Downtown Denver's Gen Y Predicament
"Here comes 'Generation Y' to the rescue…again," writes Denver Business Journal editor Neil Westergaard, discussing an "anemic" real estate market. "But forget about homes with soaker tubs, formal dining rooms, and big lawns to mow. Say hello to places Gen Y can eat dinner while watching TV, huge apartment complexes with mega-amenities like workout rooms, and rooftop swimming pools." In other words, forget neighborhoods of homogenous design, confusing streets, and endless strip malls. Federal Housing Administration commissioner David Stevens expects the younger generation, born in the 1980s and 1990s—also known as echo boomers because they are the children of baby boomers—to spark a buying spurt not seen since the end of World War II.
"There’s just one problem with this scenario when it comes to downtown Denver. While one of the hippest places in the country for Gen Y to live and work, the city is running out of inventory that Gen Y can afford." You might spot some of the lucky ones with with homes at the Denver Home Show this weekend, taking advice from HGTV designers (Denver Daily News).
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