Golden Happenings, Snow, and Some Good Real Estate News

I cant believe the year is winding down, and winter is cranking up!!  We now have snow on the ground, and on the foothills.  With all the lights up in downtown and by the river, it is truly a winter wonderland.  December is a fun month in Golden.  The annual candlelight walk was last Friday, where many residents and visitors walk down Washington Ave holding candles, singing Christmas carols, and sipping apple cider and other drinks.  As everyone arrives down by the river, the Christmas tree is lit, while carolers and performers sing and dance.  It is quite a site.  Every weekend as well, Golden hosts their own Christmas parade.  It is quite the scene in Golden these days. 

I just read an interesting article by Lawrence Yum, chief economist of the National Association of Realtors.  Yum states that with rental rates on the rise, typically housing prices follow over time as well.  Based on the fact that rental rates are rising on average 3.5% a year,  they would double in 14 years.  If home prices catch up, which historically they do, Yum sees housing prices doubling in the next 14-20 years as well.  Yes, that means that it wont happen tomorrow, but that the long term future of real estate is still very bright!  Ironically, while many people are choosing to rent, it is becoming increasingly more expensive to rent, while buying remains as inexpensive as ever. 

Merry Christmas to all

-Jeff Fox