Some of our favorite economists are those at Morgan Stanley. Today they released the following tidbits:

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The Superferry should find out next week if it can continue operating while an environmental impact study is completed.  

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Disney will build a 21 acre, 800 unit resort at Ko Olina on Oahu. There are no plans for a theme park.

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Fourteen acres across Old Makena Road from the ocean are being offered for $26.5 million. This property consists of four parcels and has a 1500 square foot home already built.The zoning is mixed between agriculture and rural. As one would expect, the views of Haleakala and Kao'olawe are extraordinary. Contact us for details.

Over the past few weeks the housing and financial markets have seen numerous important announcements. In no order they include solid August retail sales, limited funding for large LBO's, Alan Greenspan predicting housing prices will decline "significantly," a record set by homebuilder Hovnanian, Bank of America, Citigroup and other Wall Street firms taking major earnings hits due to dislocation in the credit markets, increased foreclosure activity, record low homebuilder confidence, of course the larger than expected Fed rate cut, declining housing starts, terrible reports on sales prices for existing homes, slowing number of home sales and ten months of for sale inventory nationally and a stronger stock market and modestly rebounding credit markets.

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As is the norm for September, activity along Maui's oceanfront remained slow. The most recent sale remains 6950 Makena Road which sold for $6 million. That property had been listed for $8.3 million. Nothing has gone into escrow since the middle of June. Just under fifty homes are on the market along the oceanfront.  For more information, contact us!