Amy Aschenbrenner, CEO of the Longmont Association of REALTORS® and Kyle Snyder of Land Title Guarantee Company, were invited to make a short presentation on the 2016 Longmont Housing Affordability Study on April 4. The report demonstrates that reasonably priced homes (both attached and detached) will soon be obsolete in some Boulder County communities. Of the 12 towns included in the report, only four have more than five percent of their entire resale market as affordable (below $250,000) single family homes and only one in 12 have more than five percent of their attached market as affordable (below $150,000).
The report argues one solution to this dilemma would be revisions to Colorado construction defect statutes (and/or a local ordinance) to encourage builders to develop more condominiums, which are often affordable as entry-level homes. Polly Christensen was the only Council member to dismiss this idea, saying she simply did not believe construction defects played a role in housing affordability. Several Council members were interested in more information and agreed to participate in further meetings with LAR.