. US housing is going for one more leg downward! Hindustan is suffering From food and oil inflation! Japan has been sidelined and Their nuclear reactors are still shut, resulting in an electricity shortage. China has more problems than I can even mention here… Inflation that they can't control, civil unrest, shadow banking, accounting frauds almost weekly, over investment in infrastructure… UK is a basket case, stagflation is preventing them from proper rate hikes. Australia is in recession because of floods and drought… And even their Canada-like real estate is crumbling! But… Read more »
Meth Man's land
Guest
Meth Man's land

Sorry Meth Man…

Ya gotta vacate the dog house.

You are 6 months behind in rent….and the Great Dane is knocked up .

PS clean up after yourself in back yard.

Best place on meth
Member
Best place on meth

Fantastic numbers today from the oh so hawt SFH market.

Van East – 22 listings, 4 sales

Van West – 21 listings, 3 sales

Richmond – 21 listings, 8 sales (that's hawt!)

Burnaby – 17 listings, 5 sales

All other areas – sorry, I'm laughing too hard to continue:)

Anonymouse
Guest
Anonymouse

@Vansanity:

I had a quick look on Zillow and I couldn't find anywhere I'd want to buy for $100,000. I saw lots of units under 300sqft in 40+yr old buildings, though.