I'm sure that you are aware that ConocoPhillips has purchased the former Storage Technology Corporation campus consisting of 1.7 million square feet of office space and sitting on 432 acres in Louisville Colorado. This absorption of office space and creation of new job growth will contribute to a continued surge in the commercial market that is already seeing a steep demand for both small and large office space. There have been several other significant transactions in Louisville, Broomfield and Westminster that all are having a positive effect on housing.
The Boulder Valley is often recognized for its contrary viewpoints and we seem to move differently than the rest of the state and nation with our business cycles too. Our local economy is moving upward while the nation faces a period of stagnant growth. Richard Wobbekind, director of the Leeds School of Business Research Division at CU Boulder, States that, "the Boulder County Leading Economic Indicator projects that the Boulder Valley economy will continue to edge forward in the second quarter 2008. It moved upward from 111,8 in the third quarter 2007 to 114.2 in the fourth quarter. This suggests that the local economy will experience continued growth during the upcoming quarter at a time that the nation is experiencing stagnant growth or recession.."
Recent data from the Office of Federal Housing Enterprise Oversight show that housing prices in Boulder County have increased by 2.9 percent in the last year. I believe that one of the reason we are going counter to the national trend is that we saw a decrease in new home construction beginning back in 2006 in this area and that has meant that we do not have the bulging inventory that other parts of the country are experiencing. The County has one of the lowest per capita foreclosure rates in the state and the unemployment level remains well below the state rate. The recent economic developments in the area show that we continue to be an attractive place to work and live.
The Boulder Valley is often recognized for its contrary viewpoints and we seem to move differently than the rest of the state and nation with our business cycles too. Our local economy is moving upward while the nation faces a period of stagnant growth. Richard Wobbekind, director of the Leeds School of Business Research Division at CU Boulder, States that, "the Boulder County Leading Economic Indicator projects that the Boulder Valley economy will continue to edge forward in the second quarter 2008. It moved upward from 111,8 in the third quarter 2007 to 114.2 in the fourth quarter. This suggests that the local economy will experience continued growth during the upcoming quarter at a time that the nation is experiencing stagnant growth or recession.."
Recent data from the Office of Federal Housing Enterprise Oversight show that housing prices in Boulder County have increased by 2.9 percent in the last year. I believe that one of the reason we are going counter to the national trend is that we saw a decrease in new home construction beginning back in 2006 in this area and that has meant that we do not have the bulging inventory that other parts of the country are experiencing. The County has one of the lowest per capita foreclosure rates in the state and the unemployment level remains well below the state rate. The recent economic developments in the area show that we continue to be an attractive place to work and live.
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