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Response to KT2000 (Reply #3)

Fri Oct 15, 2021, 04:23 PM

11. Thank you KT

for your comments........

I don't know about other parts of the Country, but Denver has been a hot bed for what is described.

Corporations/ Investors based here in the U.S. and foreign investors have been swooping in for a couple of years and buying any middle or lower class home that comes up for sale, many times for tens of thousands more than the listed sales price.....

On another note, somethings connected to this are also happening.

I have seen a number of parents that are coming in and buying homes for their kids, because there is no way most young families can afford the mortgage payments given the drastic increase in prices homes are being sold for in the Denver area....

The landlords/corporations/investors are then able to charge phenomenal rents for these houses for those that can come up with the money.

The other thing that has come over the entire Denver Real estate picture is apartment construction. They apartment construction in Denver is sweeping the city like a tsunami. Everywhere you go, any piece of land anywhere in the city is being built on, existing structures are being razed for 50-100 apartment buildings. It's anywhere you drive all over Denver. Even the extremely poor sections of town are being bulldozed and the land used for these apartment complexes. An old shopping center near me has been bulldozed and they are going to build HUNDREDS of apartments on that land.

I think the wealthy realize with the prices of homes, any young ones are going to be forced to rent. The rental prices they are charging, even for a studio apartment are heart stopping.

The other thing I am noticing is the older kids are having to put mom and/or dad in a retirement home and selling their parents house just to afford the outrageous medical charges for care here in America, outrageous prescription drug costs, and the high prices charged by the places by these elder care businesses.

I could get even more cynical about some of the things I am seeing, but I won't..........

Welcome to the new America everyone.

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