A "dot-connector" in New York Times columnist Binyamin Appelbaum's analysis of how a move Wednesday to start nudging interest rates may upset Denver's buzzing economy is the experience of an area home builder.
Appelbaum, of course, addresses whys and wherefores of Denver's post-Recession juggernaut, including its emergence as a tech start-up hub, and a hive of small entrepreneurial successes.
He quotes our sibling-company Metrostudy's data on the multiplier-effect new-home construction business--"people need cars to get to construction jobs, and construction jobs to buy cars"--and he explores with Apex Homes owner Mitchell Goldman the nature of his anxieties about a Fed rate rise:
“I’ve been getting asked the question a lot, ‘Should we wait?’” he said.
Mr. Goldman said he expected that higher rates would also push some buyers out of the market. The math, after all, is inexorable. If mortgage rates increase by one percentage point, the monthly cost of a $300,000 mortgage increases by $177.