2020 Economic Conference
Nearly 500 People Attend Refreshed Event at Mission Ballroom
BY HANNAH HOCK
T
he “roaring” 1920s was a decade of
economic prosperity across the United
States. New inventions like the
automobile, the airplane, and the radio
transformed the technology landscape and gave
Americans renewed hope for the future.
A century later in 2020, Americans are again
exploring a new frontier of tech discovery and
innovation. Major metropolitan cities, which
now include Denver, are swelling with new
residents seeking jobs and fresh opportunity.
On January 28, the Apartment Association
of Metro Denver hosted nearly 500 industry
leaders at Denver’s newest concert venue, the
Mission Ballroom, during its premier 2020
economic forecasting conference for the Denver
multifamily housing industry.
2000 and 2020, over 200,000 millennials have
moved to Colorado. The initial boom in 2013
was unmanageable for Colorado’s infrastructures
and spiked rental prices, but the state has since
built their way out by creating more units. As
millennials approach peak home buying age,
this steady demand will only increase.
In light of this data, the resounding call-to-
action was to increase construction, particularly
in Metro Denver. Experts explained the growing
demand for housing must be met by supply in
order for Colorado remain economically secure.
Constructing new rental units and houses will
lower the prices of current residences and
accumulate affordable housing over time.
STUDYING THE PAST TO INFORM
THE FUTURE
Over the past decade, Denver’s rapid
population influx that has transformed the city’s
infrastructure and housing availability. The
growth initially revealed weaknesses in its
housing market, but the state has largely adjusted
to supplement housing for its booming size.
Current market analysis reports that
Colorado, particularly Metro Denver, is behaving
normally compared to Q4s over the past 40 years.
Vacancy is at 5.3% and average rent has decreased
to $1,503. Overall, Colorado’s economy is largely
stable, and less volatile than it has been in
past years.
“The economy is slowing, but still growing”
said speaker Elliot Eisenberg, the internationally-
acclaimed “Bowtie” economist. “The market
experienced an unusual growth spike over the
last two years because of tax cuts, and it is simply
slowing down to an average, stable rate. While
other industries may be experiencing slumps,
the housing industry is strong and does not need
to be worried about an impending recession.”
In addition to Elliot Eisenberg, attendees
heard from CoStar Market Analyst Michael
Petrivelli, industry expert Teo Nicolais, and a
panel of other housing influencers. The topics
of discussion centered around market growth,
multifamily industry challenges, and potential
regulatory impacts.
Colorado’s rapid population growth,
particularly among millennials, was a primary
source of analysis during the conference. Between
www.aamdhq.org
How Will the New 20's Roar? Elliot Eisenberg
JANUARY 2020
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