February 2, 2023

Rocky Daily News

Colorado Politics-Sports-Business-Weather

Rich People Moving to Colorado by the Thousands

1 min read


There’s more bad news for Coloradans hoping to buy a home. A recent study showed that transplants have a built-in advantage over locals in bidding-war scenarios because they generally have more money to spend, and now a new report reveals that Colorado is among the top destinations in the country for wealthy out-of-staters looking to move.

The phenomenon was also noted in a recent Bloomberg story with a telling headline: “Denver Draws Rich Financiers With $12 Million Lofts, $175 Sushi Menus: Colorado’s capital has transformed from a city in decline into a magnet for the affluent.”

Where High-Earning Households Are Moving,” an August study from SmartAsset, a national financial firm, builds on the findings of a July analysis from the real estate website Redfin about places where the…

Michael Roberts

2022-08-22 07:31:00

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