Vacancies in rental houses, condos at 6-year low ( Denver)

The overall vacancy rate for-rent single-family homes, condos and other non-apartment unit properties in metro Denver dropped to a six-year low of 4 percent during the second quarter, a state report released today shows.

[Financing:
The Authority used private money, not taxes, to finance the construction bonds, so no public vote was required as with W-470 or E-470. Bonds worth $386M were issued in early summer 2001. The final cost of the tollway was about $415M. When Brisa/CCR took over operation of the road in 2007, part of the agreement was paying off the Authority's outstanding bonds.]

"The consortium comprising Brisa Auto-Estradas de Portugal SA and its Brazilian affiliate Companhia de Concessoes Rodoviarias (CCR) could pay about 433 mln eur for the 99-year concession Northwest Parkway Highway, in Colorado, an amount which is more than initially expected, Jornal de Negocios reported."

Apparently SaxxonWoods doesn't know his ant-farm as well as he thinks.

W470 is different from E470. W470 is not a toll road, and was not built with private funds. It runs about a mile from my house. E470 is nowhere near Golden. It is a fast way to the airport from the SE if you don’t mind paying the toll.

Northwest Parkway is Colorado’s newest toll road that opened November 24th 2003. It connects with E-470 and I-25 at 157th Ave. The Parkway travels west and south to 96th Street. At 96th Street, traveling south it turns into a local traffic 4-lane, 45 m.p.h. arterial allowing access to US 36, Interlocken Business Park and FlatIron Crossing Mall.

The Northwest Parkway is comprised of three member jurisdictions, the City and County of Broomfield, City of Lafayette, and Weld County. Ex-officio members are Jefferson County, City of Arvada, Regional Transportation District (RTD), Interlocken Metropolitan District, and the Colorado Department of Transportation (CDOT).

The Northwest Parkway is a 100% privately funded road. No federal funds were used on the Parkway. Financing for the project is non-recourse toll revenue bonds to be repaid with toll revenues.

The Authority is organized on the philosophy of a small core staff with the majority of services being provided via contract. Currently there are only eight full-time employees.

The Northwest Parkway Public Highway Authority is located at the mainline toll plaza on the Northwest Parkway at, 3701 Northwest Parkway, Broomfield, CO. 80023.

Those foreigners you mention aren’t going to hurt anything.

I charge what the market bears. The rental maket has its ups and downs. The unit in question rented for $750 in 2000, $575 in 2003, and $655 today. It’s called supply and demand.

“Right. Everyone loves rent increases. Somehow I get the impression that any such complaints would fall on deaf ears if the ears were yours.”

Exactly, unless my units go vacant for too long. And I’m sure you would lower your pay scale if your boss said he would prefer to pay you less than you feel you are worth. Take your Socialism somewhere else.

So, not all 470s are equal.

[Those foreigners you mention aren’t going to hurt anything.]

I didn’t say they were going to hurt anything.

But their ownership does refute your statement:

“Our freeways are owned by the state”

[Exactly, unless my units go vacant for too long.]

But you said:

[I’m getting no whining here about high rents]

So that wasn't really the truth, was it? Did you expect us to believe that your tenants never complain when you raise the rates?

They whine but you don't care; That's the truth, isn't it?

[Take your Socialism somewhere else.]

Am I advocating government mandated redistribution of wealth? Nope. Not even rent controls. I think supply / demand market forces work just fine.

Recognizing that the rental market stands to profit from the michief perpetrated by subprime predators is not Socialist - it is common sense.

I don't advocate government mandated wealth redistribution - I do, however, advocate prison sentences for anyone that manipulates the housing market using fraudulent means as was/is the case in the sub-prime fiasco.

Now, about those Colorado Springs foreclosures and rental properties - I know what I saw with my own eyes but I suppose if it's not within the SaxxonWoods self-defined micro-economy, then it must not exist.

BTW, lots of folks who loved "Fooling around with real estate." did so with Sub-prime financing.

Fools go where angels fear to tread.

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