"In 100 years." is what I joked to my friend Chris who asked me this morning, "When will the market slow down?" The Hawaii real estate market has little to no inventory, which made the median home price rise to yet another new record high of $1,125,000, up 22.6% from this time last year.
The condo median sales price rose to of $497,000, up 8.6% from one year earlier.
The key is that there is no inventory, and I have no idea when that could change with more and more remote workers wanting to move to Hawaii. And it's possible that Hawaii real estate is the best hedge against inflation on Earth. What else can you count on to be there for you if we have hyperinflation, or even just modest?
Here are the numbers:
When will it slow down? I don't see a catalyst to an end of this market end for a while. Not war, not a stock market crash, not rising rates.