Posted on Jan 18, 2021

top-10-emerging-multifamily-markets-part-ii

1LT Ernest Chamblee

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Overall, Colorado has seen a substantial uptick in demographic trends, with all metros reporting increases over the past decade. While the population growth of Colorado Springs wasn’t the strongest in the state between the 2010 Census and July 2019, it far surpassed the national average 6.3 percent growth rate by a factor of more than two, at 15.5 percent. As a result, Colorado Springs’ occupancy rate rose significantly in pre-pandemic quarters, including a 30-basis-point increase year-over-year through September 2020, to 95.4 percent, 90 basis points above the national average rate.

top-10-emerging-multifamily-markets-part-ii

Posted from multihousingnews.com

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My brother just moved away from Denver and made a windfall on his property on the way out. Part of what is driving the market in Colorado is the same as in California. Environmental activists are against new housing developments at all costs. There is plenty of land in the Colorado Springs area for building homes. But doing so requires litigation and makes building expensive and time consuming. Upper-middle class residents join in opposing these new developments because it drives up their own home values. Once again, good intentions disproportionately hurt the poor and middle class.

https://www.brookings.edu/research/whos-to-blame-for-high-housing-costs-its-more-complicated-than-you-think/

Who’s to blame for high housing costs? It’s more complicated than you think.

The developer is only one piece of the financial food chain that provides capital for new housing development. Jenny Schuetz dives into the housing crisis issue.

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I live near Evergreen and there have been several recent development proposals by landowners to develop their empty lots. The wealthy residents nearby do everything they can to stop the development. All of the recent proposals have been for multifamily units, i.e., apartments, i.e. less than wealthy people. It's messed up how much influence they have over what happens on someone else's property.