Opinion: Building more housing won’t lower prices; demand is just too large
What got me started on this topic was a July 21 Hotline from Boulder’s deputy mayor Nicole Speer to the council, city staff and citizens of Boulder discussing the Denver Regional Council of Government’s draft Regional Housing Needs Assessment. This is DRCOG’s attempt to provide a quantitative picture of future growth in the Denver Metro area. Per the quotes that Speer pulled, it says that the region will need 511,000 more housing units by 2050 to accommodate current needs and projected future growth, and that 300,000 of these will need to be affordable to households earning 60% or less of area median income. When I read this email, the first question that came up was, where did these numbers come from? In particular, how does DRCOG know that 511,000 new units will magically meet demand? So I read the full report to see how these numbers were determined. As it turns out, DRCOG hired a consulting company to do the work, and they based their analysis on data provided by the Colorado State...