Quote:
Originally Posted by Stonemans_rowJ
Northwest Denver over 30% vacancy!? I was speaking to a friend who has 18 doors just this week, he is below market rent in B and C neighborhoods and he "suffered a bit" this year due to lease-breaks and extended vacancies.
Normal blip or the beginning of something yuuge?
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Again, I don't think this is reflective of a macro economic shift, but more a local cooling of the rental market due to the flood of units coming on board. When I look at real estate (condos, for sale homes), things look about as hot as ever with record low inventory (
https://www.bizjournals.com/denver/n...tory-near.html). However, I am seeing a cooling of prices based on just looking around the area I live. I saw a complex (not super old either) in the RiNo area offering 2-bedroom units for $1739 a month...... That's insane from my perspective given how prices have been over the last couple of years since I moved here.