Common Sense Institute Fact of the Week

[Common Sense Institute]

Since 2010, Colorado's median home values have surged by 132.4%, while median household income has only risen by 65.2%

Colorado’s Housing Market Disparity Tuesday, July 9, 2024 Since 2010, Colorado's median home values have surged by 132.4%, while median household income has only risen by 65.2%. This growing disparity has widened the affordability gap for many residents. In 2022, the mortgage capacity for the median household was $344,468, while the median home value was $549,900. For the average household, the gap was even larger, with a mortgage capacity of $459,679 against an average home price of $712,426. This mismatch means more Coloradans are struggling to afford homes, with the affordability gap growing from 46.8% in 2010 to 60.2% in 2022. Despite more households being able to afford higher-priced homes, the market is oversupplying these expensive properties, making it harder for lower-income households to find affordable housing. Addressing this issue requires building more homes and implementing state and local policy reforms, such as zoning changes and reducing the risks associated with condominium development. These measures are essential to close the gap between what households can afford and the current housing prices in Colorado. Read the Full Report We hope this helped inform your day! Know someone who might want our newsletter in their inbox? Here’s the signup. See you next week! Want to change how you receive these emails? You can update your preferences or unsubscribe

[Common Sense Institute]

The fentanyl crisis in Colorado has escalated dramatically, with the cost of fentanyl-related overdose deaths in '23 reaching an estimated $16 billion

Fentanyl Crisis in Colorado: A Stark Reality Monday, July 15, 2024 The fentanyl crisis in Colorado has escalated dramatically, with the cost of fentanyl-related overdose deaths in 2023 reaching an estimated $16 billion. This is a more than tenfold increase from $1.3 billion in 2017 and exceeds the state's 2019 tax revenue of $15.9 billion. The $16 billion cost represents 3% of Colorado’s GDP in 2023. Over 1,200 fentanyl-related overdose deaths were recorded in Colorado in 2023, averaging three deaths per day, with 59% due to illegally manufactured fentanyl. This number surpasses the combined total of homicides in Colorado from 2021 to 2023. The Colorado Bureau of Investigation reports a 104.4% increase in narcotic seizures from 2008 to 2023, with the quantity of seized narcotics rising by 5,144%.

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[Common Sense Institute]

Since 2010, Colorado's median home values have surged by 132.4%, while median household income has only risen by 65.2%

Welcome to Facts from the Frontlines In response to major events and headlines, Facts from the Frontlines provides readers with the latest CSI research and analysis on a range of topics.   “A significant part of our mission is to inform and educate with the facts – no spin, no rhetoric, just facts,” said Kelly Caufield, CSI Executive Director. “Policy solutions driven by data rather than hype create thriving communities and individual opportunity. We have the data and this new publication will help us reach more people with the facts.”  State of the City Focuses on Housing, Homelessness and the Economy Today, ‘Facts from the Frontlines’ focuses on Denver Mayor Michael Johnston’s annual State of the City speech. “It’s no surprise that Mayor Johnston’s remarks today focused on housing, homelessness and the cost of living as these are the issues that are top of mind for voters and rank among the biggest public policy challenges for elected officials,” continued Caufield. The Research Behind the Headlines In this issue of ‘Facts from the Frontlines,” CSI provides a snapshot of research on housing, the influx of migrants to Denver and the economy: Read More on Housing Read More on Migrants Read More on Homelessness Want More? For more research, visit www.commonseneseinstituteco.org

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