By: Craig T. Watrous
We came across an interesting article this week discussing the contentious construction-defects reform currently pending in the Colorado Senate. Builders have been the most vocal advocates of the attempted reform arguing that Colorado’s construction-defects law makes it too risky and expensive to build condominiums. Teeing off on this argument, various lobbying groups have argued that the construction defects law has resulted in less affordable housing being developed within the state. The following article takes a different more consumer/homeowner friendly side of the argument. Namely it argues that the lack of affordable housing is not the result of overly stringent legislation but rather the result of various economic factors and the fact that currently apartment complexes are more lucrative than condominiums. It concludes that results of the proposed reform would leave homeowners with far fewer rights against builders who cut corners. See what you think and what side of the argument you side with.
For reference, here’s a recent article from the Denver Post which does a decent job of summarizing both sides of the argument.
Craig T. Watrous is a Colorado business and real estate litigation attorney with Mallon Lonnquist Morris & Watrous, PLLC, based in Denver, Colorado. Craig regularly represents businesses and individuals in real estate transactions and disputes. He can be reached at email@example.com.