Denver an epicenter for defaults

[HarryBosch]

Here’s a good article about the Denver bubble:

http://www.usatoday.com/money/economy/housing/2008-04-01-foreclose_N.htm

And take a look at this graphic:

http://www.usatoday.com/news/graphics/foreclosure_map/foreclose.htm

Make sure to zoom out.

[jpinpb]

Wow. That’s almost as bad as Temecula

[jpinpb]

Wow. That’s almost as bad as Temecula

[jpinpb]

Wow. That’s almost as bad as Temecula

[jpinpb]

Wow. That’s almost as bad as Temecula

[jpinpb]

Wow. That’s almost as bad as Temecula

[surveyor]

notes

I thought this was an interesting statement:

Most people who lose their homes to foreclosure become renters again. That’s happening so swiftly in Denver and other parts of Colorado that vacancy rates for apartments have dropped from more than 10% a few years ago to about 5% today, says Williams, the Colorado housing official. The nation’s apartment vacancy rate dropped from 6.9% in 2003 to 5.6% in 2007, according to research by Marcus & Millichap Real Estate Investment Services.

“We’re seeing a lot more stress on the rental market,” Williams says. “If more supply doesn’t come in, we’re going to see rents rise.”

That’s happening already: The average rent that landlords sought for an apartment in Denver in 2007 rose 3.9% over the previous year, according to Marcus & Millichap.

I’ve been seeing this symptom (the rising scarcity of rental units due to foreclosed homeowners becoming renters) manifest itself here modestly in San Diego.

[surveyor]

notes

I thought this was an interesting statement:

Most people who lose their homes to foreclosure become renters again. That’s happening so swiftly in Denver and other parts of Colorado that vacancy rates for apartments have dropped from more than 10% a few years ago to about 5% today, says Williams, the Colorado housing official. The nation’s apartment vacancy rate dropped from 6.9% in 2003 to 5.6% in 2007, according to research by Marcus & Millichap Real Estate Investment Services.

“We’re seeing a lot more stress on the rental market,” Williams says. “If more supply doesn’t come in, we’re going to see rents rise.”

That’s happening already: The average rent that landlords sought for an apartment in Denver in 2007 rose 3.9% over the previous year, according to Marcus & Millichap.

I’ve been seeing this symptom (the rising scarcity of rental units due to foreclosed homeowners becoming renters) manifest itself here modestly in San Diego.

[surveyor]

notes

I thought this was an interesting statement:

Most people who lose their homes to foreclosure become renters again. That’s happening so swiftly in Denver and other parts of Colorado that vacancy rates for apartments have dropped from more than 10% a few years ago to about 5% today, says Williams, the Colorado housing official. The nation’s apartment vacancy rate dropped from 6.9% in 2003 to 5.6% in 2007, according to research by Marcus & Millichap Real Estate Investment Services.

“We’re seeing a lot more stress on the rental market,” Williams says. “If more supply doesn’t come in, we’re going to see rents rise.”

That’s happening already: The average rent that landlords sought for an apartment in Denver in 2007 rose 3.9% over the previous year, according to Marcus & Millichap.

I’ve been seeing this symptom (the rising scarcity of rental units due to foreclosed homeowners becoming renters) manifest itself here modestly in San Diego.

[surveyor]

notes

I thought this was an interesting statement:

Most people who lose their homes to foreclosure become renters again. That’s happening so swiftly in Denver and other parts of Colorado that vacancy rates for apartments have dropped from more than 10% a few years ago to about 5% today, says Williams, the Colorado housing official. The nation’s apartment vacancy rate dropped from 6.9% in 2003 to 5.6% in 2007, according to research by Marcus & Millichap Real Estate Investment Services.

“We’re seeing a lot more stress on the rental market,” Williams says. “If more supply doesn’t come in, we’re going to see rents rise.”

That’s happening already: The average rent that landlords sought for an apartment in Denver in 2007 rose 3.9% over the previous year, according to Marcus & Millichap.

I’ve been seeing this symptom (the rising scarcity of rental units due to foreclosed homeowners becoming renters) manifest itself here modestly in San Diego.

[surveyor]

notes

I thought this was an interesting statement:

Most people who lose their homes to foreclosure become renters again. That’s happening so swiftly in Denver and other parts of Colorado that vacancy rates for apartments have dropped from more than 10% a few years ago to about 5% today, says Williams, the Colorado housing official. The nation’s apartment vacancy rate dropped from 6.9% in 2003 to 5.6% in 2007, according to research by Marcus & Millichap Real Estate Investment Services.

“We’re seeing a lot more stress on the rental market,” Williams says. “If more supply doesn’t come in, we’re going to see rents rise.”

That’s happening already: The average rent that landlords sought for an apartment in Denver in 2007 rose 3.9% over the previous year, according to Marcus & Millichap.

I’ve been seeing this symptom (the rising scarcity of rental units due to foreclosed homeowners becoming renters) manifest itself here modestly in San Diego.

[svelte]

If the economy keeps tumbling, it may alleviate the upward pressure on rents. I remember in the 1990s when the economy tanked, people started doubling- and tripling-up on apartment/house rentals to save $$…that in part drove rents down since it drove vacancy rates up.

[svelte]

If the economy keeps tumbling, it may alleviate the upward pressure on rents. I remember in the 1990s when the economy tanked, people started doubling- and tripling-up on apartment/house rentals to save $$…that in part drove rents down since it drove vacancy rates up.

[svelte]

If the economy keeps tumbling, it may alleviate the upward pressure on rents. I remember in the 1990s when the economy tanked, people started doubling- and tripling-up on apartment/house rentals to save $$…that in part drove rents down since it drove vacancy rates up.

[svelte]

If the economy keeps tumbling, it may alleviate the upward pressure on rents. I remember in the 1990s when the economy tanked, people started doubling- and tripling-up on apartment/house rentals to save $$…that in part drove rents down since it drove vacancy rates up.

[Author]

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