Housing Crisis

• From 2010 to 2020, Denver's population increased by 20%, creating a housing crisis as demand far outstripped supply.
• In 2023, Denver was short by 70,000 homes, with many of its new residents needing affordable housing.
• The average price of a home in Denver soared to $580,000 by 2023, making homeownership difficult even for families earning above $100,000 annually.
• The primary driver behind the housing crisis is insufficient construction, a lingering effect of the Great Recession, and the inability to keep pace with the population influx.

Labor Market Imbalance

• Denver faces a labor shortage with nearly two jobs available for every one person looking for work, exacerbated by a skills mismatch.
• The state's $40 billion GDP loss annually is attributed to this labor market discrepancy.
• To address this, Colorado has passed bills offering scholarships to incentivize more people to enter high-demand fields like construction.
• Despite having 114,000 unemployed individuals, the specialized nature of available jobs leaves many positions unfilled.

Socio-Economic Divide and Migration

• Denver's 'Colorado Paradox': while the city attracts highly educated individuals from other states, local residents often lack the required credentials for many of the new jobs.
• The influx of new, educated residents has created a wealth divide, seen in rising housing prices and the displacement of lower-income residents.
• Colorado's immigrant populations face barriers to entering the labor market due to lengthy and costly work permit processes.

Infrastructure and Future Solutions

• Possible solutions to Denver's issues include improved transportation infrastructure to connect job seekers with available positions across the state.
• An enhanced public transit system, like the proposed intercity rail, could mitigate commuting challenges and connect affordable housing areas to employment hubs.
• Revenue from marijuana taxes is being funneled into infrastructure and affordable housing initiatives.
• Sustainable growth will require investments not just from government but also from the private sector, especially in education and workforce training.