this post was submitted on 15 Jul 2023
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Colorado housing prices cool slightly, lower rates may be on the way (denvergazette.com)
submitted 1 year ago by [email protected] to c/[email protected]
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[–] [email protected] 3 points 1 year ago

I don't think the housing cooling down is going to be for a long term. Sure the interest rates are high, and housing has gotten more expensive. However, I think a factor that doesn't get discussed is house building costs.

I'm currently shopping for insurance and realized the cost to re-build per square ft is ~$330, and that was based on the Louisville fires so it's recent. If your house is 1,750 sq ft, that's $577,500... So, you're technically buying a house for cheaper than it costs to build.