American real estate is really taking a pounding. What’s worst, it’s affecting the Philippine real estate market as well. Granted that a lot of Fil-Ams are now putting their money in properties here due to the negative market in the US, but the effects of bad business directly there affects lending rates here as well. My husband says real estate report shows that from East to West coast (including its other territories like Hawaii) housing sales have gone down since last year. Better to market vacation houses in Maui and Kauai rather than for sale units, then, since the market will probably continue to decline until after their election – it’s what happens here with us.