U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Colorado > Denver
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-05-2015, 09:29 AM
 
Location: Denver, Colorado U.S.A.
14,174 posts, read 23,221,211 times
Reputation: 10428

Advertisements

Quote:
Originally Posted by emm74 View Post
Agree.

I check the Stapleton listings regularly. A few weeks ago, there were around 70 listings, today, it's down to 47. Maybe some will hit later today since Thursday is the best day to list but it's still quite a drop. And low inventory means higher prices.
Our plan is to sell our Stapleton house for a million bucks in 10 years when our kids go off to college, then downgrade to a townhouse. So far, I think we're on target
Reply With Quote Quick reply to this message

 
Old 06-05-2015, 10:30 AM
 
Location: In The Thin Air
12,255 posts, read 8,040,413 times
Reputation: 8908
Quote:
Originally Posted by denverian View Post
Our plan is to sell our Stapleton house for a million bucks in 10 years when our kids go off to college, then downgrade to a townhouse. So far, I think we're on target
I like your plan.
Reply With Quote Quick reply to this message
 
Old 06-05-2015, 11:00 AM
 
Location: Denver, Colorado U.S.A.
14,174 posts, read 23,221,211 times
Reputation: 10428
Quote:
Originally Posted by Timmyy View Post
I like your plan.
Part of that plan is to take $100k from the house and put it toward college for the kids. Or bail... depends on which way they go in life
Reply With Quote Quick reply to this message
 
Old 06-07-2015, 10:21 PM
 
Location: Phoenix, AZ
1,802 posts, read 2,072,822 times
Reputation: 2763
I just put my townhome on the market this past weekend. Asking price was $249,900. Had about 50 people show up to the open house on Saturday (between 11 and 1), 13 scheduled showings after that on Saturday and 5 more showings today. We had 9 offers by end of today (Sunday). Two were cash, several were with at least $50k down. All except two were over asking price, with one $12k, one $15k, and one $25k over asking price. I think it's safe to say the market is still pretty darn hot in the Under $300k price range. I've never seen anything like it. This time was certainly nothing the last 3 times I sold a home, that's for sure. It seems there are a lot more people than I thought sitting on piles of cash, too.
Reply With Quote Quick reply to this message
 
Old 06-08-2015, 02:56 PM
 
Location: The Berk in Denver, CO USA
13,950 posts, read 20,207,715 times
Reputation: 22581
Default Denver. You can't afford to live here.

These Are the 13 Cities Where Millennials Can't Afford a Home - Bloomberg Business
Reply With Quote Quick reply to this message
 
Old 06-08-2015, 03:15 PM
 
20,844 posts, read 39,064,756 times
Reputation: 19075
I saw that early and almost posted it....

The Millennial Housing Affordability Index is interesting data. Millenials on the west coast are in a world of hurt.

The affordable places for Millennials are largely the old rust belt cities, which may be attractive locations to many more people seeking lower home prices.

Median home price in Denver is listed at $311,525. Trulia tells me the median home price in COLO SPGS is $212,500 which puts it at midway on that list.
__________________
- Please follow our TOS.
- Any Questions about City-Data? See the FAQ list.
- Want some detailed instructions on using the site? See The Guide for plain english explanation.
- Realtors are welcome here but do see our Realtor Advice to avoid infractions.
- Thank you and enjoy City-Data.
Reply With Quote Quick reply to this message
 
Old 06-08-2015, 03:22 PM
 
Location: Denver, CO
2,391 posts, read 1,797,881 times
Reputation: 1920
The article has established what I've been saying for the longest time. Denver is one of many cities where many young people really can't afford to live or set up shop for the long haul. It's quickly becoming a mecca for the already established elite.
Reply With Quote Quick reply to this message
 
Old 06-08-2015, 04:06 PM
 
Location: Denver CO
21,016 posts, read 11,641,475 times
Reputation: 31892
I lived in Boston when I bought my first home, but rents were not as crazy as they are now so I could actually afford to save up some money, enough to use a first time home buyer program anyway.

Plus I didn't expect to buy a home as a single person in my 20s and when I did buy, I bought a condo, not a median priced single family. So even looking at the stats, you need a salary of over 42K, which is not unrealistic, and you need to be targeting a condo or townhouse or small starter home as your first purchase. I don't see where millennials are in any different position than I was 20 something years ago, frankly, California coastal cities excluded.
Reply With Quote Quick reply to this message
 
Old 06-08-2015, 04:21 PM
 
Location: Denver, CO - Capitol Hill
557 posts, read 665,611 times
Reputation: 513
Written 8 months ago, and might have already been discussed, but an interesting read nonetheless. Denver ranks third in millennial growth from 2000-2012. I'd imagine we've probably moved up since 2012.

http://mobile.nytimes.com/2014/10/20...bg=0&referrer=
Reply With Quote Quick reply to this message
 
Old 06-08-2015, 06:21 PM
 
Location: Denver, CO
2,391 posts, read 1,797,881 times
Reputation: 1920
Quote:
Originally Posted by emm74 View Post
I lived in Boston when I bought my first home, but rents were not as crazy as they are now so I could actually afford to save up some money, enough to use a first time home buyer program anyway.
This is key. Fortunately, I live in a 1-BR on the outskirts of Denver and have a cheaper apartment, so I can save a little bit better than my peers living in $1000-$1500/mo places closer to the city center. However, I'm still paying about $850/mo (including utilities) for the cheap apartment. That doesn't seem very cheap to me considering where I live (broken down property with no amenities essentially in suburbia).

Quote:
Originally Posted by emm74 View Post
Plus I didn't expect to buy a home as a single person in my 20s and when I did buy, I bought a condo, not a median priced single family. So even looking at the stats, you need a salary of over 42K, which is not unrealistic, and you need to be targeting a condo or townhouse or small starter home as your first purchase. I don't see where millennials are in any different position than I was 20 something years ago, frankly, California coastal cities excluded.
As a first time Millennial home buyer myself, I can say that it's still extremely difficult to find townhomes and condos that are affordable, not to mention "starter" homes. I just put two offers on "starter" homes today that are priced at $180k to $200k. These houses are small (less than 800 sq ft) and need a bunch of work inside and outside. These are not "starter" home prices where I come from, but oh well I guess. Townhomes and condos are not necessarily an easier go-to option either, because even when you find one in your price range, HOA fees (typically around $200-$300 from what I'm seeing) tend to make the monthly payment less affordable.

It's tough for me to try to save money here while living a relatively normal social life, and I'm making around $61k ($67k w/ bonus) per year. I can't imagine doing it on $45k/yr.

Last edited by Lafleur; 06-08-2015 at 06:31 PM..
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Colorado > Denver
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 10:08 AM.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top