It's been a minute since I've dropped in this thread since I spent the Summer in Chicago and two weeks away from hopping over to London for Sep, maybe October depending on the variants.
Looking at the census numbers, while it's always easy to cheer on ~20% growth in a decade, the metro area of Denver really needs to get their collective crap together on housing costs, and fast....
You guys all just had a massive debate on how Boulder has created affordability issues for other parts of the metro. While that's been true for decades now, don't forget.... We just had Lakewood pass their own cap a few years back, and they aren't small fish when it comes to their size in the metro. That's going to just squeeze things for Denver even more going forward. You now have caps in Boulder, Golden, and Lakewood. What happens when the next town/burb decides they want in on this because they don't like the growth?
And the decision to prioritize the train to Boulder over other transit is not good. Less transit options means more traffic, which means more bitching, which means more political ammunition for.... a cap on new housing.
Eventually, things will slow down if costs continue to go up. People simply will bypass Denver city limits, and buy a house sprawled out into Kansas.
I think Denver has a lot going for it, but man it just doesn't feel like it's worth the costs of admission anymore. When I first moved to Denver in 2015, prices were high, but reasonable enough that if they had stayed at that level, I might be persuaded to buy something bigger than a 1-bedroom condo. But now? Forget it. It's one of the reasons I have taken a break from Colorado, and the longer I am here in Chicago, looking at their housing prices (even with higher taxes), the more I am getting tempted to buy something here instead and just base my career out of here since most of my family is here and will likely be in a job I can do mostly remote for the rest of my life. I mean..... Look at the following Zillow comparisons of average SFH prices for Chicago/Denver/Austin:
https://www.zillow.com/chicago-il/home-values/
https://www.zillow.com/denver-co/home-values/
https://www.zillow.com/austin-tx/home-values/
I threw in Austin just to show Denver isn't alone in these problems.... But still, it's gotten crazy in cities like Denver/Austin, and it's not sustainable.
Again, trying not to crap on Denver, but if you guys aren't careful, you will have a city that feels not much different than Boulder soon.
Side note for Boulder - I feel like this pandemic is going to have a permanent negative effect on Boulder. Think about it, all the people that used to commute to work in Boulder five days a week are now going to come in just a couple days a week. That's a ton of money not being spent on the local economy there.