The Honolulu Advertiser ran a real estate story today from USA Today :
US home price drops set records in January
It has nothing to do with Hawaii real estate. As we have discussed before, the Standard & Poor’s/Case-Shiller Index contains no Hawaii data – none, zero, zip, nada, nyet, nothing, no kine at all.
Therefore, this article is meaningless to Hawaii. However since it is being carried by the Advertiser, you might think that it does. The Case Schiller index chooses the markets where housing is doing the worse. This insures a negative headline that the media loves.
April 8th, 2009 at 11:02 am
I’m not sure the article is totally meaningless. I mean, we are definitely effected by the economies of the mainland states. And if sellers are trying to move from the mainland to Hawaii, but can’t sell their home, then they won’t be able to buy in Hawaii – so we do get effected.
i know what you’re trying to say, but i think to say the report means nothing is a bit over stated.
April 9th, 2009 at 10:19 pm
Thank you for the clarity. Hard to paint an entire country with one brush.
Aloha,
Keahi