DENVER – The Denver metro area and Colorado will see continued sluggish growth as the national economy continues to stagger, according to the midyear economic report released Tuesday by the Metro Denver Economic Development Corporation.
The report finds that high levels of public and private debt and the inability of the private sector to make up for the negative impact of lower government spending will continue to plague the national economy and pose problems for Colorado.
“The recent uncertainty in the economy suggests meaningful growth will not appear until these imbalances are resolved. Even though significant progress is dependent on the resolution of these vulnerabilities, it is important to note that Metro Denver is still maintaining elements of growth, albeit slow,” Metro Denver EDC chief economist Patty Silverstein said in a public summary of the report.
The report noted that Colorado is adding jobs at a slower rate than other states, and that its geography and industry mix are unlike Texas and states in the Northeast, which are recovering faster.
However, the state and the Denver metro region both have the advantage of “comparatively healthy” real estate markets, according to the report. The commercial real estate sector is performing better than in other cities, and home prices have not fallen as dramatically as they did in other cities, according to the report.
The Denver metro area and Colorado will see continued sluggish growth as the national economy continues to stagger, according to the midyear economic report released Tuesday by the Metro Denver Economic Development Corporation.
Posted on Denver Real Estate-Denver Homes For Sale