Find Real Estate Agents and Homes for Sale

Real Estate News --> Colorado News

Demographer: Change will challenge Colorado, Boulder County economies by 2030

No one doubts the economy of Boulder County is booming, as is most of Colorado's. But experts hint that these halcyon days face challenges in the coming years, and there's one reason that looms larger than all the rest: demographics.

Archived Story

Print   Email   Font ResizeDemographer: Change will challenge Colorado, Boulder County economies by 2030By Vince WinkelStaff WriterPosted:   02/14/2015 11:20:54 AM MSTUpdated:   02/14/2015 11:22:25 AM MST var requestedWidth = 0; if(requestedWidth > 0){ document.getElementById('articleViewerGroup').style.width = requestedWidth + "px"; document.getElementById('articleViewerGroup').style.margin = "0px 0px 10px 10px"; } No one doubts the economy of Boulder County is booming, as is most of Colorado's. But experts hint that these halcyon days face challenges in the coming years, and there's one reason that looms larger than all the rest: demographics. "Things are changing," explained Elizabeth Garner, state demographer for the Colorado Department of Local Affairs"Colorado is attracting young people, and so is Boulder County." On the surface that may seem like a good thingBut dig deeper and look a few years down the road, and Garner believes it could potentially cause problemsElizabeth Garner Colorado is getting older and younger at the same time, Garner told those gathered Friday at the 22nd annual Economic Forecast Breakfast in BoulderThat's because the state attracts a lots of millennials (birth years ranging from the 1980s to the early 2000s), while at the same time the 65-plus age bracket grows faster than any other demographic. "That's why this coming transition is so significant for us," said Garner"We just haven't had that larger share of people over the age of 65." By 2030, Colorado's population of those 65 and over will be 125 percent larger than it was in 2010, growing from 555,000 to 1,243,000 That means approximately 1 million workers in Colorado will be aging into retirement in the next 20 years, her research shows As a result, tax revenues will take a huge hit, as the income that older adults pay in taxes will shrinkIn addition, there will be increased reliance and strain on Medicaid, Social Security and other programs Meanwhile, around 2022, millennials in Boulder County will become the largest generational population groupWill they be able to afford to live in the county, the priciest in the state? Garner asked In addition to the changing demographics of the county, housing was another issue discussed during the annual forecast meeting. "Housing costs are a problem in Colorado and Boulder County," said DrRichard Wobbekind, executive director of the Business Research Division and Senior Associate Dean for Academic Programs at the University of Colorado Boulder"Incomes aren't rising enough to afford the housing." Colorado led the nation in home price appreciation in 2014, with a substantial 8.4 percent increase, ahead of the national average of 5 percent. For example, four-bedroom, two-bathroom homes in Boulder list for an average price of $835,516, according to a recent report from Coldwell Banker Real Estate. Meanwhile "average" home values in the city jumped last year to $530,000, according to real estate site Zillow. As Colorado outperforms the nation in employment growth, has a growing population, and all the economic indicators are positive, Garner said keep in mind the times will most certainly be changingHer final suggestion during the economic forecast meeting was a simple one, touching on both housing and millennials "We have plenty of McMansions," she said"Don't build any more because we won't have people who can buy them." Vince Winkel: 303-684-5291, or   Email   Font ResizeReturn to Top   function refreshArticleList(theForm) { theForm.submit(); } RELATED MORE RELATED HEADLINES Winter storm blankets Boulder, shuts down U.S36Boulder concerned about RTD transit plan along U.S36Resort's neighbors see bumps ahead with possible Eldora expansion  var drJsHost = (("https:" == document.location.protocol) ? "https://ssl." : "http://"); document.write(unescape("%3Cscript src='" + drJsHost + "' type='text/javascript'%3E%3C/script%3E")); try{ var _recommender = new _rec({ apiKey: 'd74dd66f7814b63c1baff7a333b1452f', cssUrl: '', title: 'Recommended for You', limit: '6', width: '650', height: '275', truncate: '48', adside: 'left', section: '0000', source:'dailyme', filter:'2', rotation:'1', customer_params:'/?source=dailyme' } ); _recommender.renderPersonalized(); } catch(err) {}; Newstogram.init('d74dd66f7814b63c1baff7a333b1452f');Newstogram.pageView(); /* jQuery to fix the ugliness that is that font resize graphic*/ jQuery('.articleBox .normal').attr('src', ''); jQuery('.articleBox .large').attr('src', ''); jQuery('.articleBox .largest').attr('src', ''); window.fbAsyncInit = function() { FB.init({appId: '118765244827701', status: true, cookie: true, xfbml: true}); }; (function() { var e = document.createElement('script'); e.async = true; e.src = document.location.protocol + '//'; document.getElementById('fb-root').appendChild(e); }()); document.write(""); document.write(""); /* This chunk of javascript initializes the article comments variables, the article recommendation variables, and downloads the comments and the other dynamic var data. */ var section = document.location.pathname.split('/'); var article_id; var sectiontmp = section[section.length-1] if ( sectiontmp.indexOf('ci') == -1 ) { sectiontmp = section[section.length-2] } var tmp = sectiontmp.split('ci_'); article_id = tmp[1].substr(0,8); //The section comes from the URL -- we split it at the slashes to get each part. //DEFINED ABOVE: var section = document.location.pathname.split('/'); //If there is more than one part then we know we've got a section value var section_str = '; var section_name = '; var section_path = '; if ( section.length > 2 ) { section_name = section[1]; section_str = '§ion=' + section_name; section_path = section_name + '/'; } // Redirect to better 404 page in situations we've got a 404: if ( document.getElementById('expiredArticleMsgId') ) top.location.replace('' + article_id); var idcomments_acct = 'a30e7a4729cdbf3e36af93a00f2c9616'; var idcomments_post_id = article_id; idcomments_post_url = window.location.href; Article ID: document.write(article_id) function refreshArticleList(theForm) { theForm.submit(); } BOCOPREPS(AAron Ontiveroz / THE DENVER POST)BUFFZONEState wrestling: Lyons' Hickman no match for Harris in title boutLions senior pinned in 1:31 in 120-pound finalTalon Harris from the from the Norwood/Nucla wrestling team had been making a mockery of the competition in the Class 2A 120-pound bracketLyons junior Will Hickman was well aware of this fact heading into the state championship match. Full StoryWrestling: Prieto brothers back in the finals in Class 3AState wrestling: Day 2 quarterfinal and semifinal resultsGirls basketball: Nichols shoots Longmont past Silver Creek function refreshArticleList(theForm) { theForm.submit(); } Buffzone BUFFZONE(Cliff Grassmick / Staff Photographer)BUFFZONECollege footballCU football: Buffs' kicking, punting jobs up for grabsNo favorites have emerged during spring ballThe competition for Colorado's vacant place-kicking and punting jobs is just getting started with one week of spring ball completed and there is no clear-cut favorite among the current group of players. Full StoryCU women's basketball: Cold second half dooms BuffsCU football: Former QB Awini looks the part of a linebackerCU women's basketball: Three seniors will leave a legacy of leadership function refreshArticleList(theForm) { theForm.submit(); } SECOND STORY GARAGE(Paul Aiken / Staff Photographer)SECOND STORY GARAGESecond Story Garage: SunSquabiBoulder is a breeding ground for electronic music infused with live instruments, and SunSquabi is the style's latest success storyIt's looking to be a breakout year for the band, which announced this week it will play Red Rocks in September, in support of GRiZ. Full StorySecond Story Garage: Danielle Ate the SandwichSecond Story Garage: The Dustbowl RevivalSecond Story Garage: Judah & the Lion var DFM_ad_loc = '/8013/'+dfm.api("data","siteDomain"); if(dfm.api("data","Taxonomy1") !== 'Home' && dfm.api("data","Taxonomy1") !== ' ) { DFM_ad_loc += '/' + dfm.api("data","Taxonomy1"); } if( dfm.api("data","Taxonomy1") === ') { DFM_ad_loc += '/News'; } var agSection = dfm.api("data","sectionName").toLowerCase().replace(/\s+/g, ');

Trending Colorado News:

  • Denver police search for 3 suspects in shooting near Colorado Convention Center
  • An update on the housing market in Colorado Springs
  • Colorado, marijuana’s black market hub
  • Realtor Rychel attends state conference
  • Year-end savings on select quick move-in homes at Lennar’s Leyden Rock
  • Mortgage loan payoffs hit 10-year low
  • Organizers ‘rally the troops’ for economic growth
  • Highlands Ranch Colorado's "Top Booming Suburb"
  • Colorado Town Claims To Be the Tiny House Capital of America
  • Colorado cities bid to host stages of 2013 USA Pro Challenge bike race
  • Anschutz to buy Oklahoma Publishing, Broadmoor
  • Wife of man accused in real estate scam is indicted as well
  • Fostering Real Estate Disruptors
  • Agents: real estate market not as fun as it used to be
  • As deputies moved in, squatters disappeared
  • Colorado Springs School District 11 board accepts third offer on vacant land
  • Aurora hotel project draws criticism of incentives
  • Meet the CU Boulder grad who's done $1.8 billion in real estate deals
  • Weekley Enters Colorado Springs Market
  • Real estate market recap, May 23-27, 2016