30% Housing Crash. Denver / Colorado.

[@DJR5280]

What no one is talking about in Denver and the Front Range is running out of water. New home developments around the Denver Metro are already being denied because municipalities cannot guarantee water to these new communities. I know personally of a new site one of the big builders tried to build on and develop and the city of Thornton declined the request because of water. Denver water this year is no longer tapping the Colorado River. They're sending it downstream. Water is gonna be a big deal here.

[@arkzyFn8]

A big deal everywhere in the west right now.

[@rakashaagain]

welcome to government! pay your taxes then they spend it to get reelected then say... no more money for the only essential stuff they should do.

[@DJR5280]

@@arkzyFn8 True dat

[@richdobbs6595]

There is a huge ability to reduce municipal water consumption by backing away from lawn requirements and watering of parkways. Don't count on that to cut back on building. Maybe Thornton's decline in requests is triggering Erie's boom in development.

[@DJR5280]

@@richdobbs6595 I'm in a new build off of Hwy 7 and Sheridan and I'm technically in Broomfield county but the HOA still wants you to have grass in your yard. My neighbors water 3 times a day everyday. I heard the price of water in Erie is insane.

[@BluesElwoo2]

Ive owned my home for 6 years in the Denver Metro area, and the value has nearly doubled! Thats great and all, but if I sold, all the money would just go into the new house, so its kind of a bust. As a Denver Native, I'd be alright with a crash. It just means that it would be a more comfortable place to live! It use to feel so carefree here! Its so busy and crowded, that it just feels more stressful. I've gotten use to it, but I miss the carefree nature this place use to have.

[@luismeraz9136]

Agreed

[@derrikbarnett9803]

Or you could sell and move to a cheaper state.

[@adamt7605]

God bless Jerome Powell for printing all this money

[@DJR5280]

What I miss is going to the mountains and not running into 25 people on a forest road in the middle of no where. Or a hippy party where they have a weekend camp party and leave all their trash behind and destroy the area

[@larkatmic]

Come to Colorado Springs. Denver’s care free days are over. Its never coming back. Housing bubble burst or not. There’s just too many people.

[@smk4902]

Excuse me! Pay $600k for an average house in a city where you have an oil refinery a few miles from downtown Denver? The whole area is a dusty desert. Normal neighborhoods look like trailer parks. The mix of industrial and residential areas is chaotic. Patch of green grass is a luxury. I don't get ii.

[@thetruthisoutthereyt]

It isn’t all ugly. I deliver concrete from Golden and see lots of beautiful places. Still, don’t come here. We are full.

[@coolbreeze7416]

Legalize pot nationwide and people will go home. It's a upper desert environment here. It's too brown and not enough trees. It really looks like crap from above.

[@garymyer]

You may want to consider that Boulder has growth limitations in the city charter, which restricts building. So your association with building permits doesn't apply to Boulder, or any city which has growth limitations. And you know what the supply and demand equation can do to prices.

[@lonzog9070]

This video hits the nail right on the head!! I live in Denver Colorado and can testify that all that is being said is genuinely on point. I'm a Colorado native and have seen the market just explode to a unreasonable point. Long story short if you don't make more then 100k a year you are not going to live comfortably and you will be living check to check. Thank you for this great data. Such great and accurate information!

[@jayc222]

It’s bad on this side of the Rockies too! Utah median price is $450k. In my city of West Jordan, it’s already hit $500k and neighboring South Jordan is $600k. It’s out of control, insanity, wherever you want to call it.

[@rahzelwashington6847]

Look at canada.. ave house price across the country is 700k, in major cities its a million plus. If you think denver is going to crash then 😂😂😂 its just what it is. If u dont have a house by now. Move or just accept being lower class. U missed out buds. Go make more money or quit being bitter and pathetic praying for a correction so your bum ass can afford something Your family is going to be renting a basement crom a 25 yr old crypto millionaire 😂🤣😂🤣😂 you couldnt write a story this funny

[@at5840]

Between my girlfriend and I we make 90k a year so would I live comfortably in Colorado springs?

[@DJR5280]

@@rahzelwashington6847 Denver is gonna crash. Along with the US. Wages aren't matching cost of living increases. Markets can't sustain 20% growth year after year. Eventually something breaks. Denver and the Front Range is also running out of water. Lack of water is already today halting development in certain Denver municipalities.

[@rahzelwashington6847]

@@DJR5280 if that were true how come it is sustained in canada? Ave house price is roughly 10x median household income nationwide, amd the ratio is higher in cities. Real estate price growth has outpaced wage growth for 30 years. Markets become equity driven... detached from local incomes. In my town there are people making 30k per year with 800k houses all over the place. They could buy a million dollar house if they wanted.. by using equity. Real estate inflation increases wealth of the asset holding class, and then the government drives interest rates down to negative levels in real terms, and people can pull equity out of their homes to finance investment houses, and this goes on forever

[@michaelgartner6663]

Bought in Colorado Springs in 2016 paid 235k. Basically because Denver was too expensive then. Selling our CS home in next 5 months. Agent did comps and we are listing for 520k. Moving to Reno Nevada back into our home that we are currently renting out. Will wait a year or 2 and buy another and return our original back to a rental. If, everything goes to plan.

[@at5840]

I like reno more than color springs but reno has become super expensive

[@michaelgartner6663]

@@ChopChic1 with the profit from the hole in the Springs we will pay off the Nevada house. Good for you being debt free in your 30’s. It took us a tad longer.

[@michaelgartner6663]

@@at5840 it’s dropping. Not like a rock, but you can see it.

[@billr5842]

Reno is getting filthy and crime is rising quickly along with the homeless rates. Not to mention the permanent smoke that will be here all summer from now on every single summer (itll only get worse too). I'm planning on getting out asap! Reno was once a nice city but it is getting really bad. I feel sorry for the people who overpaid to live in Reno. The Bay Area is honestly better than Reno now.

[@rodwoods2108]

Smart move, but be careful.

[@minutemantraining508]

Thanks for the Colorado snapshot and predictions, I liked the migration vs housing starts. But I would like to see added to that is the cities internal population growth (kids moving out of parents home to either apartment or purchasing their own homes). Because internal growth is going to compete with migration on purchasing available homes, which could continue drive prices up if new home starts are low.

[@garrydrussell]

Kids moving out of their parents home would have a difficult time finding an apartment to rent or home to buy unless they have above average income. Bidding wars are rampant in Denver.

[@JCS_fan]

Can we please get an update on the Denver market?

[@AJourneyOfYourSoul]

Up, up, up…….

[@ketang9052]

Up another 10% since this video. record low inventory. my new construction has been delayed for 10 months so far. Need Reventure to crash the market via youtube so I can buy more real estate here. Please post more housing market crash videos and title it 60% crash, more views, more fear, less demand, and lower prices for me!

[@Orangeshrew]

I lived in Boulder my whole life and I really wonder WHY the prices are skyrocketing, they really should be tanking! The homelessness is everywhere, the artists are gone, CU students didn't rent out any houses in 2020 because they all took classes from home, crime is getting worse, stores and restaurants are closing because rents are too high, and no one can live and work in Boulder because it's too expensive! Who's buying these Boulder homes if they're this expensive? How can you rent out a $2.2M home to college kids? Luckily I have a home, but it breaks my heart to know that each house is packed with 4-6 people to afford living here.

[@JH-zn9tc]

Yea...lots of CO refugees up in WY now... another failing blue state.

[@susanfreeman5340]

@@JH-zn9tc I understand that avoiding the politics gets subscribers from both sides. But at the same time it doesn't take a rocket scientist to figure out that blue areas are failing.. It is time for folks to start implementing permaculture in their lives. Close loop living.. Then the economy maters not..

[@buildergradeeconomy788]

Boulder is a majority renter city. Investors aka speculators are buying these ugly, old, small properties, to either park $, flip or maybe rent out.

[@jmitterii2]

This is same in Idaho. Even Utah. And not just in my Boise area, but in eastern Idaho where most of my family lives including parents in Pocatello. Record homeless... crack heads or whatever... even family members in the past few years have fallen to the opium pandemic leaving orphans for my cousins and brothers/sister to take care of. Same in Washington State in Spokane... and large cities have long since been hit all through the 2010's with increasing homelessness and slum conditions. Trip to Portland Oregon with my nephew, dead bodies literally laying under bridges... we called police as my curious nephew wanted to know if the guy not moving under blankets was dead... he lifted it, and sure as shit the guy had maggots all over him and was a putrid mess. The stench, similar to a rotting cow that you my come across hiking in Idaho anywhere. Horrid. This is robber baron 5,533.0 taking place. When will we learn wealth and income concentrations are not a wise ideal system. Not all of us will be trillionaires dillionaires quadrillion pentilion fucktilionaires in waiting. Pit workers against each other nonsense. Never works out for the worker. But the same poisonous propaganda does seem to work for the elites. Since time immemorial. Yet prices on homes continue to surge, fortunately building is happening across the state as much needed housing supply is built and continues to be built. Again, long term will be putting pressure on real-estate prices. Something that should have been addressed in great recession of 2008. It wasn't an over supply of housing necessarily, but a massive un-affordability crisis. Only reason US had a bout of prosperity across all economic classes in this now collapsing empire that is the US today similar on scale with the USSR's collapse, is that major labor and unionization took place along with first time ever housing programs that ensured tax money went to developing housing both multi and single dwelling units. This subsidy was not passed onto the price of homes and boosted supply to match much needed demand. Most people prior to the 1930's were living in "cabins" sounds quaint. Until you visit one, my grandma grew up in. Dirt floor. Caste iron stove. Plywood box. Part of the hovel hung over a small creek for quick water gathering with out leaving the shack. About 4 kids (including my grandma) grew up in this thing. Along came many reforms including works programs, housing acts, etc. that built sewers, city water, roads, electrical grid expansions, my great grandpa was able to get a job at a cement plant, along with many others, and build a modern house complete with electricity and complete plumbing both sewage and water in 1938. My grandma was about 5 when the modern house was complete. The property itself, was more or less a freebie in the middle of Idaho. Pioneering spirit was free land grants from 1860's onward. I mean, there's plenty of it in the west. And grant money to build on that land. The plutocratic everyone is trillionaires in waiting propaganda today would decry this as Lincoln -phones- I mean land. It was simply using tax money we all pay to fund ourselves into prosperity. And much of it is given today and mostly only to plutocrats... the dear job creators. Anyway, the plutocrats came running back to reclaim robber baron 3.0 in the US and we're living through it's misery. People wonder why WWI and WWII happened. Massive disenfranchisement tends to spread discontent.. and with technological advancements both in food production and medicine, people live longer and can think and ponder and act... that in other times they couldn't. Enlightenment dispelled superstition (for the most part anyway), so people didn't fall for the divine right of bullshit. The 1800's world wide was a cluster fuck. Enlightenment period during the 1700's wasn't much better on the stability front and economic progress front, but life expectancy shit, usually life expectancy in most places at that time was about 50's and many died in their 30's. This short life expectancy doesn't gravitate to festering rebellion or war in the same terms, mostly warring between nobility and royalty hang over from the middle ages. Little history recap. As we can take heed on what's happening particularly in the US. We're collapsing empire. And this insanity on prices like real-estate going crazy is happening everywhere. Is nothing new. Thomas Jefferson quote fits nicely what to expect going forward: “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around (the banks) will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered." You presently have a Federal Reserve system. It's not a publicly owned bank. It's private. It's a banking cartel. It is not like other nations have, a National Bank. The only thing public is that the chairman is selected by the president after being told his/her options from the banking cartel who they can select, then confirmed by Congress. And a few heads are also the same situation... they're selected by the president and confirmed by congress... the selection being more or less a small short list of who is acceptable to the various voting and non-voting members of the Fed (cartel banking). So our banking system is essentially a private banking system that has command over the Treasury and Bureau of Printing and Engraving to order money; caveats abound to make it appear less conflicting of interest such as Fed isn't allowed to buy directly from Treasury actions on treasury bills. So there's a middle man operation that does this as buyer of last resort as they know the Fed will buy them; the primary dealers as they're called. Then the Fed can buy the bonds from them. A temporary monetization of debts. Because the Fed uses funds collected from the banking cartel they all pay into a kitty, but also can demand money creation to buy the treasury bills or rolled over treasury bills called US bonds. The fed doesn't have a set limit on such purchasing/money printing to "buy' this stuff... made worse with Frank Dodd act of 2010... so they don't have to go to congress to pass a TARP spending bill to buy other things other than US treasuries and bonds. Now they can buy corporate junk bonds as well as REITs and other ETFs... and boy are they doing this with both hands. What they presently can't do via the Fat Fuck Gummer Frank and Admiral Ackbar Dodd Act, is to buy stocks outright. Cocaine Mitch looks more like Ackbar but he already has a nickname... cocaine Mitch with his wife's adventures in smuggling coke on their cargo liners.... cocaine Mitch. That might change. Japan is ahead of us in this disaster financial trap by about 2 decades. Japan's government owns 7% of their Japanese stocks. And most of its own debt. They have better social safety net programs... but things aren't that great going on almost 40 years now. Their stock market dumped in 1989. And has never come back since to those highs. Enjoy historic times. Because there won't be much else about it to enjoy. Other than the thought that they're historic times. Blue against red... sideshow bullshit to pit workers (essentially everyone other than the elites) against each other when circuses and bread fails to pacify them.

[@richdobbs6595]

@@flutingaround You are missing the point if you think that city workers not being able to buy in the town where they work would suppress the value of real estate. That is a feature, not a bug, to the equity owners. Those folks are the "liftees" of Boulder. As long as those open space parks exist between Boulder and Louisville and the land between US36 and 119 is developed only slowly, prices in Boulder will not tank. Prices in Lafayette, Erie, Louisville, Niwot will increase, so by the time the land is developed, it will not put substantial downward pressure on real estate.

[@jimmclain3093]

At least for Northern Colorado we're 4 years behind on building houses to support the demand. It might level off but the markets here have time to respond if need be.

[@sbritton1313]

We are building more and more multi family residential places... And that's what n. Co. Is banking on...

[@Dinini]

Plus in the largest crash in history noco lost no value

[@richdobbs6595]

This analysis misses a lot of macro-economic trends. First, the money supply has increased a lot, and if house prices decrease to any significant extent, the Federal Reserve will reinflate to restore house prices. It will do this until inflation explodes. Second, there has been a short fall in house construction versus population for decades. Compared to the pre-1990 situation, younger folks are not living in single family homes to nearly the same extent. Third, on a percentage basis, the premium for the Colorado metro areas has actually decreased. The prices of an area like Boulder are not supported by the average wage earner. The average wage earner either bought earlier or isn't able to buy now or save to buy in the future. The prices in Boulder are supported by equity brought in from well off immigrants from California or China, or the income of the top earners. Boulder has limited immigration because lack of available housing supply and expense. If prices softened at all, there would be more folks that commute to Boulder from Denver to fill the gap. There could be a housing crash, perhaps based on national policies causing a crisis in confidence, but it won't be because of a slight decrease in the ratio of immigrants to building starts.

[@punker4Real]

it does not matter if hyper inflation happens the only real winners will be the people who bought silver and gold.. while you have a lot of digital toilet paper (which will end up getting seized to deal with the hyper inflation issue )

[@tysonreuter5788]

Silver and gold? Both of those have underperformed real estate over the last couple decades, you can’t live inside gold or rent it out for regular income.

[@travisfoster4054]

Was looking for something like this. Home affordability on a monthly payment is all that matters when it comes to real estate. People don’t buy houses based on the price, they buy them based on the monthly payment, similar to a car. Avg wage for a single professional is 62k so married on AVERAGE people are earning 120k/year, if they say that 43% can go towards housing that means this couple could afford 4300/mo and because taxes are so cheap here that puts them in over a million dollar home, with 20% down and interest rate around 3%. I don’t see a crash on the horizon unless lending rates go way up.

[@wydracon]

@@tysonreuter5788 where are you getting your data? Gold 20 years ago was ~$300 per ounce. It's now $1800, so it went up 6x. Real estate, even if it went up that much in the market you invested in, can you say you didn't have to do repairs like fix a roof, new a/c, plumbing, etc? In the last 20 years, a nice piece of gold bullion hasn't tarnished even 0.1 percent.

[@robertstalnaker5728]

Agreed. Apparently the millennials aren’t interested in home ownership but in “experiences” instead. 🙄

[@tomstevens7452]

The flaw in the housing shortage vs glut chart is that the state fell so far behind from 2008-2011 that we are still 5-7 years away from catching up. The gap in those years equates to still being close to 150,000 homes short. Since 2006 there are only 3 years where permits outpaced migration. And the 3 years inquestion add up to less than 17,000 more permits than people migrating. The pandemic does not creat this situation the issue happened after the housing issues of 2008 when builders went out of business. Nothing in this video addresses the fact that Denver was short 150,000 homes over a 6 years span. 2 years of permit above migration doesn't fix that.

[@Wire-Free]

Great observation... Bidding above asking will continue for the next couple of years IMHO... Especially in Denver, Boulder (Central front range metros)

[@Johnny-Utah-91]

"Denver was short 150,000 homes over a 6 years span" oh yeah what's the source for that info?

[@adventures-w-z]

The video is a red herring and completely misleading. This guy's keeps making videos of house crash in every metro. There is no crash coming. He is just making KZbin money by yelling fire.

[@chrisakins692]

Great video. Im currently searching for a home in the Denver area, and I have noticed pricing moving downward over the past 2 months. I will buy now if I find the "right home, but these trends, supported by the data you present in the video, have removed some of the stress and urgency.

[@tony21340]

I have been a Realtor for 30 years. I have been through 3 market swings. I agree 100% with what you are saying. A few years ago 75% homes I sold would buy another home in Colorado. Now 75% of my sellers are moving out of state.

[@julio1982]

People are moving out but aren’t even more people moving in? This keeps up the demand for housing

[@carrimycalifor]

I would love to see an updated video on this now that it’s about a year later!!!!!

[@jdogwar]

Can’t speak for other industries but tech salaries out here can support the current prices. I moved here 5 years ago after college making 70k with no debt, 5 years later I’m making 160k and feel a house is still attainable. Many of my colleagues have had no issues buying homes over the past couple of years. Would welcome a correction though if all statements in this video hold true.

[@h3ll0124]

Good for you man. What specific field in tech are you in and how many years did study if you done mind me asking?

[@jdogwar]

@@h3ll0124 software engineering. Did the standard 4 year degree and got a B.S. in computer engineering

[@donkiko6708]

@@jdogwar at least you able to afford a house and not live in the hood apartments.

[@beddythecorgi4269]

This is why it's a k shaped "recovery". You are employed but dozens are not working. Only 42% of people have a college degree. Of that 42 only 6% have engineering degrees. So if you are asking your schoolmates with similar degree how they are doing and all of you are making stem level salary welll....yup that is not representative of the norm. Making 160k puts you in likely the top 5% of earners. This is exactly why going into stem fields is a wise move.

[@jdogwar]

@@beddythecorgi4269 this is a fair point. My viewpoint is limited. I can only speak for people in the stem world

[@Namoari941]

Meanwhile up north in Canadian province of Ontario, the prices of an average house there have gone up 200% (doubled) in just …..10 months…

[@Pound_Shift]

Crazy

[@MisterRogersHomes]

Same here in the Valley of the Sun (Arizona).

[@ErickaWilliamsCC]

foreign buyers are 80% of market

[@Sjapilot]

Colorado Springs resident here. Ok so the market may have a cooling force from looking at the outside. However there are 3 forces that I believe will cause continued growth: 1: 2020 forced most desk workers to work from home and that is here to stay. Estimates I’ve heard talk about 15-20% permanent shift of office work to work from home which drives demand for a home and home office. 2: Denverites that still want to live in Colorado tend to choose outlier towns like Colorado Springs and Ft Collins to live in if work permits because of lower living expenses, and 3: Colorado Springs has 4 military bases, one of which is slated to add 20,000 more personnel. That has a magnifying effect on the rest of the city because of families and supporting jobs.

[@ReventureConsulting]

Thanks for the comment! Sounds like Colorado Springs will gain at Denver's expense?

[@Sjapilot]

@@ReventureConsulting I don't think so. They have a symbiotic relationship. Denver's hot market has driven the market in Colorado Springs. If Denver's market slows, I see it as a boon to the younger and less wealthy folks who might actually have a shot at ownership instead of perpetually renting. For those with investment money, yes, they will likely look elsewhere. (Maybe Pueblo?)

[@opwblade6952]

I just moved out of the Denver Metro about a month ago, and getting a Uhaul was pretty difficult. I asked the Uhaul staff why, and they said it's because a lot of people are moving out. What the staff said makes sense now.

[@opwblade6952]

@baizuo true, however the staff specifically stated moving out of state.

[@Sister-Kate]

We just moved last week and Penske told us the ratio of out of CO vs in was 20:1.

[@investfourmore]

Something else to consider is that a water tap in Colorado costs $80k in COlorado and about $2k in Miami. Interest rates have gone down so much that housing is actually more affordable not than prior to the last crash.

[@ReventureConsulting]

Thanks for the comment, Mark! Interesting point on the water taps. Something to consider is that "low rates mean affordable mortgage payments" was an "anti-crash" argument that was made prior to both the 2007 and 1991 Housing Crashes.

[@investfourmore]

@@ReventureConsulting THere was not a 1991 housing crash though.... IN fact, there have only been 4 crashes in the history of the US if you consider at least a 20% decline in prices.

[@investfourmore]

@@ReventureConsulting Just because it was an argument before does not mean it is not valid now. We were talking about affordability. If you look at historic rates, they were 18% in the early 1980s and that did not cause crash either. FYI rates prior to 1991 were 9 to 10 %

[@joycebarnett6035]

Other tubers are jealous of you because your the only one that is smart and have a lot to offer thank God for your Chanel the other guys can eat their hearts out. You get down to business.

[@mattbashara6863]

Something people don't talk enough about and I wish there were a way to track it but millions of business owners got PPP money over the past year and many didn't need it. I know some restaurant owners that needed it for sure but I also know lots of business owners who didn't but still got it and didn't need it and they used the money to buy investment property. I have 2 friends that one owns a veterinary practice and the other a pediatric dental office, both decent sized operations and together received over $1m in forgiven PPP money and neither needed a dime. They both bought investment property with the money.

[@caponefojo2942]

You are 100% correct. It’s quite unbelievable how this hasn’t gotten more attention.

[@nathanpeters9515]

I know about a family that did the same thing. It was quite common and it gets no coverage. The answer I got when I asked why they did it was “you’ve got to get it while you can; someone else will do it if I don’t”.

[@lilshaz8378]

I wonder if within a few years audits will show what the $ was actually used for. PPL was to help EEs stay on the payroll while the business was shuttered. UEI started checking unemployment claims and finding alot of false filings. Eventually this will all match up together.

[@MisterBREW]

I also know people like that, some are friends of mine. Same people who bitch and cry that people don't want to come back to work for $12/hour and rather collect unemployment. When I point the irony out they just stare at me like idiots...

[@morharmar]

You will be seeing those 2 friends going to jail.

[@vanschliestett8641]

Prices are a "Mile higher" than US !

[@azimovsprophet1616]

To what extent do you think that corporations, private equity funds and banks buying up massive amounts of single family homes, including entire neighborhoods in cash. Than turning them into rental properties is having on housing prices?

[@adamroe3559]

One thing to consider about Colorado house prices is that property taxes is a lot lower than other states. This makes the monthly payment less than a payment on a house in other states. it's not uncommon for a 600k house in Colorado to have a 2k property tax payment. The same house in Texas would have over a 10k payment. I think this has contributed to higher priced houses. This trend will likely fade over the next few years with changing tax policy. The other thing to consider is that people are making a lot of money on short term rentals. I heard a story of someone with a 2 bedroom unit over a garage making 6k per month. I would like to see prices in Denver come down but I am not sure I am that lucky :)

[@DJR5280]

That's quickly changing as money hungry counties are re assessing property values earlier and earlier to get more money in taxes. The house I'm in is at $6k in property taxes now

[@hilaryhilaryhilary]

Please do Oregon next!!! I love your videos and the way that you present data 💖

[@earlystrings1]

Boulder is way more expensive than you indicated. I’ve seen data putting the median house price around $850k. It’s also a supply constrained market due to local anti-growth laws. It’s beautiful, safe, healthy, great schools, and supply constrained. Trust me, the prices aren’t coming down.

[@ConsolidatedPBY]

And Boulder is still waiting for its first black family to move in, scheduled for 2027. LOL

[@theflyer68]

Wish I had never voted to legalize, has been a complete cancer to the state

[@ReventureConsulting]

It's interesting to see the political direction that legalized states have gone in...

[@perro7183]

Agreed. Everything changed around here after 2012, mostly for the worse

[@julio1982]

Can you say more about this?

[@TheRustyLM]

@@julio1982 I’m in portland. We decriminalized use & possession of all drugs here last year. Portland is a complete disaster now. Strung out homeless, needles, graffiti, skyrocketing crime. I’m looking to leave in 8 mos, when my lease is up.

[@julio1982]

@@TheRustyLM wow interesting thanks for sharing

[@jakespede8522]

Good data preparation and hard work. Thanks Nick.

[@tmm1000]

Can you provide an updated market forecast for Colorado?

[@lonnroberts7438]

Colorado has gotten ruined by so many moving here. I wont be surprised if many move away because of how crappy its gotten.

[@cuckoosoup1746]

Without knowing the distribution, averages can be deceptive. Also, normalizing for inflation would give a more accurate comparison. Thanks for the information and analysis.

[@ReventureConsulting]

Thanks for the comment James! Note that Wages account for inflation.

[@killak240sx]

We bought our home in Colorado Springs in 2016 for $142,000. Right now we can sell anywhere between $320 to 345, which sounds great but all our profits would be going into buying a new home. Its not only the housing market that has gone up, every single one of our other expenses has also, it's just getting too expensive to live here and my wife and I have lived here for almost 10 years.

[@johncazares2645]

Thank you for covering Colorado

[@carlobremski9427]

Frisco, Colorado median house price is over $1 million. Housing is so expensive now that service workers can't afford to live anywhere near there, and they can't commute because it's in the mountains surrounded by other expensive mountain towns. Companies and the local government are now talking about building block housing for the service workers. Sound familiar?

[@ReventureConsulting]

Thanks for the insight Carl! Government block housing does sound familiar. Ultimately I suspect the prices being at these levels above wages will not be sustainable.

[@EatMyOats]

These take so much time. Maybe in the future they could consider Boxabl dot com - this a a new beyond 3D housing solution

[@GetH0NEY]

Sounds like Feudalism.

[@jaredhill7230]

I love your stuff, but seems to me fundamentals have no roll in economics when a centralized power has limitless control of currency supply. If the housing market crashes it will be because government and society has crashed as well. This little to do with average citizens and their ability to play in the market. Somebody prove me wrong.

[@philmarsh7723]

It seems to me that CA housing cost history shows that house prices can go up regardless of median income, etc... as in go up to the moon. All the market cares about is whether or not there are enough rich people to pay those exorbitant prices. And it seems to be the case if you have a healthy economy.

[@MrChow408]

Can you analyze the Bay Area? Sf, oakland, San Jose, etc.

[@garrydrussell]

There is substantially less inventory in Denver metro this year compared to 2020. Also many municipalities have substantially lowered the number of building permits they will issue because they do not have the staff. We live N.E of Denver in an area with lots of new home construction. One builder opened a new section with 75 lots and every lot was sold within 60 days. There have been several new apartment complexes open in the last 2 years that quickly hit 100% occupancy. Homes sell in my neighborhood in a week or less with bidding wars selling above listing price.

[@ReventureConsulting]

Thanks for the comment Garry! The thing to note is that the situation you are seeing in Denver is not unique to Denver's. It's also happening in Los Angeles, Salt Lake City, Nashville, and the rest of the world.

[@stevenmilgrom8589]

Excessive home prices is not just a U.S. phenomenon. In my Prague neighborhood prices approximate $500 psf while the average take home salary is $1,600! Only Paris is relatively more unaffordable in Europe. But mortgage rates fell last month as low as 1.91%! This is a major cause.

[@AJourneyOfYourSoul]

Americans are spoiled. Most Americans have zero clue that from a median price to income ratio, the USA has some of the cheapest real estate in the world.

[@JM-kn9dh]

@@AJourneyOfYourSoul why dont you enlighten us then

[@AJourneyOfYourSoul]

@@JM-kn9dh Just go look at median family income to median housing price ratios all over the world for different countries. Here is a list I just pulled off a website. Look where the USA is, fifth from the bottom. Papua New Guinea 181.6 Congo 153.16 Barbados 133.77 Solomon Islands 106.1 Cameroon 98.58 Gambia 87.61 Mali 62.5 Uganda 59.4 Rwanda 56.7 Senegal 53.65 Maldives 50.77 Bhutan 50.57 Vietnam 40.91 China 40.8 Ghana 40.67 Madagascar 38.21 Zimbabwe 36.94 El Salvador 36.34 Algeria 32.38 Venezuela 32.33 Tajikistan 32.05 Myanmar 31.13 Thailand 29.23 Indonesia 28.77 Philippines 26.91 Peru 26.73 Kenya 26.7 Swaziland 26.43 Nepal 26.19 Iran 25.95 Seychelles 25.91 Mauritius 25.41 Romania 24.97 Morocco 24.42 Colombia 23.67 Ethiopia 23.6 Cambodia 23.48 Brazil 23.43 Croatia 23.16 Argentina 22.72 Ukraine 22.49 Italy 21.86 Mongolia 21.79 Ecuador 21.22 Azerbaijan 20.76 Slovenia 20.7 Moldova 20.23 Japan 19.85 Portugal 19.45 Sri Lanka 19.41 Austria 19.36 Belarus 19.19 Armenia 19.14 Albania 19.09 Lebanon 19.08 Israel 18.92 Pakistan 18.76 Sweden 18.61 Serbia 18.56 Botswana 18.36 Spain 18.1 Georgia 18.05 Angola 17.8 Uzbekistan 17.63 Kyrgyz Republic 17.57 Lao People's Democratic Republic 17.4 South Korea 17.16 Trinidad and Tobago 16.79 Tunisia 16.55 Greece 16.37 Burundi 16.29 Dominican Republic 16.16 Germany 15.93 Kazakhstan 15.68 Macedonia 15.59 Uruguay 15.59 Australia 15.49 France 15.47 Bangladesh 15.45 Russian Federation 15.16 Egypt 15.11 Panama 15.09 Chile 14.98 Lithuania 14.93 Turkmenistan 14.92 Latvia 14.5 Poland 14.28 Estonia 14.1 India 14.06 Greenland 13.74 Finland 13.71 United Kingdom 13.13 United Arab Emirates 13 Bolivia 12.92 Switzerland 12.6 Bosnia and Herzegovina 12.51 Czech Republic 12.47 Nigeria 12.43 Norway 12.38 Cuba 12.13 Belgium 12.02 Denmark 11.98 Malta 11.97 Netherlands 11.69 Dominica 11.6 Yemen 11.46 Slovakia 11.33 New Caledonia 11.13 Malaysia 11.08 Paraguay 10.97 Cyprus 10.83 Iceland 10.15 Guatemala 9.99 Ireland 9.9 Jordan 9.88 Iraq 9.85 Bulgaria 9.64 Namibia 9.56 New Zealand 9.46 Hungary 9.43 Turkey 9 Fiji 8.9 Nicaragua 8.79 Mexico 8.4 Belize 8.24 Taiwan 7.92 Costa Rica 7.79 Canada 7.59 Qatar 7.52 Kuwait 5.63 South Africa 5.49 Jamaica 5.03 Brunei Darussalam 4.79 Honduras 4.68 United States of America 4.18 Bahamas 3.42 Oman 3.41 Saudi Arabia 3.02 Suriname 1.87

[@toeachitsown2050]

@@AJourneyOfYourSoul how do people in these countries afford it long term?

[@AJourneyOfYourSoul]

@@toeachitsown2050 Multiple generations of family live together, all saving their money together and once a house is finally bought, they NEVER sell it, passing it down the family line. Also, the countries that are still in the early stages of developing, lots of families build their own homes. In many westernized countries outside of North America, they have very cheap rates. For example, Sweden is 1.5% for a 30 year loan. And other countries, like Japan, offer 100 year term loans, multi generation loans.

[@williamwendt8304]

Cycles happen. I hear so many people argue about dates they will occur, or amounts that it will change...but it always happens. 2008, 1999, 1986, mid 1970s. My father bought a new rental every 8-10 years. "Son, every 10-15 years there is an up and a down." What's changed since his days? I think it has become more speculative, which simply makes the ups and downs more aggressive. Real estate is not a get rich scheme. It is a replacement to the 401k process, or the older pension programs if used for buy and hold - landlord. AirBnB - not my thing, but that's another option.

[@BWreSlippySlope]

What are your thoughts on holding a house for 5 years when the rent minus cost would not equal the sales gain you could make today? I could move now and purchase a house in a cheaper neighborhood and rent at three times the cost of the house mortgage I am in now. It still would not equal the gain selling now when prices are high, and investing the difference and waiting for housing prices to fall, when population ages dwindle. Right now the largest ownerships of owner-occupied houses are people over 65.

[@williamwendt8304]

@@BWreSlippySlope If its your house, understand that the neighborhood, crime, and environment matter a lot. While true of a rental as well, its not as important as "doing the math." I don't invest when my down payment of 20% doesn't net me income (90% rent (vacancy factor - mortgage, insurance, HOA). The math tells me not to buy for the last 3 years. Even though our Phoenix neighborhoods are up 60% in rent since 2018, the incomes are not increasing and I fear that won't hold in the long run. Ultimately rent is related to mortgage prices, which is what I follow a lot (its not perfect science). If prices on homes reduce, rents are likely to drop as well. If you want to downsize and buy a new home, I think we are about to see a buyers market emerging. Honestly I expected it a year ago.

[@Ospery157]

I live in Denver (Glendale area) and I can personally tell you that homes prices are completely out of touch with incomes. In fact, when I was at a 24 hours fitness last Saturday a friend told me about a townhouse in Lowry that sold for $438,000. Simply nuts!!! I don't know how much longer we can sustain this cycle. But, holding down interest rates to record lows is causing all forms of side effects in the economy and inflation.

[@AlexZ-lc6nl]

Hi, drive by Central Park. Town homes that are 2 bed 1 bath 1.5 garage homes are going for 500K and construction seems to continue….looking a central parks property history in 2017/2018 those type of townhomes we’re going for 165-210K with the median being 198K for a 3 bed 2 car 2 bath town home…..it is so insane even the affordable housing is not affordable. They have huge signs saying “new affordable community” and when you see the price tag you almost fall off your chair……Denver seems to be in the brink of collapse. Meanwhile my social media and everywhere you look there is real state agents wanting you to buy a new home and sell your old home for more than it’s worth…..it’s all insanity. If you own a home, stay in your home.

[@nonexvcghdfgh]

It's the result of commieforinians moving there! Enjoy !

[@r.d.9399]

Insanity! These price increases need to be stopped.

[@nonexvcghdfgh]

@@r.d.9399 you sound like a lefty !!!🤣🤣🤣🤣 you know how you stop it ? Stop paying the price! We did. Moved to a different state we now live on a golf course and paid cash ! Fk cal-orado !!!

[@andrewevans5750]

Your ma is off. Fairplay/Hartsel are not part of Denver. You need to stop at the Evergreen/Connifer which lines up with the Western edge of CO Springs. Cripple Creek is not in Co Springs either. Also, the median price in Boulder is 899k, CO Springs is 430k, Denver is 603k, Ft Collins is 495k. Average price in boulder topped $1 million.

[@ReventureConsulting]

The data (and maps) in this video referenced the metro areas for each, which are based on US Census County-level groupings.

[@engmahmoudghareeb]

Nick, that is a great work thanks for the data Would be great if we can add to migration data the ppl that already live in Denver trying to buy houses and the investors buying in Denver and they are not moving there Also shoukd we take into consideration that permitted construction will take a year or year and half to be ready

[@steamboat1850]

People are moving from the metro areas of CO to the rural areas in droves. We don’t have the infrastructure for that. Not good.

[@darioebhard1477]

@Cody Bahr Not yet. You will when you factor in how much everything is going to cost.

[@darioebhard1477]

Have you look to see what's happening to the commercial rea estate sector? And when inflation is going to be more than 25% (how much food stamp is going up), you don't think that will have an impact on affordability?

[@djboughton6595]

Thanks for your great work and info. Could you do a video on Montana and Idaho? Thanks!!!!

[@geraldcroft9020]

Utah

[@vaeell6532]

Born there, left last year because it turned to shit. Extremely high COL, homeless are EVERYWHERE, not to mention it has the worst drivers i've ever seen. I saw at least 10 accidents, 1 fatal on i25 in 2019. Didn't used to be that way.

[@acsh81]

Great work and I am a big fan. But, the Denver metro population is growing. Net migration is not the only factor.

[@gilbertgoetz2287]

I commend the value you are trying to add but I disagree with how you are representing Denver's population change. It is not "plummeting". Rather, it's rate of growth has been slowing. Comparing Denver's rate of growth to the national average would enhance the validity of your conclusions (and possibly change them). Also, regarding the early chart showing how average housing prices have increased year - over - year in the four metro areas, if you expressed the data as percentage changes to the national average, your result would show a very different result. Again, I appreciate what you are doing

[@Johnny-Utah-91]

​@Cody Bahr So why don't you present your own data and arguments as to why he's wrong and refute his points? What is he wrong about? Lumber prices? Moratorium ending? Banks tightening loan requirements? Please post a link to your youtube channel where you tell us why this guy is all wrong. Can't wait!!

[@Johnny-Utah-91]

@Cody Bahr Let's see what happens once the end of the rent/mortgage moratorium is in full effect and people either have to start paying again or sell/find a new place to live. Banks have started to be cautious about lending. The fact that people are skipping appraisals and home inspections is unprecedented. Low interest rates are smoke and mirrors when people are overpaying by $100-200K. Once they come down from the high of buying overpriced properties and the RE market gets flooded by people who can't pay anymore or have buyer's remorse we shall see. I don't think Nick is fearmongering. Is he wrong about Boise, ID? He did a video on cities that haven't experienced this so-called housing boom such as Omaha, NE. Check the data and see for yourself, I did.

[@paulweeldreyer7457]

Ya I live on the Front Range. I don't know the numbers but it doesn't seem like we're losing population. Slower growth, sure, but we were growing so fast for the past ten years, it would have been hard to keep up that pace. Housing and rental prices have obviously gone way up, but people keep buying houses. Our economy is still pretty good, so while the prices are probably too high, there are enough good jobs that I'm not sure we'll see a crash.

[@tylerbrown4483]

@@Johnny-Utah-91 This guy is the king of specious. I’ve watched a bunch of his videos now and I can’t tell if he’s daft or if he’s intentionally not addressing the massive holes in his line. But one thing is for sure: he is sure adept at using cherry-picked data and big words to trick people into thinking he adds any real value. People are primed for a housing crash because the last one is still so fresh in memory, but the fact is that these are entirely different scenarios. This guy uses that presupposition in the minds of Americans to gain views by telling them what they want to hear.

[@Johnny-Utah-91]

@@tylerbrown4483 Again, please present your own data and analysis on the housing market. Yes this isn't 2008, we got it, but that doesn't mean a big correction can't occur in the next 6 months to a year. What are some of the holes in these videos? Talking about specious , there is a guy on youtube ,Jeb Smith who says the RE market will shoot up again in October :) Only time will tell but I still remember 2008 when some people said it wasn't a bubble until it was.

[@jttheat5445]

Thanks for the video man. Great work. I'm a big fan of you sharing the facts. Could you give us a comparison like you did at the end comparing income to housing prices to determine the best and worst cities to invest in?

[@darrellray5569]

The one metric you didn't take into consideration is that not all growth comes from transplants. You have to take into consideration organic growth. Colorado has the 2nd highest percentage of college graduates in the country, so as those graduates finish college, they move into the workforce and home buying markets, and are competing with the transplants for those available homes. That is a pretty large number- far higher than the amount of permits being offered for new-builds. When you take this into account, I believe we will continue to run a housing deficit for the foreseeable future.

[@JJ-JessicaJones]

Unfortunately natives are moving out of colorado due to the prices :-(

[@darioebhard1477]

Go to downtown. Homeless in every street corner. Same with most highway ramps

[@richardweidner1625]

thanks so much for doing colorado, you're awesome

[@stuartmalin661]

Nick - a very interesting presentation would be to identify areas that are good opportunities for relocating to based on the chance for future appreciation rather than future crash!

[@reza2251]

Great idea. We want to get out of San Diego. So many markets to choose from!

[@harleyb.birdwhisperer]

The mantra used to be ‘Follow the jobs’. Now, many jobs can be done remotely. Climate change is going to make more places uninhabitable, but so far, proximity to the ocean is a moderator - that often comes with exposure to storms and tsunamis (the Pacific coast north of Cape Mendocino is due for a magnitude 9 followed by a BIG wave.). What’s left that isn’t already packed solid? Some of the area around Salinas and south to Gonzales or Greenfield. A lot of that is farmland - Salinas river valley, but the west side slopes up to the backside of Big Sur, and could be an option. Good hunting.

[@heathercarlson3604]

Can you please do the same analysis for Charlotte,NC!!!

[@DECIFERTHIS09]

Should of bought a house there in 2013 when I lived there. Now I'm trying to move back and you can barely get a 3/2 fixer upper for 380k when that used to be the nice houses near fountain. If you can find the land its cheaper too build a new home.

[@grizzstud22]

Denver is at capacity, thats why its slowing, Its spilling into Norco and Southern Colorado like the Springs

[@freethepeople1395]

I lived in Denver from 2001-2019...that spike in 2014-15 is thanks to the legalization of marijuana sales in the state. The mass migration to the state has forever changed the city, some good, but unfortunately mostly horrible.

[@olesyadegraaf5705]

Golden words!!! Why nobody pays attention at this factor?

[@Pound_Shift]

Destroyed permanently

[@simpletraveler86]

You're not taking into account that the 40k people that moved to Denver in 2015 could also just be moving to the burbs in the following years. These numbers are still fine. I work in Denver County and homes are in pending status within the first weekend still. There will be corrections and ebbs and flow but the market isn't gonna tank. The economy here is more diversified than its ever been and with new large scale projects on the horizon I believe Denver will continue to be desirable.

[@simpletraveler86]

@Cody Bahr yup. click bait ass titles

[@Nystromj1]

Why would you use national averages as a comparison. By that measure, California real estate should have crashed years or decades ago as it has been much more expensive than the national average. It didn't, so that is not a legitimate rationale. It should also be noted that Boulder was one of only a few locations that didn't suffer at all during the 08/09 decline. It would seem that by your rationale, almost every city with real estate higher than the national average, should see a major decline.

[@ams1890]

Boulder is so beautiful. I wish I could live there!

[@jercasgav]

I would say the difference is wages. In California the wages are more...take nursing for example...much higher wages and unionized in Cali, but in Denver the wages are abysmal compared to cost of living. California also has more of a marketable environment with nicer weather and ocean and mountains too. There's also greater economic activity being that Cali is a major transit port among many other industries. Denver/Boulder do not have as many good paying industries overall.

[@telosmonos_gustavo]

Very insightful video, thanks!!! Makes me wonder what lies ahead for the Austin Texas market.

[@GoGo-tk8ui]

Just renewed my rent in Denver area for one another year, waiting for housing price to be lower. I hope it will happen as he explained here.

[@JanetAFL]

Same here!

[@DJR5280]

It's nuts. My Mother was renting a 2 bed in Broomfield that was just built in 2019. She was the first tenant in her unit. Her rent was $1900 a month. 2 years later they now want $3k for the same apartment.

[@arkzyFn8]

@@DJR5280 its amazing because its like this in Tampa FL. These are CA and HI type prices. Its wild.

[@Gogalen789]

Air quality index for the front range has decreased considerably over the last few decades.

[@Andersonpodiatrycenter]

Considering purchasing second home in steamboat springs . Do you see this same type of downward trend in that market ?

[@ReventureConsulting]

Vacation areas with a lot of 2nd homes tend to have more risk, because when a downturn hits, it's much easier for people to decide to sell. With that said - if your intention is to hold property for a while and use it for enjoyment rather than as investment it could still be a wise move.

[@Mark65845]

I live in Denver, and I visit lots of neighborhoods on a regular basis for my work; I see very few for sale signs.

[@wydracon]

@C Z can you point me to one of his videos he did a year ago where he said Denver was going to crash? And in said video did he give a date to when it was going to crash as you purport?

[@investfourmore]

There has been low inventory in Colorado for more than 5 years. It is not something new that just popped up after the pandemic. I see you saying more are migrating but are you factoring in the years and years of too little building and a lot of migration.

[@ReventureConsulting]

Active inventory is a tricky metric, because it change on a DIME. After all - inventory got cut in half over nine months. It could also double in the next nine months. In the end the fundamentals dictated by building, migration, and wages will provide the support (or not) for prices.

[@investfourmore]

@@ReventureConsulting A doubling in 9 months would put us back to what we had before covid where we still had rising prices, and prices rising pretty quickly. It would be interesting to see what inventory was in 2000 to 2010. Supply and demand is much more than building permits and migration. COlorado has seen rising prices since 2012 it is not something new since covid came around. I am also curious where you get the wage info for Boulder? Boulder wages are much higher than the surrounding towns from everything I have seen. I saw one source saying the average salary is 76k

[@OldAssSax]

@@investfourmore Also, to say that Colorado (Front Range) really didn't get hit in the last downturn (07-12) is a bit of a misnomer. The bottom end of the market, especially Adams/Arapahoe/Weld counties got hit hard (40%+ decline).

[@investfourmore]

@@OldAssSax Very true! Weld county lead the nation in foreclosures in 2006.

[@robertmclaughlin9520]

My experience in 2018 was that homes in CS sold in 3 to 5 days with sales price $5k to $10k above asking price. Prices through the roof in 2020 and 2021, that was until mid June 2021. I noticed in June 2021 that, although home prices are out of control, the time to sell has increased to around 2 weeks and usually having to be reduced to sell. July rolled around and the same thing happened . . . Neighborhood prices at inflated values resulting in prices being reduced and properties selling in about 3 weeks: EXAMPLE: Neighbor Listed at $595k, Reduced to $580 after 2 weeks, Reduced to $550 and sold after 3 weeks. I expect this trend to continue and see housing prices drop substantially through 2022. Video indicates CS with 25% increase in prices, yet what I have seen since June is an approximate 18% decrease of over inflated properties (25%), to sell. I guess you could say that the market is normalizing to a 7% increase from last year?

[@LW-fp9qj]

I saw it happened in other states.

[@LW-fp9qj]

@Cody Bahr Maybe no shortage. But people just don't want to pay the crazy price right now. Let's wait awhile to see whether it will continue or not.

[@martinphilippe246]

I think the very biggest bubble in Residential real estate is the Metro Toronto area. You should do an episode on that!

[@srands2811]

Instead of using value/earnings ratio, shouldn’t you use mortgage payment/earnings ratio? This would account for interest rate fluctuations.

[@Matt369oi]

Great video on the state of Colorado I think it was pretty accurate on all the major Metro areas except for Denver, I think it's a little higher than what the data shows. Reason I say this is because I live in Denver.

[@davidcarter137]

I'm looking for a house in Colorado Springs; I sense the market is about to collapse. Sellers are almost routinely cutting prices.

[@ReventureConsulting]

Thanks for the comment, David! Colorado Springs looks very bubbly right now. Keep me posted on how things look.

[@gygw]

people move hear from crappy states because of taxes and politics and then elect the same type of people and then wonder why this state is turning to SHIT lived here 50 plus years

[@robertstalnaker5728]

I have to say I lucked out during ALL of Denver’s notorious cyclical real estate rises and falls. I’ve bought and sold 4 homes here always selling for much higher than I bought. I just sold my house in Congress park for nearly 300k over what I paid for it. I’ve always maintained a small mortgage but now don’t have one for the new build I have . U can survive and even thrive in this climate u just have to be willing to forgo the “Must haves” of hgtv. (stainless, granite, etc) at first. U add those after u move into the worst house in the nicest neighborhood. U have to pay attention to the up and coming neighborhoods and pounce. I realize I’m the exception and not the rule but everything everywhere is getting expensive. It isn’t going to get better. Work harder, stop buying things and save save save.

[@gingerlandry9399]

Many more houses under 450 are popping up now compared with just 3 months ago

[@ReventureConsulting]

Good to see!

[@GuadalupePerez-yc9kr]

Nick, excellent, excellent content, Can you please do a segment over Florida, you are extremely accurate and I like your content because I think the numbers never lie. Circumstances on 2020 have disrupted the market on an unnatural way because of the pandemic and the government intervention have altered the economy normal development. Thank you

[@richardt1792]

I have only been to Denver once but one thing I did not get was high housing prices in a city that is surrounded by thousands of miles of vacant land. I can see high prices in urban cities with nowhere to build but within a few miles of Denver there is nothing but flat land, easy to develop. P.S., after a couple of days in Denver, I had seen all of the destinations. I was there for a week and ran out of things to do.

[@millennialmadness5138]

Yeah, you don’t know what you’re talking about. I’ve lived in Colorado my whole life, and I haven’t seen everything.

[@dennistyler8746]

@@millennialmadness5138 I'm sure he didn't see everything in a week in the whole state but he's right about Denver way over inflated...

[@richardt1792]

@@dennistyler8746 Correct, I am talking about just Denver, I went to all the government buildings, museums, zoo, the shopping and restaurant district. Nice place to visit, wouldn't want to live there. Places like LA and NYC have an endless array of things to do and they are every changing. Traffic is a nightmare but there is a reason why 10 million people want to live in these cities.

[@gregorriusadolphus2729]

Denver is very boring; I explored the city extensively the first year I was here and was underwhelmed. The proximity to mountains and nature are the real draws, here. But I had that same question too, about all the open space. There are actually restrictions that many suburbs have on preserving open space..I guess for the mountain views that you can't really see half the time due to air pollution. I also wonder how these restrictive zoning policies play into how fast and how high the house prices are. I know Boulder had a zero-growth initiative for awhile, or at least they were severely restricting how many new housing units were built. The Denver suburb of Lakewood just enacted tight restrictions on new housing permits, too.

[@darioebhard1477]

Unless you are into the outdoors, it's nothing special. With some many people moved here, it is no longer enjoyable going to these places. If there is an accident you can wait up to 5 hours in one lane traffic. Most of my friends go mid week when everyone is at work.

[@sharrison826]

Great video, thank you!

[@ReventureConsulting]

Thanks for watching and commenting, Scott!

[@richdobbs6595]

Its a joke that the Denver Metro Area includes Fairplay. Look at a satellite view to see how low the population density is in South Park. I'm sure there are folks in Grant that commute into Denver, but the small amount of land available along 285 keeps the numbers down.

[@raoulduke3059]

Yeah including counties like Park and Clear Creek into the Denver metro makes sense for some purposes (like how most people from Grant or Idaho Springs probably head into Denver for things they can't get locally; it's their "default metropolis" so to speak) but equating the housing market in Aurora to the housing market in Bailey is definitely a stretch. Housing is far less available, these homes can come with far larger property areas, and they span a huge gap between trailer parks and million dollar mansions.

[@leonardbreau8928]

I think some areas like Denver & Colorado Springs will fare better than other areas in a housing downturn. Jobs & a high quality of life will always be an attraction.

[@vaeell6532]

@@sportsfan1717 and homelessness. A hobo woke me up at 6am this morning yelling at who the fuck knows what.

[@darioebhard1477]

If you have money you can have high quality of life anywhere.

[@DJ_QUANT]

I live in Denver. I’ve bought/sold hundreds of rental units over the past two decades here. The market makes no sense at current valuations. I’m now completely out of the market and ready for the crash!

[@setfreemiss]

I hope you are correct. I liive in Denver and have given up on being able to purchase a home. I will have to move out of state if the market doesn't come down in the next year or 2.

[@jercasgav]

Totally, we moved to Pueblo and are seeing values rise here a ton as even Co Springs is getting overpriced now too like Denver. El Paso county surpassed Denver County as the most populous county in the state of Colorado recently. Denver's showing signs of tipping in many different ways.

[@DJR5280]

@@jercasgav Did it? I thought Denver County was still in top

[@kingssing]

Don't purchase you will be sorry Prices like this are over double the value . It will crash and crash big and happen fast

[@kingssing]

Good smart move

[@parvconsulting4463]

We left Denver in May/June (Highlands Ranch). House went under contract in early May or early April. “Out of the pot and into the frying pan”…we are in Franklin TN now which seems to be lagging the CO markets by 3-6 months in trends and hardly any new builds at all. Curious what will drive Franklin not to have a crash in another 9-12 months-with 2-3 major company headquarters coming here and the zero state income tax as compared to CO. Would love to hear comparisons on that and the statistics on TN in general like you did for CO. Thank you.

[@Lou-jf4rl]

I think you may not be evaluating some of the data correctly. For instance I don't know of a bank that would loan someone making 56k a year enough money to purchase a 600k+ priced house. Could it be the migration patterns are more salary based and the median wage data point doesn't reflect that fact yet?

[@moneymanfernando1594]

Could it be that these people and corporations who are creating this real estate bubble by overpaying for these homes are doing this with the intent of turning these properties into short term rentals such as Air BnB and also VRBO ??? Have you done any research concerning this ???

[@karihosny9420]

Something isn't adding up. I moved to Colorado 2 years ago. The area where we moved to there was a shortage of housing for residents and it was nearly impossible to get an apartment to rent in a safe neighborhood. We finally landed one however there were almost 50 applications per rental unit. When we went house hunting last year right at the beginning of the pandemic there were 20 to 30 offers for every house that was on the market. Not to mention majority of homes sold within 48 to 72 hours of being listed. Home prices started skyrocketing shortly after we bought our house. Many realtors were saying there were many out of state people looking to buy in our area. According to the 2020 Census Report, the area where my husband and I settled down grew by 20% over the past decade where the rest of the county only grew by 9%.

[@vaeell6532]

What do you mean isn't adding up? Wages aren't keeping pace so demand is going down and inventory is going up. Banks are also not lending, meaning less people able to get a loan even with good credit. It's pretty simple.

[@darioebhard1477]

No one is talking about inflation. When food and service go up a lot, people will be feeling pinched, especially those living pay check to pay check. Just wait until you get your property tax bill in 2022.

[@obandvwc]

Great job on Denver. What are your insights about DC area and VA and Maryland surrounding areas??

[@khanfauji7]

Thanks for doing this video. Super helpful

[@markporter6933]

Where online can I find the map that you used with the click on value of specific areas, right in the beginning of the video?

[@ReventureConsulting]

Nowhere as of now! However, I am working on a web app/subscription service that will provide that! Stay tuned and make sure you're on the Reventure mailing list.

[@dangingerich2559]

Well, I'm looking to move out of Colorado because the laws and government are becoming downright oppressive, and I don't want to deal with them anymore. So, that will have some small effect on the housing demand, and I know for certain I'm not the only one looking to move out of this state.

[@dangingerich2559]

@Cody Bahr It's not going to continue that way.

[@arronhope9349]

@ Cody Bahr. You are right, between high wage tech jobs, remote work, strong oil and gas economy, the mountains as your backyard,all the sunshine,demand will stay high

[@museofthecastle]

Water seems like a big issue in many places. I'm worried about buying in Vegas because of the water issue.

[@valerier4308]

Thanks for this information! I'm in the Ft. Collins area.

[@rachelharrison7961]

Sounds like Yogi Berra: Nobody goes there anymore because it’s too crowded!

[@805snipper805]

Great video, thanks for covering this area, I have been eyeing this state for a while and this data really reassures me of what I already thought was happening and I think is going to happen. Love your video!! thanks a bunch

[@MotívameToday]

Could you do a video on mortgage back securities (MBS) and how/if they correlate to the housing bubble. Thanks!

[@mattwas2896]

I live is Sewell NJ 08080 (aka Washington township) the market is pretty crazy here. I had my condo on the market back in March but took it off the market before I signed the papers because I was worried I would not be able to find anything betting in my price range. I saw a house that was on the market 2 years ago for 240 and now it is 340

[@AlexZ-lc6nl]

How could a 2 bed 1 bath 1.5 garage town home be worth almost half a million? (500K)?!?! Denver is nuts! (Check out Northfield, it’s insane there). “Affordable” rent is 1200-2500 a month. It’s nuts.

[@jeffreydeuitch2146]

Because its land value. The structure has nominal value and may be a tear down. If you see really big housing around it, then that's the deal. Properties are defined by their site value, structure value, and value of site improvements.

[@DJR5280]

The new townhomes in my area off of Baseline Hwy 7 and Sheridan Pkwy are closer to 600k

[@arkzyFn8]

This is s. Tamoa

[@buildergradeeconomy788]

@@DJR5280 I’m in the development basically across from those townhomes. Renting and giving it time until this whole BS goes off the cliff before I buy. Lots of FOMO suckers out there competing with corporations and willing to overextend and pay anything. There will be a lot of losers. The musical chairs coming to an end.

[@DJR5280]

@@buildergradeeconomy788 I'm in the development just NE of King Soopers. In front of AutoZone etc. Yeah. It's nuts. The house I'm in was a new build last year, purchased for 537k and now it's estimated to be worth $700k. In a little over a year it jumped that much! There's a home for sale in my area right now for $750k but it's not moving. I think they priced it way to high. Been on the market for a month.

[@chrisgrundl6651]

I lived in Colorado for almost 20 years. We were priced out of the state. Home and rent prices are astronomical and ridiculous. So many people that were natives were drove out by the rising prices. Not to mention the state has become more far left, has also drove people out. We were sad to leave Colorado but don't regret it!

[@chrisgrundl6651]

@baizuo what?

[@AB-qt4dj]

So sad to hear another native leave.

[@MisterRogersHomes]

Same thing in Arizona.

[@setfreemiss]

Where did you go?

[@ColdPotato]

Where is all the money coming from for such prices? It can't all be CA/NY people selling their homes. As in do we have an idea of cash purchases vs loans?

[@DianaBism]

Thanks for this. I live in Arvada near Denver and my hubby and I want to buy.

[@cyndibrandel9116]

That's is why Colorado became expensive. Californians moved there then screwed it up. The people from there are moving out and moving somewhere cheaper.

[@bhlibertybhliberty3403]

We're having the same problem here in Phoenix!

[@legacy634]

Ditto in Florida

[@vaeell6532]

Yup.

[@darioebhard1477]

Don't forget the foreigners. We shipped them our money for cheap stuff. USD is loosing value so they're investing in US RE and equities.

[@nickionescudeblazonick32]

Great job Nick!!! Do one of Tampa please 🙏🏻🙏🏻🙏🏻

[@jasonkusters5607]

Love the content! Keep it up

[@andrewevans5750]

As a data engineer, I cannot afford a home. For the past 10 years salaries definitely did not keep up with prices. The median salary in 2016 for my job was 72k. Today, it is still only 85k. You might be able to get a remote job from CA paying CA wages that pay better but there will have to be a price correction. Prices compared to income make CO the 2nd highest state for debt load per capita. My pre-approval is for a max of $300k. Consider I make 85k + 15k from other jobs and you can see what the problem is. That puts me in the top 20% of earners in the state. Add in my wife who makes $32k as a GM and we are upper class at 132k with no kids. I CANNOT afford a home despite having 65k down and living in CO Springs [commuting 2.5 hours one way 2 days per week]. Never take the top mortgage. My max is 315k. No it is 290k because I am looking at 700 sq ft. condos and building property on land I bought in West Cliff in 2016.

[@ReventureConsulting]

Thanks for the comment Andrew! I think many people across Colorado are in the same boat as you. Historically home prices tend to follow what wages/income does.

[@wanderingdoc5075]

No excuse. There ar IT workers working concurrent jobs remotely, each paying low to mid 6 figures. They made it work.

[@andrewevans5750]

@@wanderingdoc5075 pffft. i work 2 jobs as a data engineer. you are lucky. i am on the 996 unlike the chinese person on my team. maybe this is the point where I say f** you.

[@andrewevans5750]

@@wanderingdoc5075 yet another thing, looking at my rocket verified preapproval. 5% down is NOT SMART. When I say purchase, I mean without getting f** as well. troll

[@punker4Real]

if you make 132k and only have 65k savings it means you have a spending problem i have very little income and my savings is way bigger then yours ... $275,000 but it's being sold off for real assist such as silver and gold... dollar hyper inflation will be soon so unless they raised the interest rates to like 80% it will hyper inflate the fed is backed into a corner this is why they have not raised the interest rate .. remember like the government said the economy is perfect if everything was perfect we would have a 4-6% interest rate.. as soon as they do EVERY Bubble Pops.... No matter how much money they put into it, IT WILL never recover