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Affordable Housing in Denver

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Background

Denver provides a lifestyle that gives people many options. There is a mountain lifestyle that includes snowboarding, skiing, hiking, rock climbing, fishing, and experiences all the seasons. Then it also provides an urban lifestyle that includes a downtown life, clubs, bars, light rail, and has four major sports teams. Recently, Denver has been attracting individuals and families from across the country which has been driven by steady job growth and growing development of housing and affordable housing falling far behind. <Ref>Mirel, 2017

Cause/Problem

Since the system of housing prices is dependent on supply and demand. Once the supply becomes less and less, it causes the prices for homes to become more competitive which favors those with more money. With that, it then pushes those with lower incomes in a situation that they are forced to either move away from their home. The mix of unemployment being at all-time lows and with the average median income up by 36 percent has contributed to home prices averaging over three hundred a square foot which means a home that has two thousand square feet would exceed $500,000 <Ref>Pro Teck's Home Value Forecast: Denver Dealing with the Impact of Limited Housing Inventory, 2017

Solution

The solution to fixing the affordable housing issue in Denver comes down to varied approaches that meet skepticism on all sides. The government can provide rent-restricted units and programs that provide grant programs for housing subsidies that ensure that poor households can live in the community. With providing these programs, it prevents people from being pushed out of their community and move into better area communities <Ref>Lubell, 2016 Denver is currently at with its $150 million-dollar plan within the next ten years to help fix affordable housing. Some plans detail that while they have created 6000 homes it goals it still short by thousands. The government needs to be able to increase the investment in affordable housing to prevent homelessness <Ref>Oscar, 2017

References[edit | edit source]

Lubell, J. (2016). Preserving and Expanding Affordability in Neighborhoods Experiencing Rising Rents and Property Values. Cityscape, 18(3), 131-150. Mirel, D. (2017). Affordable luxury: Evans station lofts is helping to fill the affordable housing gap in Denver. Journal of Property Management, 82(2), 24-27. Oscar, P. A. (2017, Jul 24). Denver hits housing goal early but still has far to go. Next City.Org, Retrieved from https://csuglobal.idm.oclc.org/login?url=https://search-proquest-com.csuglobal.idm.oclc.org/docview/1923049885?accountid=38569 Pro Teck's Home Value Forecast: Denver Dealing with the Impact of Limited Housing Inventory. (2017, June 27). PR Newswire, p. PR Newswire, Jun 27, 2017.


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