With a booming economy and an influx of new people, housing is becoming more expensive, especially in Colorado’s urban areas. Advocates who support changing construct defeat laws, such as the Colorado Association of REALTORS, seem to have created enough PR buzz to bring last year’s bill to the legislature.
Supporters say it’s simply too easy to sue condominium builders for large monetary damages when something is wrong with the building. But home buyers who get faulty condos shouldn’t be left in the lurch either. Compromise could be found in the steps that must be taken before a lawsuit can be filed, such as forcing both sides to try to resolve issues out of court before a lawsuit is possible.
Observers predict that a lot of behind the scenes wrangling will take place before the bill is reintroduced. In the meantime, here’s an article that provides a good summary of the issue from both sides: http://www.bizjournals.com/denver/blog/capitol_business/2015/01/more-on-the-cover-story-construction-defects.html?ana=e_du_pap&s=article_du&ed=2015-01-06&u=IEeHh6jNmpppWDxduVUD1A0f6c7e92&t=1420664895&page=all
