Why You Should Keep Buying Real Estate

The state demography office is projecting that our state will grow by another 2.4 million people by 2050 in 30 years! And the state is expecting that about 1 million more people will call metro Denver home over the next 30 years. This means developers need to build at least 400k to 500k new housing units by 2050!

But, last July voters in Lakewood voted into law a 1% growth cap in their housing inventory beginning in 2020. This means only 696 new housing units can be built in Lakewood this year. Unfortunately, the city has a wait list of 9,000 households wanting affordable housing in the city. I would tell those 9,000 households that you are SOL and to look elsewhere.

Further the CO Supreme Court recently allowed a ballot measure for this fall in 11 Front Range counties that would limit new housing growth to 1% a year for 2 years and possibly longer. Thus, if this ballot measure passes expect the entire Front Range to look like Boulder in 10-20 years with skyrocketing prices and rents. Thus, buy more real estate along the Front Range.