Business View Magazine - April 2024

back into the condo market. The more condos there are, the more potential for home ownership. “We’re trying to open up that market segment again because it’s traditionally the more inexpensive way to provide entry-level ownership opportunities,” Leighty explains. CAHB is working within a coalition called the Homeownership Opportunity Alliance to try and tackle this construction defects issue. of insurance way up. This led to the insurance market mostly leaving Colorado, meaning a lot less construction and new developments. The law in question largely affected the condominium market. Before 2007, condos represented around 20- 25% of new builds, and today that number is around 5%. For some time, it reached as low as 2%. The idea behind CAHB’s efforts is to bring down the cost of insurance to incentivize more builders to get 29 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 04 COLORADO ASSOCIAT ION OF HOME BUI LDERS