Colorado Springs Real Estate News - Colorado Springs CO Real Estate
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By now you have probably heard about the latest fed rate cut, but you may not know how it could affect the Colorado Springs New Homes Real Estate area. A recent post on the Colorado Springs Business Journal Blog provides adequate — and, hopefully, accurate - information regarding just that.
According to Fred Crowley, senior economist and associate research professor at UCCS, the cut signifies “we are not in a position that can be reversed at this point,” as a recession has followed every aggressive fed cut rate, he said. The good news here, however, is that Crowley said the Pikes Peak Region, which includes the Colorado Springs New Homes area, will not be hit as hard as much of the nation by the possible recession, for two main reasons:
- “Fort Carson’s new brigade should moderate local impact of national recession”
- T. Rowe Price, Triple A of California and Progressive Insurance - all of which are playing an increasingly significant role in our local economy - have all produced “professional, less-cyclical jobs,” meaning “employment is less sensitive to business cycle downturns”
Needless to say, I am both relieved by and excited about the likely fact we will not fall into as deep a recession as many other parts of the nation. We have 6 military bases within the spread of the Colorado Springs New Homes area, so we basically have an economic buffer to begin with because the military is one of the most stable sources of economic strength. Couple that with several other major stable businesses and we have a nice anti-recession cushion that other major markets do not have.
Brian Wilson, Colorado Springs New Homes Real Estate
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