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.
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