The number of new home permits has spiked during January and February of 2010, bringing some more hopeful news to the Colorado Springs Real Estate market. Other econ0mic predictions include an expected 5% increase in housing values for 2010.
But before we all get too excited, Heath Herber has written an article entitled, “Watching Ice Melt at 33 Degrees,” describing the reality of gradual improvement in the housing market for Colorado Springs for 2010.
UCCS economist Fred Crowley, Ph.D. believes that our recession is definitely over, but cautions about having a slow recovery. According to Herber, “Crowley… criticizes the City of Colorado Springs and our leadership for not only failing to encourage job growth in Colorado Springs but for driving what little job growth there has been out into the suburbs and County, hence, outside the City’s tax base.”
As a result, fewer taxes means less revenues to meet Colorado Springs expected budgets; henceforth, jobs either are eliminated or growth becomes stagnant.
Feel free to contact our Colorado Springs Realtors at Selley Group Real Estate, LLC:
2139 Chuckwagon Rd, Ste 210 – Colorado Springs, Colorado 80919 – 719. 598. 5101
The originating source for this blog is derived from the following:
