Expect a Strong Real Estate Market
Tuesday morning at 2 am, I had finished the initial electronic layout when I found myself in our design room, vacantly staring at the walls covered in paper copies of the 60 pages representing the May issue of Serenity.
I have stood staring in this room many times before, alone with my thoughts about what needs to be done the next day or how much I like or don’t like what I see.
This time was different. I was struck like never before. Here on the wall was a community fighting like hell… almost screaming, “We’re not going to let this beat us! We’re not going to run and hide or put our heads in the sand!” I had no idea what to expect. However, the worst had crossed my mind—no one would want to advertise during the pandemic. Yet there it was on the Stone House walls, expressed louder, with more dignity and respect than you would see in any national news segment: “We aren’t going anywhere. We will be here now and tomorrow for our customers and community.”
No question about it—we have a ways to go before our local establishments and events are once again filled with our smiling friends. To make that happen, I urge us all, even if we are “too busy,” to get out and support our local businesses that had to shut down. Just do it! And leave a big tip if it’s a restaurant!
At the risk of sounding like I don’t care about the people who will end up on the wrong side of “life will never be the same,” our fortunes after the pandemic will be better than before, thanks to an increased demand for living here. As mentioned in last month’s Publisher’s Ponderings, I feel very lucky to live where a social distance of 100 feet comes for free—where on most mornings, I can walk a mile in the neighborhood and never pass another person; where the mountain beauty is ever-changing and unsurpassed.
It is already a reality that, because of the pandemic, people are fleeing city life. The Wall Street Journal, just today, reported that the mega landlords who emerged from the 2008 financial crisis with an inventory of hundreds of thousands of single family homes have shown gains of 30 to 50 percent driven by people wanting to escape the contamination risks associated with close living in cities and apartments. The last time I checked, demand drives up value. Expect a strong real estate market here in the foothills.
Oh, can I hear the boos from all of you real estate agent-hating locals who also worry about the trampling hoards of new residents. Settle down! Thanks to the efforts of the Mountain Area Land Trust, there are no more large tracts of land to provide any significant amount of new housing. The hoards will have to go elsewhere. As a side effect, long since proved by the Nation of Boulder, limiting inventory is guaranteed to drive up the cost of housing. Expect a strong real estate market.
And, to all our real estate agent-hating locals, get a grip! Real estate is our single largest industry and all by itself will pour a ton of money back into our recovery. Just say “thank you.” When you open your business, the customers walking through your door will most likely be realtors and their staff and their many associates such as mortgage lenders, appraisers, home inspectors and title company employees, to mention a few.
Yes, we will be on the best side of “life will never be the same.” And that is not our fault.