When the Kauai realestate bubble burst, a series of massive losses followed, with some real estate companies going bankrupt.
But some realtors say they are confident that the real estate boom is finally over.
“I think we have seen a big decline in prices in Maui,” said Jeff Glynn, who runs an international real estate company called Glynn Real Estate.
“The market has been very flat for the last couple of years, which is what’s been happening across the world.”
In the Mauai market, we’re seeing that we are in a new era of property.
“Glynn says prices are down on the previous peak.
But he has not ruled out another crash, as the realtor market has cooled in recent months.”
We see a number of opportunities,” he said.”
It’s not the peak, it’s just a gradual trend, but it’s a gradual process.
“As long as it keeps at a pace that keeps up with what we’re going through now, it will probably continue to hold up.”
Real estate boom bustersMaui is home to a wealth of luxury properties, and many are now being sold off, including the $1.5 million-plus home of billionaire Donald Trump.
But with prices in the Mauau real estate market going through the roof, Glynn is optimistic the boom is over.
“I don’t think we’re ever going to see the Maua real estate return,” he joked.
“A lot of people have made a lot of money out of Maui, but I don’t know that there will ever be a Maua boom again.”
There’s no one there.
It’s just been a huge bubble.
The Mauai bubble burst.
There’s just so many, so many opportunities out there.
“Topics:housing,housing-industry,maui-2481,kiribati,fiji,united-statesFirst posted March 05, 2019 09:21:08Contact Amy YoungMore stories from New Zealand