Standard and Poor's has released their latest Case-Shiller index and the headlines don't tell the whole story. Here is the lede:
 
Data through January 2008, released today by Standard & Poor's for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show declines in the prices of existing single family homes across the United States continued into the new year, with 16 of the 20 reporting MSAs posting record low annual declines, of which 10 are in double-digits. 
 
Now this is true as far as it goes, and some markets that can impact Maui Real Estate like San Diego, San Fransisco and Las Vegas have all taken severe beatings in the last year. But markets like Denver, Portland and Seattle have been more or less flat over the same period. In addition, Canadian buyers have become increasingly important to Maui and are likely to remain so. 
 
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