Colorado lawmakers are proposing a shift to state centralization of zoning regulations after a two-year homebuying frenzy characterized by a record net inflow of migrating buyers coupled with soaring prices and a severe shortage of for-sale housing.
To address and mitigate an ongoing affordability crisis, state leaders are advocating for land-use reform that would prohibit residential growth caps, change parking requirements, legalize denser developments across the state, and lead to new construction near transit corridors, The Denver Post reports.
The need is mounting: New housing builds have cratered since the 2008 financial crisis, according to analyses by the Common Sense Institute and the Colorado Housing Affordability Project, as migration into the state and prices have surged. Colorado needs to build tens of thousands of new units each year to just keep the market stable. Supporters of reform say the best way to kickstart that growth is through statewide land-use reform that’s geared toward supply, speed, density and affordability.
Down Payments Are Shrinking, but Not in These Pricey Metros
The typical down payment is 10% smaller than it was a year ago, but buyers in these costly metros are still dishing out the big bucks for home purchases
As Climate Change Accelerates, These Southwestern Markets Are Safe Havens
Due to their high elevations, these housing markets are less susceptible to property damage from increasingly aggressive natural disasters
In These States, It May Actually Be Cheaper to Build Than to Buy
As homebuying obstacles mount, building a home is more affordable than purchasing one in these states