Monday, April 7, 2008

Don’t like the Housing Outlook? Move Over a Few Miles.

USA Today reports that Green Ranch near DIA is looking like ghost town as for the foreclosure plague moves in. But while the tumble weed may be blowing in the prairie it’s not indicative of the rest of the metropolis. We all know that Colorado, particularly the Front Range, is comprised of a multitude of micro-climates. Well, same goes for the housing market. And so, we seem to fit right into whatever media headline needs to be written.

Need a doom and gloom story? Just last week Forbes included Denver among the “riskiest housing markets”, but with a caveat…

Other spots, Denver, for example, exhibit negative characteristics like foreclosures, lending problems and vacancies, but are adding jobs, a sign that the local economy can better handle these difficulties.

And for a good time…Earlier this year Forbes nominated Douglas County as No. 5 in America’s Richest Counties.

And my point is? Denver seems to reflect what’s happening through the country. While some pockets continue to prosper others fail.

Let's hope that like most storms in Colorado this one passes quickly with beautiful times ahead. It’s a sweet time for investors and new buyers and sad for those who bought into bad loans.

photo by artbabee

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