Interest Rates drop again, 9 years later. More fuel for real estate in Hawaii?

I have been wrong every time I have tried to guess which way rates would go. In 2005 I was certain that rates would be 8-9% by now. In 2007 I was sure again. 3 months ago, I was sure I was finally going to be right. And now I'm wrong again.

It's September 2008 and 30 year fixed rates are down around 5.5% with 1 point again. It's amazing really, that you can borrow $600k and it only costs about $3600/month.

While most people have been wrong like me, we're glad to be wrong on this. Low rates means more buying power for buyers, and another opportunity for any who have been waiting to buy. Prices are down in some areas in Oahu, and certainly the other islands, and now with rates down again, it could be the best time for those who have waited patiently.

But who knows, I've been wrong every time so far...

Real estate in Oahu continues to be strong even after years of people's predictions that prices would come down all over. People thought that even East Oahu might decline, but they were wrong for the most part.

And while the stock market crashes day after day, housing prices in Oahu continue to hold. Just to continue my streak of wrong predictions, I'm going to predict that prices will plummet this year. I'm sure that will be wrong. Again.