I recently attended the 43rd Annual Realtors
Association of Maui (RAM) Installation Luncheon. The overall theme was that "Change is
coming" and I believe it. The RAM President,
Bob Lightbourn, presented this dominant theme and he believes that the changes
are going in a positive direction. I see
this to be true in all of the new activity that is happening on Maui.
First, I recently read that Costco was given a
permit to build a gas station on Maui.
If you buy gas here you know that this is a big deal! Another sign of expansion on Maui started
early this year when they broke ground in Kahului to build a new Courtyard by
Marriott. This new hotel will be located
near the airport. Both of these projects
will bring jobs in construction to build and then to employees to manage and
maintain. I also found an article that
states that Maui had an 11.5% decrease in unemployment claims. Yes, we still have a high unemployment, but
the news of the decrease is great and we hope it continues to drop. My last bit of information on the changes
that are coming is from a recent presentation by Dr. Laney, who is a professor
of economics and finance at Hawaii Pacific University. The good news he delivered is that Maui's
tourism industry is doing really well.
He did give some insight on other areas that were still struggling,
specifically the need for more jobs.
However, I felt positive when he discussed the projects that are
coming. These along with what I
mentioned above will help create jobs and every effort helps Maui's community. You can watch Dr. Laney's video presentation
and read several article in the links below.
I feel that change is upon us on Maui. Furthermore, we have changes at Real Estate
Sales Maui with the addition of a Blogger website. The site is new to us and we will be adding
information each week. Please take a look around and become one of our
followers!
Looking for more great articles, videos and advice? Check out the Real Estate Sales Maui Team on FACEBOOK, TWITTER and BLOGGER.
Looking for the current foreclosures on Maui? Click HERE.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending September 9 rose 6.3%. Refinancing applications increased 6%. Purchase volume rose 7%.
The producer price index, which tracks wholesale price inflation, was unchanged in August after a 0.2% increase in July. For the year, seasonally adjusted wholesale prices are up 6.5%. Core prices — excluding food and fuel — rose 0.1% in August.
Retail sales were unchanged in August after a downwardly revised 0.3% increase in July. On a year-over-year basis, retail sales rose 7.2%.
Total business inventories rose 0.4% in July to $1.526 trillion, up 10.6% from a year ago. Total business sales increased 0.7% to $1.197 trillion in July, up 12% from a year ago. The total business inventories/sales ratio in July was 1.27.
Consumer prices rose a seasonally adjusted 0.4% in August, following a 0.5% increase in July. For the year, seasonally adjusted consumer prices are up 3.8%.
Industrial production at the nation's factories, mines and utilities rose 0.2% in August. Compared to a year ago, industrial production is up 3.4%. Capacity utilization rose to 77.4% in August from a revised 77.3% in July.
The Reuters/University of Michigan consumer sentiment index for September's preliminary reading rose to 57.8 from 55.7 in August. The August reading had been the lowest level since 55.3 set in November 2008.
Initial claims for unemployment benefits rose by 11,000 to 428,000 for the week ending September 10. Continuing claims for the week ending September 3 fell by 12,000 to 3.7 million.
Upcoming on the economic calendar are reports on the housing market index on September 19, housing starts on September 20 and existing home sales on September 21.
Craig
Haueisen is a Loan Officer with Prospect Mortgage. Please feel free to
email him or call him for any of your Mortgage needs.
Click here to visit Craig's website and apply online: http://myprospectmortgage.com/CHaueisen
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