photo credit: woodleywonderworks

It may be hard to believe in todays market, but the growing consensus is that there is a possible housing crisis on the horizon. This is overshadowed, of course, by our current financial predicament. At the moment, very few people are thinking of purchasing a home, so its hard to consider there may actually be a shortage. However, looking into the future just a bit, people and our Nation will recover, and people will be purchasing again.

Deciding early where you want to live can make a difference of where your place in line will be. Talking to a broker or real estate agent early may give you a jump on the market to come. Develop a relationship with your real estate agent and get a feel of where you want to live, doing this early can spare you the mad dash for housing later. Visit MetroBorkersOnline.com to see the list of brokers, agents, and listings.

According to the Census Bureau, we built fewer homes than are needed to keep up with the growth rate. The housing market may not be prepared for the inescapable rush for housing in the near future. Because of people moving in together, moving back in with parents, and the general employment and housing crunch, the constrained desires of people to acquire a home will result in a new found freedom to purchase again.

Even if you are in a difficult place at the moment, plan ahead a little and visit a realtor early. Secure yourself a place in line now.

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photo credit: James K Thorp

A much needed boost to the Denver economy is coming in the form of affordable housing built with low-income housing tax credits. This will also result in hundreds of new jobs for local residents. The report was given to public policy makers and housing advocates by Elliot Eisenberg, senior economist at the National Association of Home Builders.

People underestimate the impact low-income housing has on a local economy. It is often thought that people in subsidized housing do not contribute to the economy as much as others. However, the opposite turns out to be true. Due to their situation, living paycheck to paycheck, they spend everything they earn on education, health care, etc. which contributes greatly to the economy.

To find information about affordable housing, go to www.hud.gov and Colorado Housing and Finance Authority

It looks like local residents will enjoy $57.6 million in income, $5 million in taxes and 732 jobs the first year alone, and will increase thereafter.  Much of the new development will be focused around Denvers light rail and rapid bus transit system that voters approved. They also want to spread the development around, not putting it all in the "bad areas of town."

No matter where the development is, people are sure to appreciate the boost to our economy. Local residents have been long awaiting a sigh of relief.

Read the full story at Inside Real Estate News