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Denver Metro's 2009 Economic Forecast
There are a lot of opinions about the future of the Denver economy.  Many are rather positive and some are much more negative.  Who do you believe? 
No one has a crystal ball.  Most of the predictions for 2008 turned out partly wrong because no one could predict the gas price hikes to $4 a gallon or the crisis in the lending and banking industry because of foreclosures.
I attended a luncheon for realtors yesterday where Patricia Silverstein of Development Research Partners, Inc. shared some of her company's predictions for 2009 based upon their extensive research.  Because of their extensive research and years of experience in watching and analyzing the trends, I tend to put quite a bit of faith in what they say. 
I'll share a little of what Patricia had to say.  She told us that Colorado is outperforming the U.S. in many areas. Unemployment is lower, the median home price is higher, retail sales are more stable, home prices are more stable, total personal income is growing faster and per capita income is higher. 
Development Research predicts home sales in metro Denver will increase slightly in 2009, but new home sales will decrease even more.  ... more

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