Lakewood passed ballot question 200 to limit housing growth to 1% of existing units. Many voters are dissatisfied with the growth of the Metro area and increasing housing costs, and this was their chance to vent. Ironically, the result will be higher housing costs and fewer amenities. Also, this will increase the potential for corruption as developers may need to “grease the wheels” of government to get their permits approved over the other guy. It isn’t the end of the world, but it is a game changer. We’ll see if other cities follow suite.
Market slowing down
Investors this season are feeling the slowdown of the market . Did you run your numbers correctly? Or, were you counting on getting multiple offers and instead had to wait a month to get an offer? Welcome to the new normal! The key to staying afloat is to adapt to the market and build in a safety net into each deal. Get a detailed look at the current market here.
QUOTE OF THE WEEK
“We don’t have to be smarter than the rest. We have to be more disciplined than the rest.“
Wishing you investing success,