More than a decade after the recession, the Denver metro area is dealing with a tight housing deficit that is driving prices to prohibitive levels, the Denver Post reports.
The difference between what is built in the region and what was needed to accommodate households is expected to peak this year at 32,120 units, according to Phyllis Resnick, lead economist for the Colorado Futures Center at Colorado State University.
Wary of the overbuilt market that aggravated the housing crisis, many builders are over-cautious of producing too much housing, said Aaron Terrazas, a senior economist with Zillow. They are also dealing with labor shortages and land restrictions.
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