The press continues to tout the "housing bust." Now the Wall Street Journal has joined in. In a front page story the Journal notes:

 Economists are giving up on the idea that the U.S. housing slump will be quick and relatively painless. Instead, more are concluding, the downturn that began nearly two years ago will last at least through the end of 2007, remaining a major drag on the U.S. economy. The culprits: a glut of homes for sale and growing caution among lenders who now regret being so free with their mortgages during the boom…The rise in interest rates is only adding to the gloom.

Here is the real issue for Maui property owners.

The outlook is confusing for the average home shopper, too.

Now folks who are buying on Maui are in no way "average." But even the most sophisticated can be influenced by a story line if it is repeated enough. The "housing bust" mindset potential buyers bring from the mainland is one that sellers and their agents must overcome to successfully market properties on Maui.

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