Corporate Housing Solutions | Feb. 15, 2019
A very interesting article out of the Denver Post demonstrated how households making over $100,000 are renting rather than buying in the Denver metro area. A trend that is counter to traditional wisdom that states owning homes is always a good store of wealth and a safe investment. The Denver Post writes,
“Metro Denver had the largest percentage increase the past decade of any major metro in the number of households who rented and made $100,000 or more a year, according to a new study from Apartment List.
The number of renter households in metro Denver who clear that kind of income, which should be enough to buy a home or condo, shot up 146 percent between 2008-17. Nationally, the increase was 48 percent.
“I do believe the American Dream is evolving. It no longer is about owning the single-family home with a white-picket fence. It is about flexibility and being able to pick up and move,” said Nancy Burke, vice president of government affairs with the Apartment Association of Metro Denver.” (Denver Post)
This demonstrates a change in philosophy in terms of wealth management, showing a preference towards short-term rental solutions rather than long-term home investments. How this will impact the market is yet to be seen, but we do know that this trend is perfectly geared toward anyone looking for short-term rentals in the Denver area.
Denver Short-Term, Furnished Rentals
With furnished rentals there will always be a higher monthly associated with the rent, but if this allows for the freedom of movement that the middle upper class seeks then without question services like Corporate Housing Solutions will benefit the most from such a trend. Freedom and value are at the heart of the furnished rental solutions, something that is obviously becoming very appealing to the wealthy and savvy of Denverites.
It seems the motto of your upper-middle class in Denver has become “Work, Travel, Save, Repeat.”
If so then Corporate Housing has a very viable solution perfectly tailored for them!