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Denver Millenials Priced Out On Home Market
by: Ashlyn Frederick
Recently I read a Business Journal article titled: "Denver is one of the 13 metros where millennials are priced out of the home market."
As a millennial myself, who just graduated college, I am in the same boat as so many my age, trying to figure out how to support myself in the expensive demanding city of Denver. I am doing pretty well, except for the fact that I can't afford to live on my own, thus I was forced to move back in with my parents and live in the basement.
The article states,"Denver has long touted its desire to lure in millennials to the city, often citing sprawling projects like the Regional Transportation District rail system and transit-oriented developments as the key to attracting young talent.
But according to a new analysis by Bloomberg Business, there's a big problem: Millennials are priced out of urban living and home ownership because of skyrocketing home and apartment prices coupled with wage stagnation."
Denver is certainly one of the most attractive places a millennial would move to, with it's exciting night life, youthful job opportunities, and easy transportation, but the one thing that is not so attractive is the cost of living. Most millennials are not making more that $30,000 a year, and with the cost of living it is impossible for them to buy their own house, or rent an apartment, and live on their own.
With such an unattractive cost of living, many young people are not moving to Denver. In today's world, we need the ideas of young people to help grow our companies, and businesses, especially with the growing use of technology. But if young people are unable to move to cities where there are large businesses, it will have a huge impact on the growth of Denver.
Most Millennials and dreams and aspirations, but with the reality of expensive living, many are discouraged that they can't live on their own yet. But I think it is still very important that us young people do not give up hope, but instead keep pushing and take opportunities that arise. Yes our first full time job may not pay enough for us to rent or buy a house, but at least we are getting experience that will better qualify us for better jobs in the future.
I promise you will not have to live with your parent's for the rest of your life, eventually you will have the urban living you so desire, but for now, just get the life experiences that will help you achieve your goals.
You can read the full business article below:
As a Full Time real estate agent for the past 23 years, Sheryll has helped hundreds of home owners in Colorado buy and sell their homes. Sheryll's easy going, no pressure style and her in depth knowl....
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