The Homeownership Opportunity Alliance, a coalition partner of the Colorado Association of REALTORS®, is asking for stories from those who have been affected by construction liability litigation and how it impacts the supply of affordable, attainable and available housing, especially in the condominium market.
Considering the Construction Defect Action Reform Act of 2001 and its amendments, litigation over minor defects and code violations has led to higher liability insurance costs for builders and a noticeable decline in condominium development. This change is significantly impacting the state's housing crisis, and consumers are hurt the most because first-time buyers are priced out of the market and existing homeowners are inadvertently faced with the negative consequences of costly and time-sensitive construction liability lawsuits.
As a valued member of the Colorado Association of REALTORS®, we’re asking you to share your stories. If you have personally experienced a situation that you feel is a result of construction defects liability lawsuits, such as a couple wanting to downsize but can't because of a lack of available condos, a first-time buyer who cannot find entry-level housing due to lack of condos available, or any client who has experienced construction litigation liability with their HOA, or anything related to construction liability litigation and are willing to share those stories, please use the form link below. We are hoping to amplify the voices of our consumers who have been impacted by this situation. Feel free to share this opportunity with others in your network who may have been affected
Your feedback will help inform policy discussions and advocacy efforts to address housing market challenges, especially concerning condominiums and first-time homeownership. Your participation in this effort is vital in guiding us toward effective solutions for our housing market. Thank you for contributing your expertise to this important endeavor.
