Bidding war on houses

[CS1983]

This exactly. Wife and I bought 3 years ago and we are selling now. Close on Friday. Had 54 showings and 15 offers all over asking. I work from home, so we will be moving to VA. Get some land this time.

Nice! Why VA in particular? Will you be in them there hills or more toward city?

[sbgixxer]

Agreed. I lived through the California Coast bust and it's SO much different. In CA, home prices were going nuts and everyone just kept saying how they had to buy now or it may never happen. It wasn't based on anything. I know people who bought at the worst time and are still underwater.

Looking at Colorado, there's a lot driving the pricing. Obviously the influx of out-of-staters but it's not just for the weed like what was believed a few years back. Now the job market continues to bring in new workers which feeds the growth, creates more jobs and the cycle continues. It just keeps feeding itself. I don't see anything pointing to a bust. I could see over-development causing housing to plateau or just the sheer cost of homes eventually doing the same but not a bust.

For me, I'm more worried about there just being too many people. Traffic has gotten much worse in the past five or so years and I don't see that stopping. I figured we'd be poised to handle it with all that weed revenue but apparently nobody has to answer to where it's really going.

As a side note, would it not help I-25 traffic to just increase the speed to a nation-wide norm of 65mph? They did exactly that along 36 in Westminster and I definitely notice improved flow through there.

[Madeinhb]

Nice! Why VA in particular? Will you be in them there hills or more toward city?

Won't be in the hills. But probably near Fredericksburg or Richmond or in between.

It's cheaper than here and I also have a few family members there. We don't have anyone here in CO as he moved here on 2009 from CA. (We aren't the liberal ones though)

[Great-Kazoo]

As a side note, would it not help I-25 traffic to just increase the speed to a nation-wide norm of 65mph? They did exactly that along 36 in Westminster and I definitely notice improved flow through there.

Why reduce it by 10 mph? It's 75 throughout most of the country. 85 in Wy west of Cheyenne, UT towards the end of 70 then 15.

[00tec]

Why reduce it by 10 mph? It's 75 throughout most of the country. 85 in Wy west of Cheyenne, UT towards the end of 70 then 15.

In Denver, 25 and 70 run 55

[Martinjmpr]

I actually agree with them, that the housing market won't fail in the same way again (at least not soon).

The problem is that the EXACT same problem that occurred in 2008 for houses, is poised to occur in commercial buildings. The real downside to this is that instead of the loan amounts being hundreds of thousands, it's millions per.

Seems to me there is already a glut of commercial buildings, especially retail spaces. Big malls are only half full (if that) and there are some commercial strip-mall type developments that were put up in the boom years of 2007 - 2009 that are still sitting vacant a decade later (I'm thinking River Pointe in Sheridan, for example.)

Seems to me there is an opportunity there, though. If we have too much retail space + not enough living space, how long before someone figures out how to turn the former into the latter?

[Great-Kazoo]

In Denver, 25 and 70 run 55

Feds say populations over X must reduce speed limits. I agree the average should be 65, however the fossil fuel alarmist will DEMAND a reduction, like they stuck us with in the 70's with a national hwy. 55 mph

[sbgixxer]

Why reduce it by 10 mph? It's 75 throughout most of the country. 85 in Wy west of Cheyenne, UT towards the end of 70 then 15.

Hey I'm with ya Kazoo, I just doubt they'd go for 75 mph through the heart of Denver. 85 mph in WY??? Wow! I remember when Montana tried, "safe and prudent". I love the idea.

[BladesNBarrels]

Seems to me there is already a glut of commercial buildings, especially retail spaces. Big malls are only half full (if that) and there are some commercial strip-mall type developments that were put up in the boom years of 2007 - 2009 that are still sitting vacant a decade later (I'm thinking River Pointe in Sheridan, for example.)

Seems to me there is an opportunity there, though. If we have too much retail space + not enough living space, how long before someone figures out how to turn the former into the latter?

Local community zoning commissions don't like to downgrade the zoning of a property.
Commercial pays the majority of property tax by Colorado Law, so rezoning to Residential is a real tough sell. (There is a pun in there somewhere)

[Irving]

There is already an issue with artists trying to live in commercial spaces.