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Hawaii's Economic Crisis – Still a Substantial Foreclosure Overhang

The latest financial and economic report from UHERO (University of Hawaii Economic Research Organization) highlights the ongoing slowdown to the state’s recovery from the economic crisis, which began some three years ago.

The report highlights a reduction in velocity of the travel industry despite a strong 2011 beginning. Travel revenue is generally a reflection of the pricing of oil, and the overall economic and spending climate. Many families can take vacations that are more affordable than traveling to the islands and our overall statewide numbers reflect this.

New construction permits, although better on Kauai than other neighbor islands, are at levels not seen since the 1980’s, and the comments in this financial report on the housing market notes a substantial foreclosure overhang, equal to at least two months of inventory.

Read the entire article about Hawaii’s Economy in Pause Mode” from one of the leading authorities in the State. If you have an interest in purchasing property in Hawaii’s stagnant economy, check out my Foreclosure Toolkit, available for free download.

View the Kauai Foreclosure Gallery.

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Karen Keefe R(S)

November 19, 2011

And the good news is. The Dept. of Business, Economic Forecast 3rd Quarter report details visitor arrivals have increased. Here in Maui occupancy at the hotels, and condos are at 80% plus and booked to 3/31/2011.

According to data from the Commerce Department, the U.S. can expect 6-8 percent average annual growth in tourism over the next five years, and this year, 64 million foreign travelers are projected to visit the United States, spending $144 billion during their stays, setting a new record for travel exports.

Aloha

Karen Keefe R(S)

November 19, 2011

And the good news is. The Dept. of Business, Economic Forecast 3rd Quarter report details visitor arrivals have increased. Here in Maui occupancy at the hotels, and condos are at 80% plus and booked to 3/31/2011.

According to data from the Commerce Department, the U.S. can expect 6-8 percent average annual growth in tourism over the next five years, and this year, 64 million foreign travelers are projected to visit the United States, spending $144 billion during their stays, setting a new record for travel exports.

Aloha

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