Construction-defects reform comes down to 2 main arguments
With the debate over construction-defects reform set to launch quickly in the Colorado Legislature, numerous interests are coming forward and presenting very different stories about why such a bill needs to pass or be defeated.
Backers of change say the existing law has caused condominium construction to grind almost to a halt because of fears of lawsuits; opponents of change dispute that,
Metro-area mayors and economic developers are the biggest proponents of the idea. They say that without change in the current law, they won’t be able to diversify their housing stock, especially along the developing rail transit lines where condos would offer downsizing Baby Boomers and property-seeking middle-class millennials a chance for something more than large homes or apartment rentals. Without it, they say, housing will be out of reach for a number of rising earners and will make the area less attractive to younger workers.
On the other xidc, the loudest “no” voice is coming from condo owners who have sued builders and argue that their right to file lawsuits with the same ease as other consumers claiming defective products is the only thing that protected them from personal financial problems. And while most of their cases are finished and would be unaffected by any change in the law, they say they need to stand up for a future generation of property owners who could get hurt.