Housing on familiar track
This week’s news that the median price for single-family Maui homes topped the $1 million mark for the first time reminded us of an analogy a friend often used in the 1980s to describe island real estate. He said it was a train moving ever forward. Wage-earning homeowners could get off anytime they wanted. Cash out, pay the bills and take the profit. The problem was the train promptly chugged from the station and left them behind. Those former owners would never be able to jump back on at the level of property they sold. Not on Maui at least. That is one reason why so many folks ...