According to The Federal Reserve's "Beige Book" survey there are still indications of a continuing moderate economic expansion in the western U.S. from late July through late August but the "momentum has slowed a bit." The report issued yesterday idicated that with the exception of housing, most sectors of the economy in the San Francisco Federal Reserve district, which includes Hawaii, reported a positive late summer.
But while a slowdown in the real estate sector is apparent, prices are not letting down and neither are cash requirements – at least not in the still booming Hawaii real estate market.
Many consumers are discovering the after effects of the sub prime crisis in the form of higher up front cash requirements.
According to a recent post in the Hawaii real estate blog, prices have actually been witnessing a slight adjustment over the past few months after a 24 percent soar in prices last year. But even the recent adjustment in Hawaii real estate prices did not bring home prices down to the levels of only a few years ago and many are anticipating further increases in the time to come.
