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Denver rent is back to 2022 prices after 20k new units hit the market

denverite.com

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Re: Denver rent is back to 2022 prices after 20k new units hit the market

#131

Post by mateo411 »

JumpCrisscross wrote: post #54
aynyc wrote: post #33

Just because this doesn’t magically solve the housing crisis, doesn’t mean it’s not a good start. We have to stop looking at magical solutions that will solve all our problems in one shot. We have to start somewhere.

> because this doesn’t magically solve the housing crisis It does. Twenty thousand units represent about 5% of Denver's housing stock [1]. Commit to adding this many units to the housing stock every year for the next 10 years and you'll have solved the housing crisis. (You'll probably need to bail out recent homebuyers, who will be permanently underwater, but that's a separate issue.) [1] http://censusreporter.org/pr…

I think Denver home prices have decreased by 4% since the peak in 2022.

I don't think anybody is going to be permanently underwater. Home prices changing should be a second order effect of building more apartments.

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#133

Post by Ray20 »

MangoToupe wrote: post #57
next_xibalba wrote: post #29

Earlier quoted context omitted.

So you're telling me if an additional, say, 100k units came on the market in Denver in the next year, housing prices wouldn't fall dramatically such that all working people could afford housing? Working people should be able to afford housing near where they work. So let's press the gas pedal on building. The mentally ill and drug addicted should be subject to mandatory treatment or jail until such time as their unde…

> all working people could afford housing? Hey, if that's the metric you're pushing for, good for you. I'm pushing for housing as a human right. I never caught the calvinist bug of "torture the non-productive until they conform and perform" method of population management.

Don't you see the huge contradiction here?

Housing doesn't just spring up on our streets by Jesus' will, so by making people responsible for providing housing for other people, you're literally calling for "torture until they conform and perform".

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#134

Post by Marsymars »

tptacek wrote: post #66
MangoToupe wrote: post #13

It's a nice victory story for the YIMBYs hoping to win over the upper-/middle class trying to retain the narrative that the market will provide "affordable" housing (not what this even demonstrates, but anyway), but this isn't going to get people off the street. We need a public housing sector to appropriately meet everyone's needs. Otherwise this is just a game of justifying "who deserves housing", a discussion over…

Until you reach transient shelter beds, which may not be saturated in a region (in some places in Chicagoland the work is going into outreach to get people off the street and into shelter beds as much as it is in expanding the number of beds), every additional unit of housing you build frees up some unit at or below that unit on the stack of housing. The effect percolates all the way down to long-term supportive hous…

> every additional unit of housing you build frees up some unit at or below that unit on the stack of housing. The effect percolates all the way down to long-term supportive housing rooms.

This makes intuitive sense to me, but I've really struggled to explain it in a way that makes it click for people.

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#136

Post by tristor »

I live in Denver, I don't believe this article is true. I just got a renewal offer where they wanted to raise my rent by 30%. I have generally negotiated this down with my landlord (Greystar), but I also am well aware and they're more blatant about the fact that they use RealPage ever since the courts gave them a pass for blatant price-fixing and collusion. Greystar and two other major REITs own nearly 60% of all rentable residential properties in the Denver metro area, so pardon my skepticism, but I call BS on the thought that rent has or will ever go down in Denver.

Edit: The plural of anecdote /is/ data.

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#138

Post by msgodel »

JumpCrisscross wrote: post #128
ozgrakkurt wrote: post #121

Earlier quoted context omitted.

Yeah, pretty sure a government won’t bail me out if I invested in a stock so much that it would crush me if the stock went down. If buying a house is an investment and not for living, then it should be treated like it is.

> pretty sure a government won’t bail me out if I invested in a stock https://en.wikipedia.org/wiki/Greenspan_put More pointedly, you're not in a position to block equity capital markets reforms in the way homeowners are in respect of housing reform.

Yeah everyone involved in that should have been shot. That's part of what led to the situation we have today.

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#140

Post by s17n »

seanmcdirmid wrote: post #73
JumpCrisscross wrote: post #54

Earlier quoted context omitted.

> because this doesn’t magically solve the housing crisis It does. Twenty thousand units represent about 5% of Denver's housing stock [1]. Commit to adding this many units to the housing stock every year for the next 10 years and you'll have solved the housing crisis. (You'll probably need to bail out recent homebuyers, who will be permanently underwater, but that's a separate issue.) [1] http://censusreporter.org/pr…

> It does. Twenty thousand units represent about 5% of Denver's housing stock [1]. Commit to adding this many units to the housing stock every year for the next 10 years and you'll have solved the housing crisis. (You'll probably need to bail out recent homebuyers, who will be permanently underwater, but that's a separate issue.) That is only if you believe that more capacity does not induce more demand, which really…

Are there people who have been avoiding Denver because the rent is too high? I think of Denver as somewhere you go if you're sick of the cost of living on the coast.
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