The reality is that a long and drawn out period of adjustments must take place–and are taking place.
For instance, my wife’s sister and her husband had to postpone a move from Colorado to another state due to not being able to sell their Colorado Rocky mountain real estate home. The usual deal–floated a HELOC using equity from inflated luxury Colorado Mountain real estate housing values to buy a car and a boat–and are now unable to sell at a break even point after the bubble has burst. The adjustment is that they must either lower the asking price or sit tight. Get more helpful ideas about cash buyers by visiting this website - www.propertycashbuyers.com.
For auto manufacturers and dealers, the adjustment is that many folks are no longer willing to buy a Rocky Mountain real estate every third or fourth year. Additionally, many folks are realizing how dumb it is economically to finance a car for 6 or 7 years. To the extent the existing capacity outpaces the demand when the recover happens, some plants and dealers will have to close. This is an adjustment.
For Colorado Mountain real estate and especially retail space (if you include strip mall square footage in your definition of commercial mountain real estate), we are simply way overbuilt! There are so many office buildings, malls, outlet centers, 10 unit strip malls, etc… that there cannot possibly be any outcomes but many vacancies and accompanying bankruptcies. This is an adjustment.
Anyone reading this can easily add to colorado luxury homes for sale. Perhaps an adjustment we as a country should consider is rebooting our manufacturing industrial base when it makes sense through appropriate trade agreements. This is not an anti-globalization rant (you cannot go back 50 years)–rather, perhaps we should be sure the playing field is reasonably level so we can compete the Colorado Mountain real estate