What is your take on the Denver housing market?? Have we finally hit the bubble? Is it going to burst soon?
We bought our 1700 sq foot house in South Denver as a foreclosure in April 2008 for $175,000 and we could sell it now easily for $350,000. We've made a lot of improvements over that time (it's a completely different house) but I definitely wouldn't pay $350,000 for our newly improved house.
My brother just turned 30 and is starting to settle down a bit. He's ready to ditch his downtown rental condo and buy either a condo or a house. I keep telling him that I'd be really worried about buying right now. I think rents are going to start going down in the next year - the influx of condos being built is insane. But then again, I don't know how many people are moving here to keep the demand going on the new supply.
What is everyone's opinion?