Don't understand the whole Denver is not cheap spiel. (Aurora: transplants, to rent)

[wilberry]

I just can't see paying 150 k to 250 k for a condo that is really just a small apt unless the payment is so much more lower than the rent . This is something that I heard about many times from people that lived in Denver over the years . When the average working person could not afford a house they would buy a town house or a Condo ( apt ) . Denver has been a " two income " place for a very long time from what they tell me . When the Salaries don't keep up with the cost of housing it creates a lot of problems for people. There was a brief period when the the hourly wage of 20 an hour for a skilled worker was enough for two people to own a house or townhouse.
There was a real estate crash in the late 80's in Denver and it was a great time to buy if you had the means . There was a brief period after the Dot com crash in the early 2000 's . Similarly after the 2008 realesate crash but it seems that there is only a smaller and smaller window in each cycle when the opportunity to buy presents itself .
During the 70's when Denver was building subdivions buy the week , builders like Pulte and Wood brothers were building town houses and homes in every price range . A Framer carpenter could afford to buy one if the small homes he was building . Now in 2016 are there any Builders building affordable homes ? I think maybe this is the problem and what would be the modern comparison to the 1950 's track house ?. Would anyone even want to live in a " Mini " home ?
Enquiring minds want to know ....

[alloo66]

1st world issues!

[Timmyy]

Originally Posted by alloo66

1st world issues!

[maciesmom]

Originally Posted by SQL

More people are, especially young professionals. When I recently visited, there was all sorts of new construction going on in the area. My GF and I are also considering, along with a few other places on our list.




I guess it depends on what area specifically. If it's in your current area, that doesn't seem too bad. The same dumps are going for half a million or more.

Perhaps things would have been vastly different if I hadn't graduated in the massive recession of 2008 and had to move across country for a job and settle for crap wages at the time. I would have bought a place then if I was making what any reasonable college graduate is making today or in years past, when it was more reasonable to buy. Now that I'm making somewhat of a decent living, I've been out priced of much of the market for basic detached SFHs in any slightly desirable area with decent access to amenities. What a time to be alive, I guess.

I still like my condo that I have now and it's in a very good area, but I could certainly use something ever so slightly bigger with a garage and basement, especially now that my GF lives with me. I'd settle for a nice townhome in a quiet, safe area. But it's indicative of the time my generation graduated into the professional world. We don't, and may never have it as good as our parents' generation.

Oh please. When I graduated college, I made low wages as well. When we bought our first home, interest rates were 10-12 %. We moved out here from a lower COL more than 20 years ago and rented for 2 years before finally buying a home. We thought it was pricey then.

You are not the first generation of young grads to struggle a bit and you won't be the last either.

[Good Red Road]

Originally Posted by maciesmom

Oh please. When I graduated college, I made low wages as well. When we bought our first home, interest rates were 10-12 %. We moved out here from a lower COL more than 20 years ago and rented for 2 years before finally buying a home. We thought it was pricey then.

You are not the first generation of young grads to struggle a bit and you won't be the last either.

And I walked 10 miles to school in the snow, uphill each way...JK

[maciesmom]

Originally Posted by Good Red Road

And I walked 10 miles to school in the snow, uphill each way...JK

Well I'm not quite THAT old! Although, I did walk to school, and sometimes in the snow.......maybe I am that old

But seriously, every generation has challenges and starting off is a rough adjustment most of the time. Unless you are in a particularly high paying field. Recent graduate are no exception. And they often tend to have higher expectations for their first homes as well. It generally works out.

[tothewolves1099]

Originally Posted by IndyRC

You hit the nail on the head as far as my reasons for moving here. I'm sure I've posted it elsewhere, but I moved from Houston to be near the mountains. I chose Denver because there was a job opening within my company that I applied for and got it. I received a hefty pay raise and paid relo. On the other hand, my wife took a sizable pay cut (works in medical). If not for the job, I'm thinking I would have picked SLC over Denver.

Coming from Houston, housing is crazy expensive and traffic is a breeze. I was miserable in Houston, but having a blast here. We actually go into the mountains and play way more than I anticipated.

Hello - we currently live in Houston and are considering moving. I work in IT and my wife works in Accounts Payable. We don't have any kids, just pets. How is it compared to Houston in regards to jobs? Did you have any trouble finding work? Do you miss the Houston traffic and humidity? LOL.

[Tex?Il?]

Prior to Denver becoming expensive it was known as "Menver", a city that definitely had a skewed sex ratio. This leads to single men being desperate and have their confidence shattered, while women had the upper hand, validated through attention and could be very picky. As Denver has become more of a "destination" I get the sense things have evened out in terms of single guys and single girls.

I hope this didn't come across as misogynistic. I certainly didn't mean it that way, but you never know these days.

[Timmyy]

Originally Posted by Tex?Il?

Prior to Denver becoming expensive it was known as "Menver", a city that definitely had a skewed sex ratio. This leads to single men being desperate and have their confidence shattered, while women had the upper hand, validated through attention and could be very picky. As Denver has become more of a "destination" I get the sense things have evened out in terms of single guys and single girls.

I hope this didn't come across as misogynistic. I certainly didn't mean it that way, but you never know these days.

No it didn't come off of misogynistic but it has been said time and again.

[SQL]

Originally Posted by maciesmom

Oh please. When I graduated college, I made low wages as well. When we bought our first home, interest rates were 10-12 %. We moved out here from a lower COL more than 20 years ago and rented for 2 years before finally buying a home. We thought it was pricey then.

You are not the first generation of young grads to struggle a bit and you won't be the last either.

2008 was one of the the worst recessions/economic declines since the Great Depression. I'm not quite sure what you're comparing that to. The late 70s, early 80s?

College grads in today's climate, and in other climates of strong economic growth have always been better off in terms of lifetime earnings, starting pay, etc. The statistics, data, and analysis is out there that support that claim. And considering what college costs today, compared to even 20-30 years ago, it's even more difficult to get an edge today than it has in the past.