Water is the New Gold in Northern Colorado
According to The Denver Post, Near Mead, Colorado, there is a local family farm that's doing a lot better than farms in the surrounding areas, gathering over one million dollars in profit. Water and ditch rights are a huge commodity in this area, and developers grabbed ties to Colorado-Big Thompson water (CB-T).
There was an auction held for land and water rights, and according to The Denver Post, land was of high interest based on its proximity to the water. At the auction, the 276 CB-T units brought in around $7.6 million, or $27,356 each. Wow! Overall, each share was sold to farmers or investors.
We, more than anyone, know how much water is worth, but the auction proves that water and land, maybe more than oil, are the most treasured commodities in Northern Colorado.