Recently I attended an Economic Summit hosted by the Denver Metro Association of Realtors at Mile High Stadium. There were about 500 of my peers — fellow Realtors that like to be dialed into the market, out of about 40,000 in Colorado — there to learn what the data is showing in terms of where we have been and where we think we are, with the aim of getting a feel for what the future may hold. I geek out on stats and enjoy a variety of perspectives so, of course, this was an exciting event for me. The following slides will give you a glimpse of what it looked like, keeping in mind each was presented by their author.
A Handful of Highlights
- Top Story: the economy should do okay in 2020.
- Denver’s economy is strong, with housing affordability becoming a factor.
- Colorado is doing well overall; however, population growth and economic growth is more concentrated in the urban area. This is different than 10+ years ago, when Colorado benefited more evenly across the state. Our cities and towns are growing and driving economic growth for the state.
- Housing looks to be a positive growth factor for the economy, counter to the concerns of some fearing a housing bubble it my actually help us from going into a recession. Consumer spending is an important growth factor in the economy as other factors (manufacturing, auto sales, hotel vacancy rates, etc) drag us down to slower GDP growth. Watch consumer spending metrics. Trade is an issue. Our national debt is not an immediate concern but will hinder our ability to pull ourselves out of the next recession, and that could be a big issue.