DENVER | Main Development Thread #6

[CherryCreek]

Originally Posted by comoneymaker

Colorado's population rose by almost 102,000 people last year, but the state added only 25,143 new homes, condos and apartments to accommodate those newcomers, according to updated estimates from the U.S. Census Bureau.


http://www.denverpost.com/business/ci_29...n-places-census-says-colorado-population

That's pretty amazing - so for all the boom in construction - in Denver's case, perhaps the greatest in the City's history - the message is there hasn't been enough construction. These numbers suggest that talk of a Denver bubble (see Colorado Real Estate Journal http://www.crej.com/news/negative-trifecta-coming-denver-market/) is for now premature.

We are only now reaching the level of construction in Denver that the metro area had in 2007!!

http://www.denverrealestatewatch.com/2016/02/10/housing-starts-jump-31-percent/.

The evidence if anything suggests under-building, not over-building. That of course can and certainly will at some point change. But from here, given the lead time for projects, that seems some years down the road. Of course a severe recession could always change things but as of today the "bubble" theory is hard case to make.