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Fluctuating fortunes and Hawaiian house prices

Author

Listed:
  • John Krainer
  • James A. Wilcox

Abstract

Real estate prices in a local market can be driven by an identifiable group of purchasers. In Hawaii, residents of both the U.S. mainland and Japan have been significant purchasers of homes. An analysis suggests that house prices in Hawaii were driven primarily by purchasers from the U.S. mainland for most of the 1975–2008 period. But, during Japan’s “bubble economy” in the late 1980s and immediately thereafter, house prices in Hawaii were driven primarily by demand from Japan.

Suggested Citation

  • John Krainer & James A. Wilcox, 2011. "Fluctuating fortunes and Hawaiian house prices," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue dec.19.
  • Handle: RePEc:fip:fedfel:y:2011:i:dec.19:n:2011-38
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    File URL: http://www.frbsf.org/publications/economics/letter/2011/el2011-38.html
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    Cited by:

    1. Yang Hu & Les Oxley, 2016. "Bubbles in US Regional House Prices: Evidence from House Price/Income Ratios at the State Level," Working Papers in Economics 16/06, University of Waikato.

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    Keywords

    Housing - Prices - Hawaii;

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