I Know The Future –

I often look at other markets throughout the country to gauge where Denver is headed. Looking back – 4 straight years of 10% y-o-y home price appreciation.  The reason, limited supply, increasing population and robust economy.  The average home price is around $440,000 and the gap between the $440,000 average home and the $650,000 “sub-luxury” home is shrinking rapidly.  Gridlock will be eminent as affordable homes cease to exist, eliminating the “churn’ needed to keep a market vibrant.  Condo defect legislation, lack of affordable development land and traffic are putting us in a bind, threatening the very goose (quality of life) that is a primary driver of our economic tear. Need a look into Denver’s future – look to California:

The Cost of a Hot Economy in California: A Severe Housing Crisis