Rockies fever has gripped the area. After giving this season up for dead a month or 2 ago, many closet Rockies fans are coming out, especially after they won yesterday in their first playoff game against Philadelphia. Schools announced the score on the loudspeakers, businesses had the game on in their lobbies, it was great! The Avalanche game that kicked off hockey season was not even noticed, and surprisingly few even were talking about the upcoming Broncos football game Sunday against San Diego. Baseball is back! It is really a great story to see a team win 14 of their last 15 games and make it into the playoffs.
While it won't fix the real estate market here, it gives a nice bright hopeful feel to things.
I had an interesting conversation with someone yesterday about their view of the current market. With foreclosures high, and prices low, his take is that this is the perfect time to invest in rental property, provided financing is available (which it is). Since demand for rentals is actually increasing as some have had to vacate their homes, buying now, at a low point in the cycle, covering cash flow with rents that seem to be firming up, and selling 5 years from now when the market is more normal, seems like a great strategy to me as well.