Oahu home prices drop to 2005 levels - News

Rayem...why don't you make up with pj....and just admit that you are wrong about everything you have posted here for the last 3 years..?! You haven't been right about even one thing here in all that time...! Why can't you man-up...err...or whatever you are (he/she/it-up)...and just admit that you were wrong all this time??! Where is your decline of 80-90% in Hawaii real estate??! Girlie-boy Rayem....it isn't happening...!!!

Guru wrote:

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...well...none of mine are...they are all RIGHT-SIDE-UP because they are FREE AND CLEAR now!-:))) Sorry...I can't join your "misery-loves-company " club Rayem...!:)))
...here...I'll pretend to cry for you and feel sorry for you Rayem..."boo-hoo...waaa-w aaa....sob, sob,...wimper, wimper.......mommy"! There.....feel better now?!!LOL

Guru's tantrum number 15.

Rayem wrote:

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Guru's tantrum number 15.

....sniff....sniff....I want my mmmmmommy....

Rayem wrote:

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How many Kahala, Waialae and Hawaii Loa homes that are upside down?
http://www.oahure.com/UpsideDownSingleFamily....

What, you can't count??? There are 8 total (out of 4,000+ homes). With an average "upsidedown" price of -2.8% of what was originally paid.

Wow....8 out of 4,000+ homes asking prices 2.8% lower than what was originally paid.

The sky is falling people. THE SKY IS FALLING!!!!!

Gold down $6, what say u RE Zulu?

I meant gold down $42. What say u RE Zulu?

R u hugging yer Jim Rodgers doll now, hon?

Rayem wrote:

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How many Kahala, Waialae and Hawaii Loa homes that are upside down?
http://www.oahure.com/UpsideDownSingleFamily....

I live up at HLR. I put 67% down on it so my mortgage is not upside down. Even at 5.375%, I didn't trust putting most of my capital into the hands of others who control the stock market (big investors, CEO's). Ask the people who owned stock in General Growth about what happened to their money.

So my house depreciated some. Big deal as it is a place to live versus an investment. That's a point you and many others miss. People who buy a home to live in are mistaken to think of it as a financial investment. It's a place to live. Where I live, I enjoy the view and the security. But most of all, I enjoy the thought that you can't come to my door.

There are intrinsic values of some real estate locations that make them more desirable than others. Once the economy begins a rebound, the more desirable properties will be snapped up first once prices begin to appreciate. So I predict that real estate on the east side and near town (i.e. Manoa) will rebound in price much sooner than leeward areas like Ewa. There is more leeward land that developers are waiting to build homes on. No more on the East side and in town.

People like Guru and LPJ are focused on investment property and not about primary residences. I'm sure they would be the first ones to tell you that buying and living in a primary residence is not the most optimal thing to do with any investment capital.

Guru wrote:

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That is the way I see it too...inflation has always played into American life...homes that were 10K 40 years ago are now 600K...the money has been debased over and over again...it is also a hidden tax on us all. A dollar in the 40's is worth less than a nickel today. The one caveat is that if the other countries go off the dollar, look out: war, all hell will break loose to keep us on top and in power as far as the dollar is concerned. It is amazing that we can print all we want, and everything is measured in dollars, but other countries have to peg to the dollar and do not have this option. But there is nothing behind the dollar excepts smarts and better weapons, and the threat to use them. That is the only thing holding it in its place. It is all a scam.

That is why real estate will not appreciate for a very long time, and definitely not in real terms. The system is broken, and we will not be returning to how things have been up till now.

Guru wrote:

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Doesn't matter if you can make the payments does it? It will come back in time...just wait it out as all people do during a recession. You gotta live somewhere. At least it is in a very nice area.

Key first sentence. What about the growing numbers who will not be able to keep up? Yes, you can wait it out - just as the Japanese have been doing for the last two decades.

Honu wrote:

<quoted text>That is why real estate will not appreciate for a very long time, and definitely not in real terms. The system is broken, and we will not be returning to how things have been up till now.

Sounds great doesn't it...but it is not true..."in real terms"...what does that mean? It means nothing..."real terms" defines the American economy since 1913...inflation has always been with us, hasn't it?! You guys with your "real terms" simply don't get it...so here are some "real terms' for you guys:...the NOMINAL value of hard assets will explode through this forced inflation...but the debt stays the same...and will be paid off in ever decreasing dollars. My parent's home started at a HUGE $44 dollars a month...many years later, after the home had gone up in NOMINAL terms over 100 times the purchase price...the payment was still $44/month. Now the average mtg payment for these homes is more than $7,000/month. Same house, 65 years older...but harder than ever for people to buy. And that is exactly why you buy asap when you are young...so that the built in inflation rate pays off a huge portion of your loan in ever-depreciating dollars. "Real terms' is an oxymoron now. There is no such standard anymore, and you are right about that part of your post. First the deflation...then the inflation to come. They will inflate beyond your wildest dreams...or they will let it tank. So far....it looks like the inflation is going to be staggering once the money starts flowing again, which won;t happen until Obama gets in, and the world begins to calm down. That can't happen under Bush.

Honu wrote:

<quoted text>Key first sentence. What about the growing numbers who will not be able to keep up? Yes, you can wait it out - just as the Japanese have been doing for the last two decades.

Again...different economies....and different philosophies...the Japanese Kireitsu system is far different than ours. If the liquidity doesn't start and increase, then all hell breaks loose...and it will be about food and safety, warmth, and shelter. At that point nothing financial matters. We will not follow their mistakes...we may make our own...but it will be different. It really hinges on Obama and the Democrats...they will outspend any Republicans in history in the first 2 years of his presidency...and rightly so, or it will all tank. Just be patient...it will be tough, but we will all get through it in time. Time to bite the bullet.:)

Get Real wrote:

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I live up at HLR. I put 67% down on it so my mortgage is not upside down. Even at 5.375%, I didn't trust putting most of my capital into the hands of others who control the stock market (big investors, CEO's). Ask the people who owned stock in General Growth about what happened to their money.
So my house depreciated some. Big deal as it is a place to live versus an investment. That's a point you and many others miss. People who buy a home to live in are mistaken to think of it as a financial investment. It's a place to live. Where I live, I enjoy the view and the security. But most of all, I enjoy the thought that you can't come to my door.
There are intrinsic values of some real estate locations that make them more desirable than others. Once the economy begins a rebound, the more desirable properties will be snapped up first once prices begin to appreciate. So I predict that real estate on the east side and near town (i.e. Manoa) will rebound in price much sooner than leeward areas like Ewa. There is more leeward land that developers are waiting to build homes on. No more on the East side and in town.
People like Guru and LPJ are focused on investment property and not about primary residences. I'm sure they would be the first ones to tell you that buying and living in a primary residence is not the most optimal thing to do with any investment capital.

Good points...I don't really view a "home" as an investment...actually it is a liability. I HAVE to make the payment...and it generates zero income. But what I have always done is buy investment properties that I can call "home" anytime I want. That way they pay me sheltered income, and I can draw on that income stream to fund other projects. Have done refinancings dozens and dozens of times, and paid off properties several times, and indebted them several times, over and over again. You just adjust as the need arises. Rayem is a one trick pony...all real estate is exactly the same to him...a fantasy that he has no knowledge of or control over. Hence, his one-dimensional, one size fits all posts about the subject of real estate. Misery loves company, and he only wishes to see others in misery as he is.-:)))

Guru is very right about the inflation we face when the economy restarts. Real estate is a good hedge against inflation.

dudealohajoe wrote:

Gold down $6, what say u RE Zulu?

...gee....less far less than 1% even..-:)))

...hmmmm....on the other hand...YOUR crummy stocks are down 7% today...ANOTHER 680 points! WOW!!! What you say to that, dudealohablojoe...?!!
http://biz.yahoo.com/ap/081201/wall_street.ht...

" AP
Down we go again: Fourth-worst drop ever for Dow
Monday December 1, 6:04 pm ET
By Sara Lepro and Tim Paradis, AP Business Writers
Wall Street breaks 5-day win streak as stocks plunge; Dow down 680 in 4th-worst decline

NEW YORK (AP)-- The stock market suffered one of its worst days since the financial meltdown Monday, slicing 680 points off the Dow Jones industrial average as Wall Street snapped out of its daydream of a rally and once again faced the harsh reality of a recession...."

...man....you must be totally wiped out by now dudealohablojoedude!!!...must be F***ing PAINful!!!!LOL! Man, you are a glutton for punishment aren't you?!! LOL!... Sure glad I got out on August 1, 2007....seven days before Cramer's famous meltdown-rant, and some ~6,000 points ago!-:)) Dammm, I'm good!-:)))) Have a nice day blowjoe....!

alice wrote:

Guru is very right about the inflation we face when the economy restarts. Real estate is a good hedge against inflation.

I am setting you up in my will right now Alice! It is in the high 8-figures.:)) You'll never have to work again...!

ipj737 wrote:

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What, you can't count??? There are 8 total (out of 4,000+ homes). With an average "upsidedown" price of -2.8% of what was originally paid.
Wow....8 out of 4,000+ homes asking prices 2.8% lower than what was originally paid.
The sky is falling people. THE SKY IS FALLING!!!!!

Rayem is 100% certifiably nuts. Plain and simple.:))))))).what a creep he is too! Total retarded-moron...makes Bush look like Einstein!LOL!!!-:)))))

dudealohajoe wrote:

R u hugging yer Jim Rodgers doll now, hon?

...nope. I'm doing your mom. LOL!!!!!

...hey dudealohablowjobbajob...I see you are getting busted all over Topix here...a lot of your posts just vanished...???!!!! Wow! Must be the aliens!!LOL!!! Or maybe it was when you posted that F***Topix administrator thing...?!!-:))man, you are weird!
LOL!!!!

wow! <hugs her guru> Rayem does not plan to leave me anything.