The Palisades and Eaton fires, while devastating, won't hold back the state's powerhouse economic engine for long, says Christopher Thornberg of Beacon Economics.
Colorado isn’t the only area struggling to produce enough homes to meet demand.
A survey reveals that many U. S. cities face significant housing shortages, with some mayors anticipating deficits of over 50,000 units.
That shortage continues to increase housing prices, making buying a home increasingly unaffordable. Median home prices hit $488,272 nationally last year and sat at $580,000 in Denver in November and December.
The United States Conference of Mayors and the American Institute of Architects National Housing Survey released in mid-January shows the housing shortage is a national problem.
Over half of the mayors surveyed anticipate a 5,000-to-20,000-unit shortfall in their city in the next 5 years.
Almost one in six mayors anticipate a 20,000- to 50,000-unit shortfall in their city.