Gary's Blog

Wednesday, February 17, 2010

Maui Occupancy UP!

Hooray! December occupancy in vacation rentals is up to 62.3%, vs. 57.4% 12 months earlier. That's not only good for Maui real estate owners, but also good for all the other businesses that attract tourists, such as restaurants, golf courses, tours, etc. That is good for all of us here on Maui!

In other good news, Japan's GDP is up at a 4.6% rate in the fourth quarter of '09, about 25% better than economists expected.

More good news was announced just today. A stronger-than-expected uptick in housing starts (591,000) confirms that the housing market has bottomed out after its steepest slide since the Great Depression. Still a far cry from the 2 million units per year from four years ago, it is a move in the right direction.

Other recent economic data also point to an economy bouncing along the bottom. A report today showed that industrial production, as measured by the Federal Reserve, continued to expand in January.

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