“RealtyTrac didn’t provide specific statistics by island, though Bonham said he suspects that most of the state’s increase in foreclosures is occurring on the neighbor islands, where homes prices have plummeted and the number of second-home mainland buyers is higher than on Oahu. ”
1. I don’t know the stats but Maui probably has the highest percentage of second-home mainland buyers (do we count Canadians as mainland?). I’m not seeing the plummetting! I’m seeing predictable downturn based on affordability that has been predicted for some time.
The comments were mostly a mix of mainland people saying we shouldn’t complain and uninformed people making crazy and untrue statements.
One comment implied that foreclosures are happening because of the THOUSANDS of $ that REALTORS are paid. I’ll save that topic for a future blog!