Hawaii Real Estate Reporter

An August 29, 2008 Honolulu Advertiser article gives a great perspective on the market (and the economy in general) from outside the Real Estate industry. Paul Brewbaker, Bank of Hawaii’s chief economist thinks that we are in good shape, and that we shouldn’t listen to the manufactured reports about our economy.

A recent article discussed the outstanding 3.3% GDP growth rate for last quarter. A recession is two consecutive quarters of negative GDP growth. But don’t worry – the media is still writing about the “recession”. Only now, it is a “different Kind” of recession. In other words, they are making up their own rules as they go along. They can of course – because they are the media.

I love Dr. Brewbaker’s suggestion in this article – “turn off the TV.”