Housing News Digest August 3

Private Sector Adds 114,000 Jobs, But Layoffs On the Rise

Private sector payrolls rose at a faster pace than expected in July, but a surprising increase in layoffs in the sector helped push the number of announced U.S. jobs cuts to a 16-month high, separate reports showed Wednesday.

Out of Work
The data come ahead of Friday's closely watched July jobs report, which is expected to show 85,000 nonfarm payrolls and a 9.2 percent unemployment rate.

Number of Colorado layoffs down in July
Colorado employers announced plans to eliminate 169 jobs in July, a marked drop from the 311 job cuts a month earlier, according to a report released today by outplacement firm Challenger, Gray & Christmas Inc.bizWatch So far this year, Colorado employers have announced 4,970 job cuts.

Russian Billionaires Buy in U.S. as Mansions Lure Wealth
Foreign buyers are also turning to resort locales such as the ski area of Aspen, Colorado, said Tim Estin, a broker at Mason Morse Real Estate in the town.

“It’s a pre-eminent international mountain resort brand,” Estin said of Aspen, where luxury properties are selling at discounts of as much as 30 percent from the peak.

In the last three years, Aspen had at least five deals above $10 million in which the purchaser was from Russia, according to Craig Morris, president of the town’s Morris & Fyrwald Sotheby’s International Realty.

Real Estate News: Home Listings Fall but Woes Persist
House of the Day: High Tech Home in Denver: Accessing this contemporary Colorado home is no easy feat: the outside gate has a hidden camera and keypad access, and the front door requires thumbprint recognition instead of a key to enter. More cool gadgets await inside.

ULC holds ground breaking
The Urban Land Conservancy today hosted federal, city and community leaders for a groundbreaking ceremony at Mile High Vista in west Denver to signal the start of development of a public library, mixed-use, multi-family workforce housing and commercial space in partnership with the City and County of Denver and Del Norte Neighborhood Development Corporation.

Richmond by far biggest builder
Richmond American Homes of Colorado was by far the most active home builder in the Denver area during the first half of the year, according to a report released today.

A report by the Home Builders Association of Metro Denver showed that Richmond, which is owned by Denver-based M.D.C. Holdings, pulled 203 building permits in the metro area from January through June. The next biggest builder was Century Communities with 131. Permits represent future building permits.