A mystery of metro Denver’s runaway housing market is who can afford to buy all those $1 million-plus homes and pay $3,000 or more a month in rent for a luxury apartment.
A recent study from the research arm of ADP, the nation’s largest payroll services provider, offers some possible insights into what might be happening.
In 2005, Denver wasn’t a command and control city yet, with a ratio that skewed 10% below the national average. Englewood-based TTEC Holdings, formerly known as Teletech, was celebrated as one of the state’s largest public companies and an operator of call centers around the globe. Austin, Texas, and Denver were leading metros last decade when it came to attracting young workers, and recruiting higher-paying jobs, as well as for their. And those higher housing costs weren’t just a case of developers being blindly biased toward the high-end.
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