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Economic growth to remain stagnant in

 2008 for Northern Colorado

Many local economists are predicting another slow year for economic growth blaming mostly the residential housing market.  Average annual monthly growth is now at it's lowest levels in more than a decade. 

The sub-prime melt down and adjustable rate mortgages are continuing to hit Northern Colorado with foreclosures.  Foreclosures are expected to continue to poor in, which only adds more supply to a market with record level inventories.  Home values are dropping almost as fast as they escalated.  Home builders are reluctant to keep building new homes and are being forced to offer significant incentives.  Single family permits are at 14 year lows, which represent about half of the issues as 2004.  Lenders have tightened standards for borrowers and makes it even more difficult to buy a home.

What will bring back a growning economy and the housing market?  Simple, new jobs!  New jobs will  stimilate the residential construction sector and all the businessess which depend on it.  It will also stimulate the service and manufacturing sectors.  Several announcements of new jobs in the area would create about 2,000 new workers.  Until these jobs are in place and contributing to the economy, the economy will remain stagnant.

11th Annual Real Estate Conference set for October 17th at the Fort Collins Hilton

The Colorado State University Everitt Center has teamed up with the Fort Collins Board of Realtors to offer it's 11th annual conference.  More than 300 proffesionals in the finance and real estate should be in attendance for the event for great networking opportunities and recieve useful education.  For more information contact Anne Spry at Anne.spry@colostate.edu.

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