POWER OF ATTORNEY


         WHEREAS, M.D.C. Holdings, Inc. (the "Company") proposes to file with
the Securities and Exchange  Commission,  under the provisions of the Securities
Act of 1933, as amended,  a  Post-Effective  Amendment No. 2 to its Registration
Statement on Form S-3 (File No. 333-81223) (the "Post-Effective Amendment"); and

         WHEREAS, the undersigned is a director of the Company;

         NOW, THEREFORE, the undersigned constitutes and appoints Michael Touff,
Paris G. Reece III or Daniel S. Japha or any one of them as attorney for him and
in his name, place and stead, and in his capacity as a Director of the Company,
to execute and file such Post-Effective Amendment, and thereafter to execute and
file any amended registration statement or statements or supplements thereto,
hereby giving and granting to said attorney full power and authority to do and
perform all and every act and thing whatsoever requisite and necessary to be
done in and about the premises as fully, to all intents and purposes, as he
might or could do if personally present at the doing thereof, hereby ratifying
and confirming all that said attorney may or shall lawfully do, or cause to be
done, by virtue hereof.

         IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney
this 7th day of December, 2001.


                                           /s/ David Blackford
                                           -------------------
                                           David Blackford