It was just a few days ago that I expressed my shock and near cardiac reaction to the fact The Denver Post actually wrote a positive story about our housing market (Case-Shiller Ranks Rocky Mountain Region Tops in Country). Guess the editors are back from vacation.
Check out this headline from The Post:
"INVESTORS AVOIDING PROPERTY IN REGION"
Now check out the premise: Because Denver's commercial and residential markets are holding up well compared to the rest of the country, investors are having a harder time finding bargains.
"Denver is holding up well compared to the rest of the United States," said Seth Walkov, vice president and portfolio director at Madison Capital Management.
"Denver is looked upon pretty favorably," said Susan Smith, editor-in-chief for PriceWaterhouseCooper's Real Esate Investor Survey.
"Intuitively, you would think bargains would be out there," said Mark Sidell, president of Gart Properties. "But the immediate horizon doesn't look to be populated with great opportunities."
You have got to love this.
The market is too stable for investment.
The Denver Post interviews vultures who say there's not enough roadkill in Denver. Yep, guess that qualifies as bad news.