Will Lakewood Limit Growth?
Lakewood’s special election on Tuesday will put to bed a lingering ant-growth effort. If it passes, new housing will be limited to 1% of existing units. The petition gatherers believe this will keep Lakewood from growing “too fast.” Opponents of the measure believe that an artificial limitation will only increase the cost of existing units and send tax dollars elsewhere. Having grown up in Lakewood, I think it unwise for a large metropolitan city to fear growth, especially with so many parts of town that could use a face lift.
The Time is Now
The housing market nationwide continues to be stable even though prices are technically decreasing in a lot of areas. Not in Colorado, though! Denver only dipped in Q4 last year, and has since increased by 1.9%. (This is also known as a normal, healthy market. Cheers!) Also, Colorado Springs has not seen a decrease in years! Mid-sized cities like the Springs still have room to appreciate. Investors need to understand the difference of each market, know your strategy and adjust with each turn or season.
QUOTE OF THE WEEK
“Sometimes the most brilliant and intelligent minds do not shine in standardized tests because they do not have standardized minds.“
Wishing you investing success,