Denver housing market crash? (Louisville: sale, new home, find a job)

[spets]

Originally Posted by davebarnes

How to buy at a lower price.
1. Save up at least $500K.
2. Wait for the next recession when you and everyone you know is unemployed.
3. Buy.

That's actually what I don't want to do. A house in Denver for 500k isn't worth it for me. I have been looking for property out of the state and have actually found tons of land outside of Colorado where I could live and work comfortably and not deal with the **** that will happen to Colorado if people keep moving here..

Not looking to move out of Denver, but I just don't know. I moved here for the tech boom, made my money and now I can do anything and go anywhere. A house for 500k in Denver is a waste for me since I could do better somewhere else....

[TCHP]

Originally Posted by Best_Coast

1. I would be making literally double in LA. (and spending $1,800 on a 1 bedroom instead of $1,400 for a studio here)
2. What beautiful weather?
3. I guess there are outdoor activities if that's your thing.

Then why in the world do you stay? Life is too short to live in a place you aren't happy with and if LA is your thing, go there. Or DC, or Atlanta, or wherever. We got a lot of outdoor stuff here and variable weather to go along with it. If you can't stand it, then leave it behind.

Originally Posted by spets

That's actually what I don't want to do. A house in Denver for 500k isn't worth it for me. I have been looking for property out of the state and have actually found tons of land outside of Colorado where I could live and work comfortably and not deal with the **** that will happen to Colorado if people keep moving here..

Not looking to move out of Denver, but I just don't know. I moved here for the tech boom, made my money and now I can do anything and go anywhere. A house for 500k in Denver is a waste for me since I could do better somewhere else....

Well, to take the no fluff approach requested in your first post....Buh-Bye. We have nothing here for you any longer and it will only get worse.

Everything runs in cycles but will it crash in the next two years, highly unlikely. Will it flatten out, probably. Eventually housing starts will catch up to demand. Longer term, all these active, energetic millennials will age, fatten up some, and not get out as much, so maybe CO won't be as desirable then and things will nose over, but tha'ts another 20 years out. Until then though, it isn't happening. FWIW, CO's population has only gone up since the state's creation. I don't see that trend changing in the rest of my lifetime.

I realize CO isn't the end all be all of everything for everybody, but it is pretty darn good for a lot of people. If you don't like it, why stay and complain. Move on.

[Timmyy]

Originally Posted by spets

That's actually what I don't want to do. A house in Denver for 500k isn't worth it for me. I have been looking for property out of the state and have actually found tons of land outside of Colorado where I could live and work comfortably and not deal with the **** that will happen to Colorado if people keep moving here..

Not looking to move out of Denver, but I just don't know. I moved here for the tech boom, made my money and now I can do anything and go anywhere. A house for 500k in Denver is a waste for me since I could do better somewhere else....

There was a tech boom 3+ years ago? Tech has been booming since the dot com bubble burst almost 20 years ago.

If you are waiting for the market to fall out you will be waiting a while.

"i hear really bad news about the housing market in Denver." Can you tell us where you heard this really bad news about the market?

[Timmyy]

Originally Posted by Best_Coast

1. I would be making literally double in LA. (and spending $1,800 on a 1 bedroom instead of $1,400 for a studio here)
2. What beautiful weather?
3. I guess there are outdoor activities if that's your thing.

1. I would be making about 50% more if I took my job to California but I would be paying about that much or even more for housing and other costs.
2. Most people that live here love the weather. I think it is great and I moved here from San Diego. It is subjective though.
3. Lots of people live here for the outdoor activities. If it isn't your thing, stay inside.

[headingtoDenver]

Originally Posted by Timmyy

"i hear really bad news about the housing market in Denver." Can you tell us where you heard this really bad news about the market?

People who hear this really bad news probably heard it from someone who currently can't afford a house and is hoping for a crash so they can afford a house.

[Best_Coast]

Originally Posted by TCHP

Then why in the world do you stay? Life is too short to live in a place you aren't happy with and if LA is your thing, go there. Or DC, or Atlanta, or wherever. We got a lot of outdoor stuff here and variable weather to go along with it. If you can't stand it, then leave it behind.



Well, to take the no fluff approach requested in your first post....Buh-Bye. We have nothing here for you any longer and it will only get worse.

Everything runs in cycles but will it crash in the next two years, highly unlikely. Will it flatten out, probably. Eventually housing starts will catch up to demand. Longer term, all these active, energetic millennials will age, fatten up some, and not get out as much, so maybe CO won't be as desirable then and things will nose over, but tha'ts another 20 years out. Until then though, it isn't happening. FWIW, CO's population has only gone up since the state's creation. I don't see that trend changing in the rest of my lifetime.

I realize CO isn't the end all be all of everything for everybody, but it is pretty darn good for a lot of people. If you don't like it, why stay and complain. Move on.

I will be leaving.

[bluescreen73]

Originally Posted by Best_Coast

I will be leaving.

https://www.youtube.com/watch?v=7ifOMZgF0nM

[Pesare]

My two cents on this topic is that I still think depending on the area average home prices will still increase especially in the lower price ranges <400K. I am thinking the price increases for higher priced homes which are over 500K will slow down and in some cases their prices may decrease a little. The reason why I don't foresee a price decrease is that inventory is still very low and the building will not catch up to demand for at least a few years and with newly built home prices high it won't make a difference in lowering the prices of existing homes for sale. For people that think that prices can't go higher because prices are already high that is a big fallacy as we can see in California with the exception of the housing crash ten years their prices have been continuously going up for the past 20 years.

[NorthDenverGirl]

There is actually a lot of level headed and good information in this post and I am not talking about "the weather is bad here in Denver", try living in St Louis.

We lost a house in the last bust (in St Louis) so I am overly cautious myself. However, the fact that people are still moving here, companies are still moving here, inventory is still very low and that we do still have room to expand especially North and South, means that if something is to happen it would likely be a leveling off rather than a complete crash like we saw in 2009 - 2011 era.

I agree that homes in the $500,000 above are already starting to see a little leveling off but anything under that is still very competitive when it comes to multiple bids and interest. Lots of buyers not enough houses, until that changes we will continue to see prices rise.

[Timmyy]

Originally Posted by NorthDenverGirl

There is actually a lot of level headed and good information in this post and I am not talking about "the weather is bad here in Denver", try living in St Louis.

We lost a house in the last bust (in St Louis) so I am overly cautious myself. However, the fact that people are still moving here, companies are still moving here, inventory is still very low and that we do still have room to expand especially North and South, means that if something is to happen it would likely be a leveling off rather than a complete crash like we saw in 2009 - 2011 era.

I agree that homes in the $500,000 above are already starting to see a little leveling off but anything under that is still very competitive when it comes to multiple bids and interest. Lots of buyers not enough houses, until that changes we will continue to see prices rise.

I completely agree.