Colorado Republicans Continue Fight for Affordable Housing
Colorado Republicans continue to fight for the right to affordable housing by pushing for changes to state laws that will ease the burden on builders and encourage the construction of more affordable condos. That fight most certainly will continue into the next legislative session starting in January.
The decline in condo construction over the past two decades has left many Coloradans struggling to find an entry-level home at a reasonable price. The root of the issue lies in Colorado's lack of safeguards for developers, leaving them vulnerable to costly lawsuits over minor defects. This has made it difficult for builders to find insurers and has caused a significant drop in the number of developers willing to take on condo projects.
Builders argue that they are not trying to shirk responsibility for their work, but rather, they are faced with an unfair playing field. On the other hand, lawyers representing homeowners say that builders are simply looking to maximize their profits and could easily prevent lawsuits by avoiding negligence.
Caught in the middle of this power struggle are hard-working Coloradans who just want to find an affordable place to call home.
In response to the housing crisis, a group of lawmakers is taking action to jumpstart condo construction and address the issue of construction defects. Their proposed legislation includes isolating liability to those who actually did the work and creating a more efficient way for builders to address defects before they lead to lawsuits.
The real question is, will the Democratic majority in the legislature support these changes?
Some Democrats argue that construction liability is not the main issue when it comes to increasing the number of homes available to entry-level buyers. Governor Jared Polis, however, expressed his support for efforts to reduce the number of construction defects lawsuits at The Colorado Sun's SunFest conference last week, stating that it would help reduce housing costs.
The decline in condo construction has had a significant impact on Colorado's housing market, with the number of new units dropping by 80% in recent years. And with the median sale price for condos being significantly lower than single-family homes, many Coloradans are looking to condos as a more affordable option. However, with fewer and fewer developers willing to work on condos due to the threat of lawsuits, this option is becoming increasingly scarce.
Bills addressing construction liability have come and gone in the legislature for decades, with changes sometimes benefiting the plaintiffs and other times benefiting the builders. But now, conservative lawmakers are championing reform in order to provide more affordable housing options for Coloradans.
As Coloradans demand more housing choices at more affordable prices, It's time for the Democratic majority to join them in their efforts and finally give hardworking families a chance at affordable homeownership.