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Old 04-03-2010, 05:16 PM
 
Location: Pueblo - Colorado's Second City
12,170 posts, read 20,920,900 times
Reputation: 4252

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Quote:
Originally Posted by jazzlover View Post
Given the complete stupidity of development in Las Vegas during the last few years, and the savage aftermath of that overdevelopment in that city, I would think the last place anyone would think that a "reputable" developer would come from would be there. Actually, "reputable developer" has become an oxymoron. And, no, an "oxymoron" is not a hyper-ventilating moron, though that is a pretty good term for the Pollyannas who think we are anywhere near emerging from this economic mess--either nationally or in Colorado.
Las Vegas has had issue but there is still a lot of money in that town and the developer I am talking about has developments all over the country from Houston to Tucson. I understand some people do not like developers, and in some cases that is deserved. However, in this case from reading the news reports and their profile I feel confident that this is not some fly by night developer looking to make a quick buck. That gives me more confidence that this development will happen and improve the economy of Pueblo and Colorado Springs once it starts.

 
Old 04-08-2010, 02:37 AM
 
3,460 posts, read 4,928,102 times
Reputation: 6677
CU is looking to cut 338 positions.

9NEWS.com | Denver | Colorado's Online News Leader | University of Colorado system announces more budget cuts
 
Old 04-08-2010, 08:20 AM
 
Location: Earth
1,452 posts, read 3,653,215 times
Reputation: 873
Mountain of foreclosures in Colorado resort communities - The Denver Post

not necessarily rural CO, but relevant nonetheless
 
Old 04-08-2010, 09:15 AM
 
9,830 posts, read 19,496,821 times
Reputation: 7596
Quote:
Originally Posted by Shuffler View Post
Mountain of foreclosures in Colorado resort communities - The Denver Post

not necessarily rural CO, but relevant nonetheless
I can be a sympathetic person, but those people, sorry I can't be.

One guy with a home he bought in 1989 for $55K and somehow over 20 years he didn't pay that off?

Another guy making up to $600K a year and never bothered to sock any away?

I have a lot of family and friends going through hard times in Vail. For a variety of reasons I think the "good ole days" are over. It never made any sense at the time and doesn't now. There are still some trying to live in 2005 there but reality is gradually catching up.
 
Old 04-08-2010, 10:21 AM
 
Location: Earth
1,452 posts, read 3,653,215 times
Reputation: 873
Quote:
Originally Posted by wanneroo View Post
I can be a sympathetic person, but those people, sorry I can't be.

One guy with a home he bought in 1989 for $55K and somehow over 20 years he didn't pay that off?

Another guy making up to $600K a year and never bothered to sock any away?

I have a lot of family and friends going through hard times in Vail. For a variety of reasons I think the "good ole days" are over. It never made any sense at the time and doesn't now. There are still some trying to live in 2005 there but reality is gradually catching up.
I seem to recall the deal in Vail about a parking garage space (a 1-car parking spot) on the market for some ridiculous amount of money...I wonder if it ever sold.

When I was going through Vail on I-70 last year, I counted 6 or 7 huge construction cranes scattered around town...so was that a last-gasp infusion of money to prop up a failing economy, or what?
 
Old 04-08-2010, 11:26 AM
 
9,830 posts, read 19,496,821 times
Reputation: 7596
Quote:
Originally Posted by Shuffler View Post
I seem to recall the deal in Vail about a parking garage space (a 1-car parking spot) on the market for some ridiculous amount of money...I wonder if it ever sold.

When I was going through Vail on I-70 last year, I counted 6 or 7 huge construction cranes scattered around town...so was that a last-gasp infusion of money to prop up a failing economy, or what?
That was the lot across from the old Christiania hotel and they came up with the brilliant idea of the "vail founders club"(some stupid name like that, can't remember) and built a parking garage with the parking spots going for six figure sums. It was a case of excessive absurdity the likes I've never seen.

They have a number of projects going on downtown and it's the trailing end of the boom and unfortunately in my opinion is pretty much the end of Vail Village as a decent place to be. Some of the projects are in financial difficulty, one I believe has stopped completely which will be one hell of an eyesore and some when finished are going to be empty or part empty.

Somehow people believed that the market could absorb thousands of homes and condos in the Vail Valley region marked in the multi million dollar range. When you look at the number of millionaires out there and then take the number that would actually be interested in having a massive place in Vail and then look at how many other types of towns tried to compete with the same type of product, well I think they way overestimated.

There are some big real estate names in Vail headed for bankruptcy. And there is a lot of stuff not in the papers. Everyone is desperately trying to keep the balloon inflated but it is death by a thousand pin pricks.
 
Old 04-08-2010, 11:52 AM
 
Location: Colorado Springs, CO
2,221 posts, read 4,731,378 times
Reputation: 1696
I was reading a few days ago that Stank of America is jacking up their 2010 foreclosure production sixfold, from 7,500 to 45,000 foreclosures...per month.

Bank of America to Increase Foreclosure rate by 600% in 2010

Live by the bubble, die by the bubble. I am laughing my debt-free a** off at these irresponsible clowns--especially the former $600K/yr banker in Vail that should have known better and got caught drinking his own bong water. Sometimes a cup of fraudenschaŁde chased with a nice shot of home-brewed espresso make for a most pleasant morning...

Yesterday I was especially amused to see Charlie Prince, the de-throned CEO of Sh*tibank, testifying before the FCIC, telling them that nobody could have seen the collapse of the housing bubble coming. There were lots of us that saw it coming...he just seems to think that everyone on the planet was wearing the blinders of greed that he and all the other pigmen around him had on.

Mortgage rates are at 8-month highs and headed higher. Mortgage lenders have been tightening standards significantly in the last 1-2 weeks. The free gub'mint homebuyer cheese is almost gone. All the artificial manipulation of housing prices will unravel...maybe even explosively so. At some point we can't pull demand forward any more, and the fundamentals take over again...and as I've asked in the forum many times, how much home can all those millions of displaced and unemployed people afford?


Give me liberty
Or give me debt!
 
Old 04-12-2010, 10:41 PM
 
Location: Colorado Springs, CO
2,221 posts, read 4,731,378 times
Reputation: 1696
Another Colorado "green shoot" sighting...Denver now ranked #2 in the top ten worst-selling housing markets in the US.

America's 10 Worst-Selling Housing Markets in 2010
 
Old 04-15-2010, 05:56 PM
 
Location: Pueblo - Colorado's Second City
12,170 posts, read 20,920,900 times
Reputation: 4252
Exclamation Monarch expects record ski season

Some good news for at least some local ski resorts. That is good for the economies of the ski towns.

Among resorts that have already closed, Sunlight says it expects a 10 percent increase in skier days from last year. Eldora also projected an increase, and Monarch expected to report a record season.

The link: NewsFirst5.com | Colorado Springs news, Colorado Springs weather, Pueblo news, Pueblo weather |Monarch expects record ski season
 
Old 04-22-2010, 05:49 PM
 
Location: Pueblo - Colorado's Second City
12,170 posts, read 20,920,900 times
Reputation: 4252
Exclamation BEA releases personal income estimates for all Colorado counties

This is interesting news about the Colorado economy as it shows the best counties for income growth. Its nice to see Pueblo on the list and shows that our economic efforts to revitalize the economy are paying off.

Among metropolitan counties, Mesa County and Douglas County experienced the largest increases in per capita personal income, with incomes increasing 5.3 percent and 5.1 percent, respectively. Pueblo County was third place behind Douglas County with an increase of 4.4 percent during the same period.

The link: BEA releases personal income estimates for all Colorado counties
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