Home Builders Association of Denver | Denver’s chronic housing shortage may peak this year, but the fix could take another decade

Denver’s chronic housing shortage may peak this year, but the fix could take another decade

Region facing a deficit of 32,000 homes and apartments

More than a decade after the Great Recession swept through Colorado and decimated an overbuilt real estate market, metro Denver is now experiencing the other extreme: a chronic tight supply of housing that is sending home prices and apartment rents skyward.

It could take another 10 years or more to correct the imbalance, according to a new report on Denver’s housing crunch that points to a complex set of factors confronting metro-area homebuyers and renters, particularly those on the lower end or entry level of the market.

Those include shortages of available land for residential development and workers in certain trades, a backlash against growth, low productivity in the construction business and evolving consumer preferences toward bigger homes with more amenities combined with builders’ preference for selling higher-end properties. Read the article by By ALDO SVALDI | asvaldi@denverpost.com | The Denver Post