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Originally Posted by PLANSIT
What are your thoughts on this? Are you thinking that our population increases will start to taper off, as we become less affordable? Companies will start looking elsewhere (already have) for more affordable places for their employees and the market will correct? Just curious on other's thoughts.
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nothing gloom and doom...however, there are a few things that should help this housing market cool off (much needed)
- yes, population growth will taper a bit along with job creation (unless we really become a tech focus)
- energy exploration cool off
- stock market correction (10-20%)
- for-sale supply increase at TOD and via DLL improvements
- 20 year low in homeownership rates
put them all together, and denver should become "normal-ish" again for housing costs and appreciation as these all adjust toward their historical trends...
overall, Denver is in good shape, but housing costs (as a percent of income) just won't go back to where it was 20 years ago. think of it as denver growing up from a cosmopolitan perspective, but we won't outpace our coastal peers.
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