I think the real key is absorption. |
I think there is a lot of pent-up demand, a lot of people thinking of buying houses are doubling up, and the economy is getting better. |
If you take the communities along the I-70 corridor - Summit, Eagle, Aspen and Glenwood Springs and Grand Junction - they're all doing very well. |
These are people who are living on the bubble. |
Vacancy rates have gone down a bit, but owners are still behind the power curve. To attract residents and bring vacancy rates down, apartment owners had to offer incentives or discounts, despite their costs increasing. |