“Slumburbia” in Honolulu?

February 23rd, 2010 categories: Rants & Riffs, The Market

Timothy Egan, writes a real estate blog at the New York Times on-line and his headline “Slumburbia” really caught my eye. The main point of his post is that some real estate markets in the U.S. are so over built that they have become vacant slums in suburbia.

“Drive along foreclosure alley, through new planned communities that look like tile-roofed versions of a 21st century ghost town, and you see what happens when people gamble with houses instead of casino chips.” CLICK HERE TO READ THE ENTIRE BLOG

My readers know that I focus my attention on Oahu and Honolulu. Here is the good news, due to the limited amount of developable land on the island and unmet demand for affordable houses, our market would be very hard to overbuild to the extent that they have in the mainland. Furthermore, in core Honolulu, there is no significant parcel of land available for building single-family homes. Thus, in this core area, it is nearly impossible to add enough houses to come close to swamping the market.

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If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

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