Boulder housing market defies gravity
Forget about finding a bargain house in Boulder. As housing sales and prices continue to plummet nationwide, those in the community that puts the exclamation point in 3OH!3 remain unusually robust -- so much so that Business Week has just named Boulder the strongest housing market in these United States. In a section of the article bannered "Beautiful Boulder," author Prashant Gopol offers the following explanation for the area's success:
The capital of Ballorado.
Boulder has several factors working in its favor. The town has controlled growth by putting limits on development and by acquiring more than 50,000 acres of open space for a greenbelt that surrounds the town. With the boundary of the Rocky Mountains to the west, the supply of new homes has been restricted.
Boulder's economy and housing market have slowed, but the University of Colorado provides jobs and a steady flow of tenants for the area's many rental homes. Demand for housing is also strong in part because the area is so pretty, said Tom Thibodeau, global real estate capital markets professor at the University of Colorado.
"Every year 5,000 undergraduates enter, and they don't want to leave when they graduate," Thibodeau said.
Ah, so that's the problem: entitled trustafarians hogging our real estate....