Local Connection: Economic Recovery

Local Connection: Economic Recovery

By: Rick Blangiardi

There are some fresh green shoots of recovery out there.

New luxury homes just went on sale in Ewa. Alexander & Baldwin is selling new fee-simple light industrial lots at Maui Business Park.

Honolulu office vacancy finally bottomed out after years of what brokers call negative absorption. The best news may be from auto dealers.

For years they've been predicting a surge in car sales. They figured, if nothing else, it would happen because cars don't last forever.

That's true, but they last longer than they used to, and consumers held onto them longer than expected. But that surge in sales finally happened this spring.

I can't resist saying if they had advertised sooner it would have happened sooner, but let that pass!

The thing is, they're not all towing in their trade-ins.

Consumers who could've driven their nineties cars even longer are feeling better about the economy.

And that makes us feel better, too.

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