At the Realtors Association of Maui’s general membership meeting on Friday our Local economist Paul Brewbaker spoke. This is not the first time he has said these things. Here are some of the highlights of Paul’s talk:
- Mr. Brewbaker specifically said, ”If Maui real estate prices haven’t already hit rock bottom, they’re not going to get much lower.”
- We were cautioned to not wait too long to buy if you’re hoping to find bargains. He told us a few weeks ago that our recession was over even if our jobless recovery hasn’t started yet.
- He went on to say that there has been an uptick in housing prices in California and that foretells an uptick here.
- Building permits are running at 1/5 of past years and this will create pressure on supply that will drive prices up.
- The Federal Reserve has vowed to keep interest rates low also.
If you have been sitting on the fence waiting for the perfect time in buy on Maui, it might just pass you by. Don’t want any longer to act.