Springs ranks 9th on “Best-Bang-for-the-Buck” list

Filed under: Daily News | Tags:, , ,

Good news spreads quickly.

Based on the results of a Forbes.com study announced Monday, Area Development Online, a Web site frequented by economic and corporate site and facility expansion officials, has posted the city’s “Best-Bang-for-the-Buck” rankings.

Colorado Springs made the top list at No. 9

Click here to view the entire list.

Cities that made the top 10 have solid housing markets, relatively stable employment, low cost of living, and short commutes, compared to other major U.S. cities.

Kermit Baker, senior researcher at Harvard University’s Joint Center for Housing Studies, described the 20-plus metros on Forbes list as “sleepy little markets that have fallen under the radar screen in terms of turbulence in housing. They didn’t go through much of a boom or bust.”

That bodes well for the Greater Colorado Springs Economic Development Corporation’s relocation initiatives.

In order to come up with its list, Forbes looked at the country’s 100 largest market service areas across the following measures: foreclosures as a percentage of home prices; vacancies; unemployment rates; three-year job-growth forecast; three-year home-price forecast; housing affordability; median real estate taxes; and median travel time to work.

One Response to Springs ranks 9th on “Best-Bang-for-the-Buck” list

  1. What is the point of such a designation? Bang for the buck implies that there is so little business activity here, that if you have any money, you can by at Walmart values. What’s so great about looking like a cheap hooker? And I wouldn’t describe our local housing market as solid, would you? 5,000 foreclosures this year and building permits at early 90s levels (20 years of demand disintegration caused in part by qualifying under qualified buyers — stealing buyers from the future, as Bamberger warned years ago). Also, I wonder if the large developers here would agree that their communities experienced neither a boom nor a bust. Flying Horse, for example, sold over 300 homes in 3.5 years (that would be the boom) and more than 10% have been foreclosed (yes, and that would be a bust). Only EDC types love this kind of nonsense.

    owleye
    December 4, 2009 at 2:00 pm