The 10 trends that will shape real estate in 2020

Curbed covers the latest housing trends for 2020.

 

“A market as large and dynamic as United States real estate rarely moves quickly. But the most striking narrative running throughout the annual Emerging Trends report from the Urban Land Institute is the sense of static and stasis.

Economic and political uncertainty have made things feel unmoored, but the overall insight conveyed by the authors—Urban Land Institute and PricewaterhouseCoopers researchers personally interviewed 750 industry members, and surveyed 1,450 more to create this report—is that we’re in for a soft landing, not a sudden crash. There may be less sudden moves, but that doesn’t mean some of the trends emerging this year won’t become breakout investments in the near future.”

 

Read more on Curbed here.

Denver bumps Colorado Springs on US News’ 2019 ‘Best Places to Live’

This just in! Denver Business Journal highlights how Denver is number two on US News’ 2019 ‘Best Places to Live’.

 

“Everyone who lives here knows Denver is a great place to live, but a new ranking by U.S. News & World Report re-confirms it.

Denver moves up to No. 2 on the 2019 list, reclaiming the spot from Colorado Springs, which moved from second to third place this year. Last year, Denver was No. 3 and in 2017 it was No. 2.”

 

Read more on the Denver Business Journal here.

How Multifamily Housing Can Solve Urban Loneliness And Boost Value

This just in – Forbes covers how to tackle loneliness with multifamily housing.

“With loneliness on the rise and soon to reach epidemic proportions, building community, especially within apartment buildings — where millennials and Generation Z are the dominant renting population — is critical.

Considerable research is now going into solving the problem of loneliness through community in apartment buildings. It seems that fiscal value can be placed on friendships. The National Apartment Association housed a panel discussion about apartment communities in 2017. According to Laurie Lyons, U.S. Residential’s Executive VP of Client Services, people may be willing to pay up to an additional $200 monthly in order to live close to friends.”

Read more on Forbes here.

Getting Everyone on Board with New Affordable Housing Standards in Denver

In national news, Next City covered some of the latest affordable housing standards put in place by the city of Denver.

“The Northeast Denver Housing Center has managed affordable housing in the city since the organization was founded in 1982. Back then, the nonprofit financed projects with a 20-year agreement to keep rents affordable for families earning 30 to 60 percent of the area median income.

Much has changed in Denver since 1982 — one of the most striking changes being its affordable housing landscape. “What we did not realize back then,” says Getabecha Mekonnen, executive director of Northeast Denver Housing Center, “Is that 10, 20 years down the line, the income of our clients and the income we produced by the units would get outstripped by the cost of managing or repairing the units.””

Read the rest of the article here for the new approaches the city of Denver is trying to help solve some of the challenges faced by residents seeking attainable housing.

Denver is the #2 ‘millennial boomtown’ in the nation

The Denver Business Journal notes that, according to a new report from MagnifyMoney, Denver is only second to San Francisco for cities popular with millennials.

“From 2011-2016, the five-year period for the study, Denver’s millennial population increased by 18.7 percent. The Mile High City’s millennial workforce grew by 27.9 percent to 378,772 workers, the second-highest increase in the country during the period. Raleigh’s unemployment rate fell from 9.1 percent to 4.9 percent, a 46.3 percent decrease, while the median annual salary rose 13.1 percent to $32,243.”

Read the whole article here.

Housing4Colroado Logo

This Map Shows Where Millennials Are Moving for Job Opportunities and Rising Wages

According to CNBC:

“Millennials are flocking to cities where jobs are plentiful and wages are high.

After analyzing data related to where young people moved between 2011 and 2016, as well as how their wages, participation in the workforce and unemployment rates changed over that five-year span in different metro areas, Magnify Money put together a list of the top “millennial boomtowns” in the U.S.

San Francisco, California, ranks as the No. 1 millennial boomtown overall with a final score, based on the four metrics, of 89 out of 100. Between 2011 and 2016, the millennial population increased 16.2 percent and the size of the millennial workforce rose 31.1 percent. Meanwhile, the unemployment rate for the generation dropped 40.3 percent, and its median wage jumped 32.4 percent to $40,304.”

Read on at CNBC here for the whole story.

Housing4Colroado Logo

USA Today: Housing Market Slows as Prices and Rates Rise, Buyers in Denver, Other Cities

A new article from USA Today takes a look at what househunting in Denver and other cities across the country looks like:

“Keith and Kylie Beukema were bracing for a year-long slog as they started hunting for a larger home in the Denver area, one of the hottest housing markets in the country the past few years.

Instead, it recently took them just two weeks to snag their four-bedroom dream house with mountain views in Thornton, paying $490,000 — $10,000 below asking price – after visiting just three other homes.”

Read the full story here.

Housing4Colroado Logo

YIMBY? Ben Carson, Trump’s Affordable Housing Secretary Pitches Affordable-Housing Strategy

This just in from Colorado Politics. Ben Carson, is pitching a new affordable-housing strategy – YIMBY-ism as opposed to NIMBY-ism.

“That is, he’s aiming to encourage people to say “Yes in My Back Yard,” instead of “Not in My Back Yard,” or NIMBYism, as its known.

In recent weeks, the secretary of Housing and Urban Development has embraced YIMBYism and called for the federal government to promote it, surprising agency watchers and urbanists and pleasing the bipartisan coalition of reformers who believe that restrictive zoning and land-use regulations are to blame for the rental crisis afflicting the nation and closing off some cities to the middle class.”

Read the rest here.

Housing4Colroado Logo

Is it time for the ‘Rise of Renters?’

According to Marketplace: yes.

“Homeownership may be a key part of the American Dream, but rentership (yes, that’s a word) has become the norm in more of our cities since the financial crisis. In 2016 renters outnumbered homeowners in 47 percent of major cities, up from 21 percent in 2006, according to a new analysis from APM Research Lab.”

Read the full article on Marketplace here.

Housing4Colroado Logo

Hot Housing Markets Like Denver, San Jose and Seattle Are Cooling

According to the Home Buying Institute, housing markets in cities like Denver, San Jose, and Seattle are cooling off.

“A recent report showed that some of the nation’s hottest housing markets are beginning to slow down. Slower home sales have been reported in housing markets like Denver, Oakland, Seattle and San Jose.

But despite this trend, the latest real estate forecasts suggest that home prices in most of these “cooling” markets will continue to climb in 2019.”

Read the full article here.