Aloha;  it is happening all over; 52% of the houses on the market in Maui, Hawaii are foreclosures, and there are more to come.  It is killing all home prices.  The rapid deflation of real estate is having the same, but opposite, effect as the irrational inflation in the previous years.  The only homes that are selling and fueling the market, are foreclosures. The only other market is  the multi-multimillion dollar properties.  Nothing in between. 

The problem is that the banks  took the bailout money, and have done almost nothing under the Obama plans really to help homeowners. It was a minor bandaid on a hemmorage.  It is also a slap in  tax payer faces.  Now we get to foot the bills for these large bailouts, and stilll get foreclosed on,  while continuing  to loose jobs. 

I am a  lifelong democrat, but we needed a good comprehensive emergency procedue, with followup,  guarantees, compliance, and consequences,  with regard to these large banks, and the so called rescue plans to homeowners.  That at least would insure real help to americans who were in danger of loosing their homes.  We needed (need) all our leaders complete attention, before we moved on to other topics. 

After all, food and shelter, are basics for humans in any society. 

Maui is a ghost island,  and so are the other outer islands. We are isolated, stranded, and destitute. No body is listening, even worse, no one from the White House who supposedly knows Hawaii.

Common sense, politics, and economics, say, freeze foreclosures for now. Enough of the freefall. There seems to be no where to land.