Tag: Denver

Denver Housing – Unaffordable

Talk to anybody looking to buy a place to live in Denver and they’ll tell you about their struggles. Properties are too expensive for most mortals to afford, bidding wars have been raging, and even though there are slight signs the market is cooling down, prices are still higher than ever.

In fact, Denver just ranked as the fifth least affordable real estate market in the United States. That’s according to an April report from Ojo Labs, an Austin-based real estate company.

In March, the median selling price for a home in Denver was $564,990 (compare that $520,000 in the New York City area). That was 23.2% higher than the previous year, according to the report.

The least affordable city was San Francisco, where the median home price was $1.3 million.

Only four U.S. cities were less affordable than Denver in March
Other than San Francisco, San Diego, Los Angeles and Miami, pretty much everywhere else is cheaper to live.
Kyle Harris

Tigray Protest – Denver – April 2, 2022

Haven’t heard as much about this in the news. Here’s some info from the NYTIMES:

A year of conflict in Ethiopia, Africa’s second most populous country and a linchpin of regional security, has left thousands dead, forced more than two million people from their homes and pushed parts of the country into famine-like conditions.

Forces under Prime Minister Abiy Ahmed — the Ethiopian military, ethnic militias and troops from neighboring Eritrea — are fighting to oust the Tigray People’s Liberation Front, or T.P.L.F., from its stronghold in the northern region of Tigray.

The tide of the civil war has fluctuated wildly. The government teetered in early November when fighters from Tigray surged south toward the capital, Addis Ababa, forcing Mr. Abiy to declare a state of emergency. Foreigners fled the country and the government detained thousands of civilians from the Tigrayan ethnic group.

Why Is Ethiopia at War With Itself?
Sixteen months after Prime Minister Abiy Ahmed began a military campaign in the Tigray region, fighting has slowed but Ethiopians are bitterly divided and their country is wracked by suffering.
March 16, 2022

See also: https://en.wikipedia.org/wiki/Tigray_War

The Housing Crisis – Denver

Housing prices for renters and owners are sky high, while homes are in short supply. According to the latest Census, over 115,000 newcomers moved to Denver over the past decade and more are coming every day, putting even more stress on the housing market

Where should all these people live?

The need for new housing for people making less than the area median income — which is $94,320 for a three-person family and $73,360 for a single person — is extreme. In Denver, the median home price was around $545,000 in December, and median rent is currently $1,798, according to Apartment List’s February rent report.

Denver must build more than 50,000 affordable homes a year to meet demand. The city’s largest affordable housing developer can build around 300.
The city’s largest affordable housing developer can’t keep up with the need.
Kyle Harris
Denverite