There is a great debate in Colorado, between builders and the people who buy homes.
After a number of cases where poorly constructed condominium complexes caused a flurry of construction defect lawsuits, an unfortunate chain reaction was set off. Builders felt forced to insure themselves against potential claims, which in turn drives up the cost of homes.
Lakewood Mayor, Bob Murphy has been leading the charge to resolve the dilemma which he sees as a housing issue. Murphy says the future of attainable housing is at stake while contractors continue to build rental units, rather than owner-occupied housing, which would allow various socio-economic groups to build equity. He says there needs to decent condo option in the $150,000 – $250,000 price range, for college graduates to buy their first homes, and for retirees to downsize from the larger houses where they raised their families.
Another particular concern is the need for housing surrounding the new and future light rail stations. These are ideal areas for a variety of housing, and would be best suited if both rental and owner occupied homes were mixed together.
Join us for a frank discussion with Mayor Bob Murphy about the controversial measure, passed by the city of Lakewood, making it more difficult for homeowners to sue builders over such defects.