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March 27, 2011

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john schneider

I think you're right about an increase in affluent 2nd home ownership leading to a drop in full time ownership. And I think the same principles came into play at the lower end - in condos - when all the foothills rental apartments (which were largely occupied by full time residents) were converted to condos and sold - or tried to sell - to snow birds for wildly inflated prices - because they put in a little granite and some cheap carpeting. The full time residents were displaced - hence no longer counted as fulltime residents - they couldn't afford to buy those crappy condos & there were no more rental apartments in the foothills, so they moved elsewhere.

bigdaddyj

If anything, I think it might be a telling reflection of the economic changes over the last decade, with more wealth being concentrated at the top of the pyramid, that in an affluent, winter-home friendly community such as the foothills that population would decline logically as a result of more wealthy families being able to snatch up prime homes in prime locations as secondary homes, which then go counted as vacant and contribute to a population drop in the census count...

bigdaddyj

I think the drop in population is properly largely attributed to the number of homes owned in the foothills that are actually second homes/winter homes for "snowbirds"...there was a related article in (I think) the WSJ today that pointed out a flaw in the way the census bureau counts homes as "vacant", in that they count all second homes as being vacant, which actually puts a bizarre skew on home vacancies in upscale areas that are popular as summer/winter/ski/beach second home destinations among the affluent, so I wouldn't see this slight population drop as a reason to panic in anyway...

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