Denver's skyrocketing rental market is pricing people out of homes
HTML-код
- Опубликовано: 15 май 2022
- When it comes to finding a place to live in Colorado, renting has become just as competitive and expensive as buying.
According to Rent.com, rent in Denver is up an average of 15% over last year. With rental rates jumping higher than the rate of inflation, renters are being stretched thin and priced out.
More local videos here: bit.ly/2Pa0d1l
Subscribe to NEXT: bit.ly/2eP1GwI
Stay connected:
9NEWS Website: www.9news.com/
Facebook: / ilike9news
Twitter: / 9news
Instagram: / 9newsdenver
Download the 9NEWS App: www.9news.com/appredirect/
Sign up for the 9NEWSLETTER: www.9news.com/email
9NEWS (KUSA) is located in Denver, Colorado.
![Jason Aldean - Should've Been A Cowboy [Toby Keith Tribute] (Live from the 59th ACM Awards)](http://i.ytimg.com/vi/-B4nR-CgMVA/mqdefault.jpg)
Isn’t it crazy how mortgage rates continue to rise with higher imports and declining exports? meanwhile the FED is yet to lessen cost. Something will eventually break if they keep raising interest rates and quantitative tightening
indeed the mkt & economy has gone berserk, price of great assets like real estate, dividend paying stocks, or gold never comes down easily, in my humble opinion, buy what you can afford today, and working with a financial advisor certainly helps
Right, since 2020 amid rona-outbreak, I've avoided the drawbacks of trial and error simply by FA assistance. I'm semi-red now, and only work 7.5 hours weekly, with over $600k pulled off after subsequent investments to date.
@@LionTowercoporation huge gains! most finance youtubers said the housing market would be fine few months back, but its been a major downturn... mind if I look up the advisor guiding you please? in dire need of portfolio allocation
have my portfolio overseen by a US-based wealth advisor ''Colleen Janie Towe'' she's well established, and shows quite a great deal of expertise, you'd most likely find her basic info on the internet.
@@LionTowercoporation Thanks for your assistance. My finances have been in disarray, and I have experienced multiple losses in my 401k, IRA, and mutual funds. I hope that Janie can provide me with the guidance needed to rectify the situation before it reaches a critical point
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
Over the past three years, I have been working with an investment coach who has provided daily guidance on my investment decisions. With their expert analysis, I have realized gains of over 850k. Their insights have helped me avoid losses and capitalize on market breakthroughs, particularly during downtrends.
I’m intrigued by your experience. Could you possibly recommend a trustworthy advisor you've consulted with?
renowned for her proficiency and expertise in the financial market, ''Margaret Johnson Arndt’’ my financial advisor, holds a broad understanding of portfolio diversification and is recognized as an authority in this domain.
This was our story as well. We were good tenants. Never late on rent, kept everything clean, weren’t noisy. We got our lease renewal and our rent went from 1700 a month to 2300 a month (not including utilities). Not being able to afford the increase we were forced to move south and I had to make a 30 min drive one way to bring my daughter to school so she wouldn’t have to miss her last month. We used the little bit of savings we were able to scrap up after Covid to move. Also causing my credit to take a major fall. It’s had a domino effect on our lives. I pray we all find some relief soon
Hey are you single?
Ouch!
@@Spider7xx simp
I'm sorry
Landlords charge as much as they can, and employers pay as little as they can. What do you expect? Most times it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word. I have understood a lot in the past few years that there are lots of opportunities in the financial market. The only thing is to know where to invest…
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.
I keep wondering how people earn money in financial markets, i tried trading bitcoin on my own made a huge loss and now I'm scared of investing more
@@izagdlife That won't bother you if you trade with a professional like *Sarah Alma Martinez* my consultant. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. I basically follow her trade pattern and haven’t regretted doing so..
@@BeverlyTalley You allow people to trade for you? that's interesting, I would love to learn, hope it’s safe..?
@@debbie765 This is the Fourth time I'm seeing someone talking about Sarah Alma as there are lot of testimonies about her, do you know her ? if yes , did you invest with her.?
In 2005, I rented a 1 bedroom with loft apartment in the Denver area for $625/mo. Today, the same unit rents for $2500/mo. Wages have not gone up.
inequality
@Truth Teller the employer for not keeping up with inflation and the government for allowing it
@@willrose5424 huh?
Are a Marxist? Welcome to you!
@@willrose5424 thank you for shutting the clown up
my goodness!! that's a 4 times increase in less than 20 years. doesn't make any sense.
A big part of the issue is that housing has become a target for private equity. Corporate ownership means that private citizens are forced out.
Some neighborhoods in Denver have 1 in 4 home sales bought by institutional money. Should be illegal.
Free enterprise should be illegal?
@@msmisonlyrealnews3670 no, just regulated. The financialization of literally everything is not of long-term benefit. Short-term gains for the few at the expense of long-term damage to many. Example: takeover of Cabela's by private equity. They made their money, now Sydney, NE is essentially dead. Why'd they do it? Because they could.
@@jacobk2915 Right!! There is a Canadian company that buys homes specifically in 5 sunbelt states. How can a family compete?
@@msmisonlyrealnews3670 in this case, yes. We already live in a mixed economy. Why not regulate hedge funds who are chasing yields at the expense of families looking to build equity? There are plenty of other investment vehicles, we're talking about shelter (everyone needs it).
Free enterprise is meant to foster competition. Nobody in this comment section is able to compete with $10 trillion in AUM.
I love how the news lady said "just $1600 bucks a month" as if that was reasonable where they were living before.
You're mad because to some people (like me) $1,600 is not a lot??
I have two minds about this:
First, as a private owner of several apartment complexes and homes in the Denver metro area, the issue is simple supply and demand. A lot of people live here with good paying jobs, even if they don't necessarily have enough saved to buy a house of their own. $100k/year doesn't mean much anymore, and if you can't compete well then you're going to have to commute. I never raise rents on any of my tenants except for modest increases to cover increasing taxes and insurance, but never to "keep up with the market." Good tenants are worth more to me than making a couple extra bucks, but I get why people do it.
On the other hand, institutional consolidation of real estate is dangerous. We, as a society, are better off in A LOT of ways if more people own the places they live, and have a vested interest in their neighborhoods/communities. I'm a small government guy, but seeing banks and corporate builders take over is terrifying. Something's got to be done.
I think that renters having the image that they're not invested in their communities comes from those people being younger and not having the means or time to show up to community events and public meetings. Kinda hard for me to make the city council meetings when I go to work 8-4, then have classes until 9pm.
@@liokin229 Owning a property in a neighborhood gives you a different perspective. If you rent, you can leave any time. Real estate ownership is a lot less liquid. It has less to do with going to meetings and more to do with having in interest in where the community is headed over the mid- to long-term.
Well, you can’t do it without government regulation. And lots of idiots don’t want big governments. So, don’t pick and choose when you want government to have a hand in things. It is their/companies right to buy and price as they want and that is very unfortunate. Me, I am all for government helping. But, I hate people who scream little government interference, but then wants the government to interfere when it suits them. Desantis the Antichrist is one of those types.
When people are spending a majority of their income on housing they can't exactly help feed into the economy. These high housing costs only end up hurting all of us in the end.
Well said, finally someone who can see the future economic impact. Best wishes from upstate NY!!
The larger Economy will be find. It’s the small economy that will be hurt. Because this is the new normal. Prices for things are not going back down. My first apartment was $800 for a two bedroom. My moms first apartment was $300 for a two bedroom. I don’t know what my grandparents paid but I bet you it was much cheaper.
People are so greedy and they don’t understand basic economics. I knew this was going to happen as soon as the country was locked down. And I wonder who this landlord is who thinks people are just standing in line to pay $2500 a month. They’re playing a dangerous game. They’re going to lose the guaranteed rent to an illusion of someone might pay $900 more.
Wages need to come up or the economy will crash.
@@Yandel21ableify higher wages won’t fix anything
I get jumping the rent by 100 a year, but 900 is ridiculous. I rent out a two bedroom, and I didnt jump the rent because I’m not a POS and I like my tenants.
Good for you fr
You are one of the good one's 👍
Not only are you a decent person for that, but you are SMART as well. You *_know_* that a *_good_* tenant is WORTH THEIR WEIGHT IN GOLD!! I’ve been a landlord too, in the past!
And just because this situation exists right now, doesn’t mean it will continue forever!! When things TURN AROUND for the worse, you will be really glad you did not try to SCREW your tenants over, like the others are doing!!!
😃 awesome
You are leaving money on the table then. If you could increase rent by 900 and you only do 100. You essentially give your renter 800/mo. Who else do you give 800/mo.
I'm from nj and NYC. My rent was $1350 a month and my landlord wanted to raise it $100. She never did any repairs and I was never late on my rent. I lived there for 5 years and was never late paying it. Except for one time and she had me evicted for being 5 days late. I left with the clothes on my back and moved to Pueblo Colorado. My rent is $625 a month and thank my lucky stars that I found it. And I'm 68 and disabled and on SSI. At least I'm not homeless. Thank God. May God bless the people and watch over them who don't have a place to live. This is a very hard time for us all
The same thing has happened to me in the Twin Cites of Minnesota. I was paying 1,295 for my two bedroom townhome and now paying 1,906.00 per month. The increase happened since 2019 and rents here for most townhomes and houses for rent are 2,000-4,000 per month. In order to make ends meet you need to make over 100,000 per year these days to have anything nice and still have a few bucks in your pocket.
Trust me I feel your pain. Imagine how the people feel who lived there whole life here. We live in northern Colorado and we're feeling the hurt. You use to be able to be a blue collar family and be able to go to the park and have a picnic with your family for an affordable rate and still pay your rent. Now not so much. Quality of life has really fallen
You let the Californians and New Yorkers take over your state.
Get what you vote for
@@18michael18schulz18 unless of course you were like me and voted against said things to which your referring.
@@JesusChrist2000BC trust me once it happens there's no stopping it. There coming for you 2. They move into a place. Take over, change its laws ruin it and move on. All the while somehow so self unaware of the very reason why they moved somewhere that's different from where they came. It starts small and slow.
Little things, how people drive in traffic, laws on plastic bags, homelessness, all under some guise of a more enlightened romanticized libertarian scheme. Before you know it. Your priced out, gas is super expensive, can't get plastic bags, your favorite lake or secret mountain view is over run by top not douchebags and women with bad face lifts that remind of the joker driving a 200,000 dollar cars with lap dog mini poodles and selfie sticks blocking your view of the Rockies. Your quite little town isn't so quiet, you no longer no your nieghbors, there's rich kids doing doughnuts in the old local shut down drive in getting renovated by illegal immigrant scab crews building with sub par Chinese materials. Before you know it your thinking of ways to buy tannerite without the fbi tracing you and "Rocky mountain high" comes on while your stuck in traffic because the in and out burger's line had a fist fight and all the kids take there black mirrors out to stop and gock lacking any morale sense or code of chivalry....
You can't stand that fucking john Denver song anymore, it's becoming a mocking epitaph of all you've loved and worked for, searing, burning likes cigarettes in your eyes, you cut off the radio and think how covid didn't take enough lives and you'd wish they'd stop building Starbucks, "another fucking starbucks" you think. Oh they're coming, one Tesla at a time, one weird self unaware prick at a time.., all with Ego's the size of Texas, no these creatures can't be reasoned with or lead to learn a new way, they devour and move devour and move. Like a cancer an infection. A disease. But I digress
Y'all have a good night
@@18michael18schulz18 unless you were out voted by the transplants.
It is disgusting to see corporations do this to the whole country!
They have destroyed the housing market!
You guys need to stop forgetting about this outrageous rent increase and keep lobbying the law makers to institute a law to at least keep rent increase yo the maximum of 10%.
Private individual landlords do the same thing
Thank you Black Rock and all those Private Equity firms buying everything up.
Rent increases hurts other business too. People can’t afford to dine in restaurants, they can’t shop as much, or go to the movies. That’s when those businesses will have to close down and raise their prices. Working just to pay rent is no way to enjoy life. We need a revolution/revolt.
I'm an emergency dispatcher. I work at least 55 hours a week, and normally around 60. I get a VA Loan because I'm a veteran. It's impossible for me to find an affordable home. I just keep waiting for the bubble to burst or for wages to increase, but I'm starting to think it's never going to happen. You'd figure the city would want a family like mine to live here. We are looking to move out of the state. No one is helping the families they claim to support in Denver.
Don't move to Washington state. It is horrible here. Even in the most rural of areas they think they deserve NYC rent prices.
Come to North Platte, NE. It's a wholesome family town. I'm sure you could do dispatches here, and it's probably an easier job (less crime.)
People rushed to live there and now I think a lot of them are gonna head back to the Midwest or east coast.
the small mountain towns are having a hard time finding employees to work in the shops and restaurants because none of the workers can afford to live in the town , they have to commute and with high gas prices some are saying it's not worth it for the pay
live in a van. save $$
I’m blessed to live in Portland, Maine we forced through a rent control ordinance after out of state developers spent 6.1 million on ads trying to stop it. My rent is $1,100 for a one bedroom including heat. Our landlord can only raise the rent 8% a year and has to justify the increase to a rent control board. Even paying $1,100 by myself is killing me. I don’t know how families with kids are managing to survive. There will be Hobo Cities in every town by 2024 just like when Hoover was President. Already dealing with tent encampments in our local park where there have been multiple stabbings and overdoses. People who are not mentally tough are not making it anymore.
The rent control causes more homeless because it disincentivizes new construction. The institutional money was right. The answer isn't rent control. It's building more housing.
Hey I’m in Portland Maine and from Denver. What a charming city with great access to some beautiful outdoors (including surf)! I’d consider Maine as a place to live. The cost of apartments for sale though is egregious.
It’s really sad because people are being priced out and forced to move farther out BUT then, gas prices are getting them as well SMH! This is such sad times we are living in!!!!
You voted for this shit. Its part of Bidens plan all in the name of "equity"...now deal with it.
Don't vote for libtards then
Ya man. I'm 31 and my life has just been set back after set back with this shit. At this point I've made peace with the fact I might just never catch up.
@@TheWanDoctor
Don’t ever give up!!! ♥️
@@TheWanDoctor I'm 33. I know what you mean. But don't give up, Timothy! Keep your head up and keep your vision ahead of you!
I was a landlord for 10 years. The highest rent increase incurred on my Manhattan property on a yearly lease was 10%. Raising a rent by 56% is just usorious, represents pure greed is seems criminal.
thank you!
Insurance rates doubled, so did everything else to maintain those homes did also
Si you would turn money down if you could get it? Honestly????
You are ignorant of economics. Try understanding inflation. The lowest rates of inflation are in traditional high cost areas where people are leaving. Its increasing where demand is growing.
Could have sworn there was an amendment to the constitution that mentions buying and owning property 🤔
Imagine making enough money to afford $3080 for rent and all you can get is a studio for that amount lol.
Expat who left the US ..couldn't be happier
Now I live in Romania 🇷🇴 Rent $400 nice old building. Food excellent people friendly budget $1400 a month and most important SAFE
As a Colorado Native, rent is insane! The fact that I’m considering moving somewhere else is sad.
I’m a Colorado native or I guess was. I moved last year to California of all places lol 😆 that tells you something
I too am a native.... I moved out of state just this past January. The Colorado I grew up in is now the Cali-rado I despise!
@@tylerj7298 wow reverse uno card!!! Was rent or real estate less there?
@@teerich2011 yes by so much. Then Californians we’re moving here and jacked up our prices. You used to be able to get a 1 bedroom for $1,200. Now you can’t even find a studio for that
It’s interesting that couple of years of competitive market and the landlords and property managers are acting smug!! I live in the SF Bay Area and own a couple of rentals in the Silicon Valley. For the last 2 decades whenever there was a vacancy, I used to get 150 applications in 48 hours! Except for those couple of years of Great Recession. Pre pandemic I used to get 3200 for my rental condo near the Apple campus (well there is also NVIDIA, Intel, EBay, Agilent, Cisco, Broadcom and few dozen smaller tech companies). Post pandemic many people left the Bay Area and went to Austin, Atlanta, Denver and many other cities across the nation because of remote work. I recently rented my condo for $2600 to an Intel employee who had moved back from Austin to Bay Area because his rent was pretty much the same! I am actually liking the Bay Area again… I hope the trend continues and more people move out. My sons might just have an opportunity to live in the place they were born and raised!!🤞
No inventory?
THAT'S A LIE!!!
There are new apartment complexes going up in every neighborhood in Denver.
This is just greed mostly by corporations that are snapping up properties left and right.
There is new inventory coming but not enough to match demand. Equations have two sides.
Yup Complete Liars there is plenty of inventory none of these Cockroaches will rent out except for ridiculous overpriced reasons.
@@Belmaktor I know right.
@@Belmaktor I can find more than 10 vacant apartments tomorrow.
If the demand was so high I wouldn't be able to find any apartments.
People are moving out of Denver faster than they are moving in.
9 news already did a story on how "investors" are buying up houses just to tear them down and turn the properties into "developments"
It's just greed!
And there needs to be even more Condo complexes.
This is exactly why I want to buy houses cash when I’m older to rent out, so I can set an affordable price for tenants and not need the higher income to pay off a loan on the property.
I couldn’t imagine depending on a tenant to be able to pay for my property.
Don't do it... You might face evictions, unfriendly government law, squatters, and tenants trashing the place. Just own your own house or plan on being a landlord full time.
Completely disgusting. Rent and prices go up but PAY DOESN'T.
Who are they appealing too?
I cannot shout out my landlord by name but I thank this man everyday. He allows me to rent a two bedroom duplex in Englewood Colorado for $1,300.
I have a front yard. I have a backyard with a gate. Two parking spaces of my own. Just WOW 🥰
I may not have air conditioning or a dishwasher, but my home is beautiful. I know that my landlord keeps his rent where it is because he has a beautiful heart. I wish other landowners had a similar heart 💙🤍🙏🏽
Watching this lets me know how blessed I am to have found this man. When I moved in here I was homeless for two and a half years after my family stole my inheritance from my mother.
I found myself on 16th and California with a suitcase and nowhere to go. No resources to speak of. The year was 2019.
Long story short, I kept working. Even through the pandemic. And I found this wonderful man who has rented me my duplex for the last year and 7 months.🥰
If the government . ....I'm talking Federal, does not set guidelines for affordable housing our homeless population will only get worse.
That's what they want. Now they are doing it so fast that you are noticing . These people are sick
that’s not extracting good value from an asset - your gain his loss - despicable
Still high. I looked at $1000 2 bedroom in Colorado Springs and that's still high
@@teerich2011 I don't think so. I'm in Englewood
@@PinkyakaAyannaj same here my landlord is the same. He's a friggin hero in these trying times. I'm paying a little under what you are for a 2 bed. We got 3 kids and this is the only way we can live. I've lived in Denver my whole life and this is beyond ridiculous what's happening. I can't wait to see the negative impacts effect the city's reputation.. it needs to be destroyed because this is killing innocent people
The American dream... now available to the highest bidder.
Capitalism at its best.
@@kendallrhodes You got a better solution?
💯
And some of these people are not even American.
Tax the rich, regulation on predatory behavior, living wage requirements on businesses
This is why I traded in my beloved car for a van. Try to threaten me with rent hikes, and I'll move into my van. Not everyone can do this, I know. But this is why I've made choices for years to prevent this system from backing me into a corner. No kids. No pets. No earthly attachments. I've got nothing they can take. TRY ME.
Everything that so called "real estate agent" told that couple is completely illegal. Furthermore, just because there's limited supply does not mean you (the owners) have the right or even, need to "price gouge." These landlords are scumbags.
If my costs for somewhere has gone up 50% to maintain the place your living in I for sure have the right to raise the rent, it's not price gouging it's market demand,
@@Deusstyles what about it skyrockets by 50 percent? This is greedy and shady. The fact that mega companies can outbid families by hundreds of thousands of dollars is causing this mess. Wait until you have nothing but homeless families who can't afford your "luxury" apartments and then you won't have anyone to suck money from causing you to wind up on the streets too.
@@thelostcosmonaut5555 Yeah I know good thing we have democrats in office to fuck us over even more on taxes. There should be a law that no one can make laws unless they also know how to farm.
@@Deusstyles Sad but true. People keep denouncing the unfairness of it all, but if there's that much demand, that is what will drive the market, period.
Hey 9news how about you interview the CEOs of these companies that are raising the rent.....
LOLOLOL legacy media actually going for a story and breaking news. NAWWWWWW
What’s the point? The CEO’s will say they are pricing rents at market and tenants are willing to pay them.
@@MatthewBaltzell then interview the ones setting the market value.. .they are robbing people of their future
@@phat.daddy.dollar8234 There isn't one entity that is setting the market. It's more trail and error than anything. The US government is the one robbing Americans their future by continuously printing money. They claim it's helping the poor and middle class but it's doing the exact opposite. 40% of Americans have no investable assets and are living paycheck to paycheck. When the stimulus is given the poor and middle class use it to pay for rent, food, etc. However, the stimulus that was printed has caused asset prices to increase (rich get richer) and for the poor to get poorer. It's a vicious cycle. The US needs to stop printing money and allow for the markets to correct themselves. This will cause a lot of pain short term but would be better in the long run.
@@MatthewBaltzell nicely said....thanks for sharing
Denver was so great, 2019 and earlier. Now, it's overpriced, getting more dangerous, and not worth living in anymore. Breaks my heart
Imagine how it is for a Denver native like me. I can’t do anything I thought I’d do as an adult bc it’s too expensive but my whole family is here my whole support system and I can’t leave.
2019? Go back 15 years to see when it was really actually reasonable.
@@MimiBlackbird If your family's support is conditional on you staying in Denver.... they are far from supportive. It's called financial manipulation. Giving you just enough help to get by, but not enough to invest in your future or to move somewhere with better education and job opportunities. Take the areas surrounding las vegas for instance. Housing in Henderson is far cheaper, so is education. And you can make way more money in the service and related industries there than you can in Denver. Same is true with Naples Florida. There are a lot of places with cheaper housing than Denver and with better money making opportunities if you're willing to hustle. I don't know anything about your family, but if their support is conditional on you living nearby; that isn't very supportive. It's selfish. A lot of parents don't realize they will one day need care. And if they don't help set their children up for success and a solid future... Then when they are aging and need care their children won't be able to provide much as they will still be struggling just to make ends meet.
That'd what we said in 1970, 1980,1990,2000,etc etc etc
😞
The Boston and surrounding areas have experienced the same thing. My parents rent went from $1350 to $1700, and the owner is threatening to sell. In their area, whoever buys will surely force the rent to $2500+
that property manager you interviewed was surprisingly honest about the situation at end. the rich get richer and the poor get poorer
But in the case of real estate when the poor become poorer odds are they will remain that way.
The problem seems to be more about inflation. Inflation means increased interest rates. Hence, landlords have no option but to put up the rent.
Capitalism is so great that you need 2 - 3 room mates to afford a roof over your head, anyone still defending capitalism, tell me, how is this better than communism where u can afford a house, or rent ?! who is capitalism rly benefitting in the end ?!
So sad for people that need to find a place to rent. Young people just cant get ahead. No wonder there are so many homeless people out there.
The rent increase really has nothing to do with homeless. The homeless is the result of mental health, drug abuse and joblessness.
Are you an idiot? You think there is no correlation between housing costs and being homeless. Lmfao. It isn’t the only factor but you cannot deny it is a factor….
@@singlefather01 false. Rent has alot to do with homelessness! 1.4 million renter households reported being “very likely” to be evicted within the next two months. This has remained relatively unchanged since 2021 despite the relief programs available. Inflation can also increase homelessness by putting upward pressure on rents as landlords face higher maintenance and carrying costs for their properties. There are statistics of this out there!
@@singlefather01 it has a lot to do with homeless. There's people who can't afford rent and now have to live in their cars or hotels🤦🏾♀️
@@stefnotfound you have not a CLUE of what you're talking about!!!😒
Sadly the people don't do enough to change things for the better in this country. We like to point out problems and complain, but never take to the streets to protest or never try to remove the corrupt politicians controlling/ruining our lives. There's more of us than them. We can change things if we really want to, but we dont. We are partially responsible for the outcome for not doing enough to prevent it. Look at what's going on in Sri Lanka.
There's also a s*** ton of apartments in the city and I don't remember competing with anybody for an apartment. A lot of it is pure greed and price gouging
I'm so tired of you NOT telling the most important part of this story!
Companies like Inspiration Homes who bought >85,000 houses and Progressive Residential with >45,000 killed the housing market for 1st time home buyers. They aren't the only ones. This flooded the rental market.
Just a few companies own the lion share of apartments in this city, some like Red Peak bought all of the smaller old family owned buildings in Capital hill etc. They each have near monopolies in there respective neighborhoods.
They are literally playing monopoly with our cities and our economy is suffering because of it. The only solution is to put limits on ownership within a single zip code or some other geographic boundary. If that means breaking companies up like they did with the Telephone companies so long ago then so be it.
Yeah and no one is doing much about it on a higher level it seems. Left to their own devices, much humankind will only think about themselves and screw everyone else--"because they can."
Yeah, I was born and raised here. I've been watching the state of CO. Especially Denver, decline. Big real estate, and banks buying every available home, and property. Ripping down all brick livable homes, and replacing them with million dollar cracker boxes. Luxury apartments that most people can't even afford as well. Also, old dirty beat up apartment buildings wanting to get in on the price gouging, so they want more money too!
We have to stop focusing on blue & red in politics. We have to look at the individuals record that's running for office. What has he or she done for society? Do they care about the world, and the people, and living creatures in it? Do they just care about their own money, property, and rich people like themselves. Let's pay attention people!!
And limit buying in HOAs too.
@@susanb326 WERE ARE THE POOR DENVER GHETTO PEOPLE MOVING?
In Austin prices are going up so fast that builders are finding incidental reasons to back out of contracts on new homes so they can sell to a different buyer at a higher price.
The irony of leaving England only to be ruled by lords still.
Good one.
But rent is expensive in all of the western world tho!? Lmao
@@S3aCa1mRa1n but you missed the point
I got it LandLords good point
@@Gigilovehugs Landlords are the rulers of the roost.
Yup. I'm a Colorado native (30 years) and I've lived in apartments in Colorado Spring, Durango, Fort Collins, Denver, Aurora, and Lone Tree. Never have I seen it this bad. 2 bed 1 bath for $800/month in 2015 in Durango. And now about $2000 in the span of 7 years. Last year I had to move out of my previous place in Aurora because my $1302 rent was going up to $1750. That was a 1 bed 1 bath 800 square feet, in Aurora. It's ridiculous. I'm moving to Portland because it's actually cheaper there than it is here...Thanks for pushing me out of my home state rental market...
Here in Phoenix the rent now is insane, the appartment where I lived it went from $740 to $1400 a month, the USA is becoming a nightmare for working class
I lived in Denver from 1996 until March 2022. Rental rates have been steadily increasing for the past 6 1/2 years. Working people used to be able to make a life for themselves in Downtown Denver but, there is just no feasible way to do that anymore sadly. State and local government refuses to address the rising crime rate in the city and the police want to act as if they cannot do anything. It is a shame because, Denver used to be great however, now the rich have more and working people can afford less.
Did you move because of increased housing costs?
@@teerich2011 Yes. Housing costs and also the crime rate.
Same exact scenario in Charlotte
Same in the Tampa bay area..😞
Guys the midwest is still cheap
I love how they keep saying that if someone is willing to pay the $2,600 than nothing will correct itself. Give me a break if the going rate is $2,600, what can you do about that. It’s either sign a lease that you know you can’t afford or live in your car. I hate this free market bs. It’s the free market when it comes to greed, but when workers demand more wages , suddenly you have everyone and their mom saying that the employers can’t handle these kinds of increases and something must be done to stop these high wage demands.
@@frenchonion4595 but the thing is wages for the working class have not increased in tandem with inflation significantly since the 80s. This idea that the increase of wages would cause the market to skyrocket is nothing short of neoliberal propaganda.
@@geocam2 Gimme your money, comrade. I need it.
@@ch0wned shut up dum*ass. He's talking in your favor. You don't know what it's like for poor people. You should thank God every day that stupid sheltered and privileged people like you don't have to face what poor people go through
They are saying that those who do make enough to afford that (or more) and are willing to, what incentive is there for landlords to stop asking for that amount? If those who could afford would maybe purchase instead of renting, then landlords would not be charging this much for rentals. Sure, everyone has their reasons for wanting to rent over purchase, but if you are able to spend $2600/$3000 or more a month, why saturate they rental market and take away the only housing options for those for whom purchase is not an option?
@@geocam2 You are correct. Capitalism is exploitation. The system want cheap labor for expensive product.
We had a similar situation here in Cedar Rapids in 2008. We had a 500 year flood that destroyed or heavily damaged some 4000 houses. Rental rates jumped because so many people had to fine somewhere to live. In a town of 125,000 people that is a lot of households to find living quarters for. FEMA had to bring in trailers to ease the problem. New construction has eased the problem, but I notice the rents haven't gone back down.
I remember when I could rent a 3 bedroom home for $500. No credit check. Just signed a document. The hardest part of prices these days is where I am I’m forced to rent a 4 bedroom because of my family size and the law of only 2 people per room. I have yet to see a 4 bedroom apartment and renting a house is even more expensive than apartments. I wish I could just buy my own home. But even that is bared from us.
I agree with him, The richer get richer and the poor get poorer, Middle class don't exist no more.
3rd world America
There are a lot of historical societies over the past 500 years where there's basically a 1-2% "rich", about 10% middle class, and 85-90% various levels of poor/ struggling. And that 85-90% definitely considers the middle class to be rich.
I say that only to say: there's no theoretical reason that can't be the USA, too. The post-1945 mass middle class is not a law of nature.
This happened during the stock market crash before WW1 or 2 I am not sure what one. Last time they did a quick fix. we can't keep going down this path it's insanity if they are doing the same as back then and thinking it would be different.
The problem is that the rich in this country doesn’t know when to say enough.
America has become a country of Haves and Haves not.
As someone renting in Denver, shit’s rough
Take a laxative
@@aJones-hv5ny agreed
Agreed
I know someone that moved to Austin Texas last year, to get the apartment she wanted she had to pay a years rent in advance.
1:04 it’s amazing that there isn’t enough residential property! I just moved here and the first thing I noticed was how many houses and apartments there were. She also is true about the young crowd being out here. Walk around 16th street or Larimer square you’ll see 21-31.even my job has mostly younger folks.
I just wonder where people get all this money from to buy gas, groceries, bay bills and pay 2500-3000$ rent....
Thank you for covering this story.... I don't know how people are keeping up with these housing price increases
I had a privately owned "motel-style" apartment moved in 2005 for $500/month. The owner finally sold to property management company and my rent went from $500 to $1200 plus $150 for my previously free parking space. I was going to move, but everywhere else was more.
I don't think that people realize this. Everyone wants to blame the landlord but the issue is there's always people willing to rent at those prices. Also if your landlord kept your rent at $500/month for years they were doing you a huge solid. Even $1200/month is a deal.
I love how the responsibility is put back on the people struggling, why should people need 8 roommates or why should it take 3 families pooling their resources to get 1 house? How about raise the minimum wage to something ACTUALLY livable?! How about stop allowing corporations to hoard all the real-estate and artificially inflate the prices?!
How about the native Coloradans who are being shoved out their state by greedy landlords and obnoxious transplants? I hate what has been done to my home state.
I agree and the worst part is we are allowing it as we have yet to start a petition to change laws maybe with an income limit for rent in search and areas and qualifications for those rentals. We're not talking to our congressman or our mayor as a community. We're not peacefully protesting our rights. How can we keep letting it go down this path?
@@ayana4311 Regular folks can't buy off the politicians, that's why.
Who said I had to buy them lol 😂. I am not a black and white thinker who does not know my rights as a American citizen nor one that only sees the lack of opportunities right before us. Trust me where there's will there will always be a way.
Most often there are only two choices: to shrink or to grow. Living/owning in a shrinking community/economy is never a good option. Colorado is a beautiful state with diverse economy and good weather relative to most states. It was bound to happen....Don't forget to the blame on wall street corporations buying up homes
I was shoved out by the rent prices 5 years ago! And now the prices in the surrounding states are unaffordable, too.
I moved to Colorado in 1981 originally. I moved around in the past few years and returned because Colorado was my second home (I grew up in NYC). I left last fall because I’m at retirement age and couldn’t be sure I’d be able to keep up with the rising cost of real estate.
Same here. I'm headed out soon for better pastures.
im a native and I blame marijuana. it ruined this state. its soo crowded and everyone is stoned . very stupidly stoned.
@@whooptydoo6256 wish we waited for federal legalization. Wish I could take back my vote, was hoping voting would take out the lazy scumbag dealers.
@@whooptydoo6256 it’s definitely not marijuana that’s causing house prices to go up. You must be stoned yourself
That’s what my mom did. She just retired last year and she came to Colorado in 1974, and she had to move to California in order to afford retiring.
They raised the wages and everything went sky rocketed!!! 1 bedroom 1800 2 bedroom 2900 3 bedroom 3900 so ridiculous!!!
I've moved around over the years. I moved to Denver back in 2015 and did a job transfer to another City and left Denver in 2020. Being originally from the Northeast. I noticed that Denver was starting to become like L.A & NYC. People back home would ask me about Denver etc. I call it "Condo City "😄. Today you can have a busy Gas Station and next week its torn down and a Month later there's a new High-rise Condo. Enjoyed my living in CO, but don't miss it especially with Rent going through the roof. Cherry Creek, Englewood/ Centennial, Highland Ranch, Cherry Hills etc I can see prices going extremely high. But Thornton? There some parts of that area not so great.
Native here. It's becoming exactly like California.. and these transplants and the weed bullshit destroyed everything. They charge to go see hanging lake reservations are needed to go visit certain trails..
Native here also. Hanging Lake used to be easy to go see and it's beauty respected, but then the out of state pot-smoking hordes arrived and trashed it, along with other sites in Colorado. So as far as I'm concerned, bring on the fees and reservations.
I agree the legalizing of weed totally fukt up everything
And those of us who are disabled are just straight fucked out of our places to live.
Tent City USA for us.
This will burst soon .
Remember what happened in the 80s.
This clearly and abuse by house owners taken advantage.
What goes around comes around I give it one more year when they realize it will too late.
Lived here from 1999 to 2017. Mostly rented 1bdrm apartments. In 2008 I was renting a nice clean place in Wheatridge for $400. By 2017 I was paying over 1k for 1bdrm in Englewood and the building had bugs, roaches, bad neighboors, etc. But I was lucky to even have that, just finding an opening is difficult. Plus a lot of these renters are real jerks, had one guy who felt the need to "lay down the laws" of the building before I even filled out an application.
It will be rough for the younger generation. They may need 15 roommates just to pay the rent.
There is no way my elderly tenant can make enough money working part time jobs to pay all the rent we agreed on. But, having a stress free tenant with all the "bad tenants" out there,,, and we don't really need the money as with our social security, and our part time jobs, and what little she can pay us, is fine by us.. She has no place she can go if we kick her out, and landlords must consider that . Greed is terrible when the landlord only wants to make more profit above his costs.
Nice people, you are! My landlord (I'm in Indianapolis) owns the house outright. They inherited it-no mortgage. Been in this 2-bed duplex for 10 years, and know i need a "plan B" but also don't know how I would move. I'm in a very sought after area in Indy, in a house where I have a fence for my dog, a nice screened porch, a huge dry clean basement, and a garage. House has Pella windows, is all brick, they-pay the water bill, my utilities are low. I pay $750/month. Other 1-bed duplexes in my neighborhood-and all over Indy-rent for at least $1100/month, even in bad/worse areas. I feel lucky for now, but this nationwide housing crisis scares me!
Me and my fiancee both work 2 full time jobs. The American dream is just that, a dream.
When interest rates go up, (the loans the landlords have) are tide to the prime. So the payment on those loans increase. Also county assessments have gone up 170%, so property tax has tripled. And insurance has doubled. This all gets passed through to the tenant. The fix to this is to tax only on what was actually paid for the property. GET RID OF COUNTY VALUATIONS.
Why is there this much demand? The population didn't just double. So how are this many more people wanting to rent and buy? The only explanation I can think of is corporations/rich are buying homes and keeping them vacant.
There are 2 houses in my neighborhood that have been for rent for awhile now. They want almost $3,000/month!! That's more than double our mortgage payment. Then a house that was bought last yr that has just been sitting there. I don't even think they can afford the cost to flip it.
I'm sure there's also plenty of foreign players buying up all the property all over the country.
@@catherinemartinez5542 Morthgage is nothing...my mortgage is 1100$....property taxes, insurance and utilities are 1850 $........so mortgage is nothing...!!!!
For the past year 200,000 people a month....a month....have been crossing the border. Month after month.
@@traceytheisen8067 And most were sent back....what's your point...???????
I’m a native here in northern colorado. 25 yrs old, It’s insane. Prices keep rising and it’s really sad. My parents and all my family have left !! I’m the only one still here. I’ve been an electrician for a long time so I can afford to live here but there are a lot of people struggling.. something needs to be done.
My question is this: who is paying these $2,500+ rents for STUDIOS? How are people (particularly young people) able to afford that???
A steady remote or local tech job? Then Buy an older used car if you need it
Nobody is only Sucker's.
you work overtime
RICH PARENTS!
Only Fans selling feet pictures
Just want to say that this is a very well-edited video. I liked the infographic text.
I’m not in Colorado; I’m currently in DFW Texas and just in these past three years I’m being squeezed out because of outrageous increased rent and having to move back to southern Illinois…just as soon as next tax season rolls around. Believe it or not, the cost of living is much more affordable in southern Illinois than it is in Dallas Ft. Worth.
Unbelievable.
It's better to have a mortgage in DFW than to rent.
@@bobbytatum84
Well of course it’s always better to have a mortgage…but it’s not so easy to get a mortgage and buy when you’ve been squeezed out of the market and outbid by buyers for markups of over 30-50K cash!
Landlord here! I generally do not raise rents on my tenants if they are good, pay on time, keep my place clean and rarely bothers me.
I'm looking for a studio or 1 bedroom got anything available?
@@JellyFilled4Justice Sorry all my rentals are currently filled. Good luck on your search!
@@geocam2 Don't get me wrong, I love making money more than anyone I know. But sometime doing the right thing and being ethical are more important than just making money. A lot of people are struggling to put a roof over their head and living paycheck to paycheck. I want to be a solution to a problem not a source of the problem.
Smart man.
I have 5 houses available in Arizona, but;
renters are not worth the hassle. I rented out a 2 bedroom for $400 a month and still they weren't happy. FFS
This is why in 2015 we purchased our home in Colorado springs. We rented in Aurora and we thought then,2015, it was too expensive. I cannot imagine now!!!
I live in the SF Bay Area and even my studio is 'only' $1300!! And that's a lot already. $3000 is just unethical.
My experience in Denver was that with $7,000 cash in pocket I could not find anything to rent except the $2000+ per month for a 1 bedroom. I too moved North last year's fire in Bolder removed 1000 homes and apartments from the market, I can not imagine how it is in that area now.
Boulder*
@@petertheoneandonly9752 I think we got what Mr. Donnell was intending to say. Geez smh
@@jaybreese7416 Breeze*
@@petertheoneandonly9752 then I would be way too cool 😎. gottahavesomelimits
I think you mean the Marshall Fire. And no fucking way that area was affordable before the fire.
I'm 20, lived here my whole life, and can't pay rent here. It's too much. I'm just starting out life and I can't even really do it without paying an arm and a leg for a studio. The fact I'm pretty much being forced out of my home state hurts immensely
Welcome to the real world.
It happens.
The state has California politics and California cost of living.
Well she just stated young people are rented at a high rate. Where they can't keep up with the demand for rentals for young people. I know it is all bullshit just by your statement.
I seriously feel bad for you younger generations that want to strike out on your own. I know how hard I had to work for my independence living the single life by myself in Colorado and the daily sacrifice it took, but if I was just starting out today like you, I am not sure even working 3 jobs would even cover all my expenses doing it alone all over again.
@@michelelee9824 I agree.
I could do it at 25 ... and did, had cash to live a year without working in Nevada. I saved it myself over 3 years of working after college.. got a great job in Nevada and lived everywhere I wanted to in the country without financial concerns... simply not possible nowadays
At some point only people with resources will have a roof over their heads. It won't matter how hard you work, a basic roof will be out of reach.
Too many people also moved to Denver (including my own daughter) all at the same time. I literally couldn’t go anywhere without hearing someone saying “I just moved to Denver, I live in Denver or I’m moving to Denver.” I drove with my daughter across the US to move her to Denver (I don’t live in CO) because she just simply “wanted” to move there (I believe because she was following what others were doing moving there.) Now she wants to move out of CO after only being there for one year and her rent is $2200.00 per month. It’s ridiculous and I never understood and still don’t understand what the big deal about Denver, CO or Colorado altogether is because I was there visiting when I helped her move. 🤷🏼♀️
Its greed, period.
It's increased property taxes, insurance, repair costs, water, gas. You're just uneducated or slow.
All these real estate agents and brokers all smile with a grin on their face when they say people are priced out so they can make more money.
Honestly I hope the real estate market crashes and burns so their they’d stop smiling. We will see what happens.
Don't blame the players, blame the game. Denver has strict zoning policies and building more unites is very difficult. All American cities should loosen their zoning requirements and lower their developer fees. More homes= lower prices.
@@sm3675 People are cutting their prices as we speak. The housing market will crash as rates go up and more and more people default on their homes. I ain’t a hater but the players are assholes who deserve everything that’s coming to them. I don’t have to hate for karma to get them. I’m quite a happy fellow here.
Actually a crash makes it worse people will lose their houses then there will be more renters driving up the price of rent.
@@rustinpierce7269 Not if people are selling it for cheap just to get out of their housing loans they can’t pay.
I live in an Australian capital city and the vacancy rate for rentals is 0.3%, it’s the biggest housing crisis in Australian history. Here’s who’s not getting a look in: single mothers
People with pets
Young single males
People on disability payments
Pensioners
It’s terrifying
its the same thing down here in tampa. downtown studios are like 2k now its insane
You don't have to look at just Denver. This is going on everywhere. I live in Durham NC and the same is happening here too.
All of Research Triangle is expensive.
@@JBoy340a It's gone way up and it's gonna become like the California cities where the low income can't live here. I am so glad I ain't out there looking for a place nowadays.
Anywhere the tech industry implants itself, the cost of living inevitably goes through the roof. Too much money chasing after too few goods.
@@JBoy340a Those Silicon valley residents have to move out of state. It's too expensive there. RTP is less expensive.
Agreed if you didn’t buy a home before Covid -you are screwed.
40% rent increase in one month. Fixed income. 11 years and I'm out now.
You typically get two of three good opportunities to buy housing at good prices in a lifetime. Renting has a severe downside as we are seeing. We might be within a couple of years of another good buying opportunity. Keep your powder dry. The corporate interests that have been buying homes may have to unload at a certain point if the economy tanks and can't support these lofty rents. You have to be ready though.
A buddy of mine has the best landlord ever. He pays $1400/month for a two bedroom single-family home in a good central location in San Diego. Only gone up $200 in the past 10+ years. Not bad considering that a similar house across the street just sold for $1.15 million.
That's crazy good. I lived there form '97 to '03, and had some similar experiences with great finds for housing. I'm back in Indianapolis since then, and for 10 years, I have had a similar, WAY below market rental. It's a good thing, but it won't last forever.
I'm a landlord in Aurora. I have had the same tenants for 5 years who are wonderful renters. I've only raised rent $100 in that time for a 2400 sf townhouse. I am probably $500 under market. However, my property taxes have almost doubled and my hoa has gone up over $100 so I'm going to have to raise the rent some anyway. We're not all greedy but I've been going backwards.
And your property taxes are still low, based on the value of your property, compared to your neighbors in Nebraska and Kansas.
@@msmisonlyrealnews3670 I used to live in Nebraska years ago. I do remember them being high then.
I've tried to tell many people how property taxes are just a way for the people to never really own their own homes. It's jarring how many of them are ok with it though.
@@msmisonlyrealnews3670 Not all state tax property tax rates are the same, keep that in mind.
Maybe you could just take an actual L once in a while? Like the people in the video said, you're just putting all the inflation onto someone who is worse off than you.
“The love of money is the root of all evil.”
People have to submit personal & financial information with your application for a rental. So the management look at that & assume you can afford the rent increases. There are management companies buying houses & raising rents.
Born and raised in Denver. You have to dang near prost. And drug deal these days. Hate it here
I work for a moving company in Denver and I have to say all I've been doing is people who have lived in Denver for years from nice houses to moving in with roommates, family members, and into efficiencies
I became homeless last November after rent increases pushed us out of our apartment. I spent 3000 (a loan) in applications snd fees. I ended up in another state 500 more. I lost decent insurance options as well. We won’t make it much longer here.
I just moved to Queretaro,Mexico at 79, since USA is too deadly and expensive. If you are on a pension, or can work online, get out of the USA. Open Charles Schwab debit cards to avoid ATM fees etc. Visit Mexican consulate in your town and provide financial requirement to get a Temp Visa or Humanitarian Visa. Your money goes farther here and no shortage on food preps. La Comer is a great supermarket for online shopping and home delivery, My living costs were reduced 60% and all utilities included, furnished and a maid with beautiful views of the safe and clean city.
It's the same story in a lot of cities. Moving out of Denver, or whatever city you want to live in with a similar issue, is not a solution. You'll just hit the same problem elsewhere.
Actually, no. There are other cities that are far more affordable, just not where you’d usually think of looking.
@@margaretames6522 True... Get the hell out of this over price cities simple.....My mortgage is 700 per month plus taxes for a 3/2... But yeah my small city is not a cool city like Denver but hey I can visit those places and go back to my take it easy kind of city any time baby.....
@@margaretames6522 Cleveland!
@@margaretames6522 yes, often terrible weather in such places
@@msmisonlyrealnews3670 tried that years ago. Nope.
You might not have a hundred million dollars to invest, but that doesn’t mean your money can’t share in the same opportunities available to others. You work hard for your money; make sure your money works hard for you.
The wealth you pass to the next generation can have a profound impact on your heirs, providing educational opportunities, the capital to start a business, or financial support to your grandchildren.
To manage investment risk, consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal. Remember, diversification is an approach to help manage investment risk. It does not eliminate the risk of loss if security prices decline.Because investing can be complicated, consider working with a financial professional to help guide you on your wealth-building journey.
can you endorse any ?
TERESA JENSEN WHITE does a perfect job. look her up on the web
thanks for the info . Found her website and it impressive
WE SHOULD ALL LIVE IN THE STREETS....WE THE PEOPLE SHOULD TAKE CONTROL.
My rent went up more than $100 each year the past two years. I don’t get how I can afford $1300 for rent but I can’t get approved for a mortgage for that price.
yep, I've been priced out of two buildings in the short time I've lived here. It's truly not okay. Something needs to be done.
I make a great wage as a federal employee, but I still can’t afford to live here in the Denver Metro area. I’m currently looking for a job outside of Colorado because it’s become so unaffordable here.
Don't allow CORPs from buying single family/condo/town-house homes to increase inventory so people can afford to buy.
Not only Denver but everywhere in America
This is nation wide. It’s crazy.
I left Denver several years ago, my rent was raised $1000. 00 and my pay hadn't changed in 5 years, and I simply could not afford to live in a city that I called home for almost 25 years, I built a life there and then without notice, it was all gone and of course my job didn't care when I asked for a raise, I was politely told "NO". I live in another state and I'm about to purchase my first home and my pay has increased by $12.00 more per hour. I hear my friends that still live in Denver and how they struggle to keep a roof over their head. I have several friends that are Colorado natives, who are now moving to another state for a better opportunity.
And guess what, now yall are fucking up other states economy and pushing those natives out of their homes. Yall got the state you deserved and then moved to mess with another
@Truth Teller Though it's really none of your business, we had a freeze on our raises.
@Truth Teller Some people are trustworthy and loyal
Moving to another state for better opportunity isn't goin to last long.. once the landlord sees they can charge more they will be screwed...
@Truth Teller it's her employer's fault. Are you going to ask that same question to everybody who mentions their pay not changing?. There aren't enough high paying jobs to go around. Not even for 30% of the population let alone a majority.