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The Gospel According to Paul

Recently, noted economist Paul Brewbaker was on Maui discussing the real estate market. Below is a summary of some of his conclusions. Please email us if you’d like us to send you a link to the data supporting these claims.

• Maui’s housing market has turned the corner.

• Low production, low inventories suggest change in housing stock demand will overwhelm new flow supply.

• Historical relationship between underlying trends in Maui house price appreciation and (lagged) Maui days on market suggests that housing cycle is solidly in appreciation phase.

• Mainland markets with more severe housing downturns rebounding more sharply; ditto for Maui and Neighbor Islands with more severe housing downturns than on Oahu.

• Longer-term appreciation trends suggest that neither the so-called “Sub-Prime Bubble” nor the prior “Japan Bubble” are anomalies: valuation cycles are normal for markets with geographic and regulatory restrictions on supply side of market (ask the Sierra Club).

• Role for demand-side bubbliciousness is not ruled out (viz. Phoenix and Las Vegas with subprime lending) but supply-side constraints assure Maui of another period of rapid house price appreciation.

Aloha,

Ken

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About The Smith Team

Ken Smith, a Maui resident for 35 years, brings his extensive local knowledge and passion for the island to his successful real estate career. Alongside his daughter-in-law, Melissa Smith, and Greg Smith, the Smith Team provides a wealth of experience and dedication to clients seeking to buy or sell property in Maui.

Melissa Smith, a third-generation Maui native, combines her deep understanding of the island's growth with a commitment to exceptional service. She empowers clients with knowledge to make informed decisions in finding their dream homes. With a background as a top agent and a Broker's license, Melissa's expertise is invaluable.

Gregory P. Smith, a lifelong Maui surfer, channels his passion for the island and its natural beauty into his real estate profession. His enthusiasm, deep market knowledge, and dedication to exceeding client expectations make him an exceptional agent.

The Smith Team's combined local expertise, commitment to client service, and understanding of the unique Maui real estate market make them an ideal choice for those looking to navigate the island's property landscape. Their proven track record ensures a smooth and successful experience for both buyers and sellers.