The Honolulu Advertiser Blows Real Estate Report!

January 20th, 2009 categories: The Market

The Honolulu Advertiser posted the following headline on January 19, 2009 “Hawaii home prices predicted to fall 30%”! The newspaper is doing our community a disservice by publishing such a “Henny Penny” headline. Their decision to lead with the inflammatory headline, rather than trying to balance it with information from their own article showed poor judgment. Harvey Shapiro of the Honolulu Board of Realtors did a good job showing a moderate line of reasoning.

“Shapiro said Honolulu home prices shouldn’t be expected to follow what has happened in some Mainland cities where home prices have already collapsed by 50 percent or more.”

“In most other cities they’re building up inventory, and we haven’t been doing that in Honolulu,” he said. “I think that is going to go a long way to keeping our market stable.“

I wish the Advertiser had done a better job of finding middle ground, something like “Economists At Odds Over Hawaii Real Estate Market” would have been fine. I guess they have to sell newspapers and think that skewed headlines will help their circulation. Call me at 808-737-2093 or toll free at 877-737-2093 to discuss your questions or concerns.

This entry was posted on Tuesday, January 20th, 2009 at 1:54 pm and is filed under The Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.