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Denver Denver is going to become San Francisco and the Bay Area as it existed in about 2009 - filled with startups and a burgeoning tech scene amongst a tremendous gain in population. From July 2015 to July 2016 we added 100,000 new people via migration in the united states and immigration, this trend will only expand in the next ten years. I predict the population of Colorado as a whole will increase by 1.25 million people. This will make our housing crisis even worse, though I doubt we would ever approach San Francisco levels of house pricing, housing costs will still be growing and growing in 2026. Areas of the city that are currently being gentrified (RiNo, everything in the highlands outside of LoHi, Five Points, Lincoln Park) will have been completely gentrified by 2026, and neighborhoods that are still now considered to be "bad" will start being gentrified as well (Montbello, Globeville, anything south of Federal and Alameda and anything east of Colorado)
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Sep 3, 2016 22:24
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Femtosecond posted:Is Denver already building lots of new condos and apartment buildings? A big part of SF's problem is that they simply never built any new supply on the scale necessary and they continue to not really build anywhere near enough. Last time I was in SF two years ago I only saw one new condo showroom and I found this just shocking considering the scale of employment gains the city had been having. The answer is complicated - yes, there are new condos and apartment buildings being built, there are a large number of developments that have gone up in Denver in the past six months and we only have more on the way. The issue however, is that they are marketed as "Luxury Apartments" and geared towards people looking to buy luxury apartments. There isn't enough affordable housing being built at a fast enough pace in Denver to offset the rise in housing prices caused by these developments being built. Thankfully; unlike SF, Denver and the Metro area has no shortage of land space to build upon, so that constraining factor isn't an issue here. Let me contrast this with Boulder. Boulder is famous for having an ordinance within the city charter that limits the amount of new building within the city to be 1% of population growth in that year, meaning almost no new housing ever gets constructed in Boulder. Not only that, but Boulder also has another ordinance that prevents the cities borders from ever expanding, in order to prevent the open space areas around Boulder from being developed. That second one isn't so unreasonable, Boulder is a very pretty city, but the first ordinance means that Housing prices in Boulder only skyrocket and will continue to only skyrocket. Google is coming to Boulder and bringing about 1000 new tech jobs to the city, and there simply isn't enough housing to house Google workers. Not only that, but Boulder is also a college town, so that means that a good portion of the housing in Boulder goes to students; who need to have easy access to the University and environs. In short, its a perfect storm for ever increasing housing prices within Boulder. I lived up there a couple years ago, and I payed $550 a month for a room in a house that was about a mile from campus. If I were to live in that same house now, I would be paying $800 a month. You could have bought a 3 Bedroom/2 Bath family home for $700,000 at one point (which is already absurd!) at that same point, now it would set you back about $850,000 to $900,000 Corny fucked around with this message at 00:02 on Sep 4, 2016 |
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Sep 4, 2016 00:00
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