Why Denver Is Struggling To Keep Up With Its Economic Boom
429,793
Published 2024-05-22
Chapters:
0:00 Introduction
1:25 Growth
5:45 Labor and Migrants
8:20 Managing expansion
Produced by: Ryan Baker
Edited by: Darren Geeter
Animation: Christina Locopo
Senior Managing Producer: Tala Hadavi
Reporter: Carl Quintanilla
Supervising Producer: Erica Posse
Senior Executive Producer: Ray Parisi
Camera and Audio by: Van Applegate, Dan Dvorak, Breck Larson, Oscar Molina, Tara McCurrie, Rob Stookey, Micheal Kranicke, Drew Levinson, Kevin Sanchez, Bob Tatlock, Marco Mastrorilli
Additional Footage: Getty Images, Denver Metro Chamber of Commerce, Denver Arts & Venues
» Subscribe to CNBC: cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: cnb.cx/SubscribeCNBCtelevision
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to make extra money outside of your day job? Sign up for CNBC's new online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories. CNBC Make It readers can use special discount code CNBC40 to get 40% off through 8/15/24: cnb.cx/4dFP9Wa
Connect with CNBC News Online
Get the latest news: www.cnbc.com/
Follow CNBC on LinkedIn: cnb.cx/LinkedInCNBC
Follow CNBC News on Instagram: cnb.cx/InstagramCNBC
Follow CNBC News on Facebook: cnb.cx/LikeCNBC
Follow CNBC on Threads: cnb.cx/threads
Follow CNBC News on X: cnb.cx/FollowCNBC
Follow CNBC on WhatsApp: cnb.cx/WhatsAppCNBC
#CNBC
Why Denver Is Struggling To Keep Up With Its Economic Boom
All Comments (21)
-
Let's start with not allowing corporations to buy single family homes. They just turn around and put them up for rent via short term or even long term rentals.
-
I have applied to countless construction and carpentry apprenticeships without avail. Everyone says we need bodies to build homes but when you ask around Denver nobody gets an opportunity because nobody wants to pay a living wage
-
I dont understand why this country is allergic to affordable, multi family housing
-
"We need to build more affordable homes for people." -cuts to giant, single family houses under construction America is trying to do everything except build smaller, denser, more affordable housing. It's crazy. Not everyone needs a 4 bedroom mansion with a yard. We need to build a lot more town homes, duplexes, or (THE HORROR!) midrise apartments.
-
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
-
Even if you have a full-time job and you make $27 per hour, Denver is still too expensive to live in!!!
-
"cost of a home went up 65% in 10 years, and wages went up 20%" should be a red flag and should have legislation to prevent or else people wont be able to buy homes any longer as it snowballs and compounds
-
My wife and I are teachers and we used to live in the Denver area. On both of our incomes it was almost impossible to live in a safe apartment. We moved to Ohio, bought a 3000 sq ft 3 bedroom home and can now afford to have kids on the same salary
-
The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
-
It's pretty obvious to any native of Colorado that there was a sense of unpreparedness from our Government as Denver grew too quickly. My God, it was like a feeding frenzy for a few years.
-
I live in Western Kansas. We have been getting a lot of transplants from the Denver area, especially after COVID. It's not just my town, it's all towns in the region. Since we have been suffering from depopulation for so long, we see it as a blessing.
-
As a Chicagoan, I love Denver. I love Colorado. The people are chill and nice, the weather is great, and the nature is unbelievably beautiful. if Denver could figure out their public transport system and housing, it'd be awesome
-
As a Colorado native I can tell you our state is ran by real estate moguls who want to keep property values high. They could easily rezone for smaller affordable homes but they only want luxury or oversized homes.
-
Love how they said the population that grew up here isn't educated enough for a lot of the jobs and then mention how CEOs call every day asking to hit the immigrants.
-
"Job opportunity" meaning many low-paying jobs. Unsustainable here hahaha
-
The tax dollars pay for free housing for migrant workers. But to do that they have to cut local programs and services for Americans in Denver that pay those taxes. 🤦🏾♂️
-
I left Colorado last month. Do not regret it at all so far
-
So many lies by the governor and mayor in this video. If you live here you know. Teachers cant afford to live here. Air quality is crap that is why starting this year the EPA is requiring specially formulated gas due to surface level ozone levels. There are jobs but they typically dont pay enough for you to live alone. And over the past year more people have moved out of Colorado than in. We are losing native residents to other states due to cost of living increases of 100% over the last 5 years. Inflation is far outpacing the national average here as well.
-
Ironic, because I was in Denver last year and swear there were apartments going up everywhere I looked. Sounds to me like there's not a lack of housing, but a lack of affordable options.
-
Look at downtown Denvers renter market.... we dont have a housing shortage, we have a affordability shortage. Most apartment buildings in downtown denver are half empty and charging +$2000 for rent.