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Where do all the creatives gather in Denver?
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Helps when daddy has money to help with rent, know plenty of people like this, where they go to their parents ski house in Breck, or get help with their car insurance or rent etc.
VP1 I was just looking at Airbnb price for ski towns and was wondering how people afford to do it… I understand families traveling here for a one week vacation but I know some people that lives in Denver but go ski somewhere every weekend. I also make over $200k so I am even more puzzled. I guess I forgot some people have very rich parents.
I’m in my 30s (F) moved from NYC during Covid lockdown but still make my NYC VC/PE comp. So rent here was cheap to me. Rented a 2bdrm + 2.5 bath townhouse in a luxury building. I’m still saving and investing on top of travel.
I don’t have a trust fund, parents never paid for anything, just a first generation college kid who busted her ass to get where I am today. I still realize I’m very fortunate.
@principal 1 Are you a BCG Principal that moved to VC by chance? I’m hitting principal soon and strongly considering it. Background in financial services before B-School
There are plenty of people spending money on things they can’t really afford rather than saving or investing.
I think a lot is just built up wealth over time. I grew up dirt poor. Now I am 46, have a house that backs up to the foothills and a ski condo in the mountains. It took 20 years, but consistency is the key word.
There’s lot of daddy’s money around the Denver metro area. Born and raised here so I’m unfortunately used to seeing this. Most kids I knew had parents paying for luxury trips to Mexico for their spring break “senior trip” in high school, never had to take out any loans for college and are still being supplemented by daddy.
Then we have CA and NY transplants that’s find it much cheaper to live here so it’s rare to find people that are originally from here these days. So many have moved because the price of living continues to increase.
Prices will continue to go up because there are enough people here willing and able to pay 3k for an apartment. Honestly I’m sure I’m just jealous that some people can do that no problem and I can’t.
Just because people pay for luxury buildings doesn’t mean they’re responsible with money/ rich 😊 I watch friends pay bogus amounts for rent but they eat at home/ don’t travel. Or are in financial troubles. Personally I used to always rent from independent homeowners/ condo owners before I bought. Craigslist/ Nextdoor listings are your friend, I never paid more than $1000 for rent in central Denver (granted I split rent with a partner)
I just hoard my money, live well below my means as an A.I. Architect and Defense consultant so I too can one day be on HGTV saying "I am boutique chicken herder...that has a 10 million dollar budget for a custom house in Denver"
Purely selfish ego to be a one day a "thought leader" and non-cult "tech cult"
I’m seeing anywhere from $2k - $3k for under 900 square feet one bedroom
Hardwood floors, in unit washer and dryer, walk in closet, solid whirlpool appliances, balcony , and a decent view of the mountains. And it’s just me and my dog.
Building has a heated pool and hot tub, lounge area, a business area where I can work, parking garage, and a pretty solid gym. To get all this in NYC I’d have to probably pay $5-7k
I don’t know many who are living solo in luxury buildings that don’t work in tech or consulting. Most folks in that case are pulling 150k+ if solo, where 2.5k/mo is very manageable. Also many people transplanted from large cities during covid like NY or SF where 1BRs are easily 3.5k+
Idk maybe I need to network more
I honestly do not have denver friends or know of folks $$ raking it in
I grew up here (not wealthy), but moved back 3 years ago was shocked to see the cost-of-living has changed.
To echo what others are saying, you pretty much have to work in tech, consulting, or finance just to afford anything Denver proper.
My wife is a professor that works downtown, most of her colleagues live an hour away.
We are fortunate that as a Data Scientist I wrote a program to give me alerts on Denver neighborhoods (as well as other parts of Colorado) that have inflection points in pricing vs value. This led to us buying in Denver and other properties in Colorado at the right place at the right time.
Despite the cooling of the market, it is still pretty wild out there when I pull up my dashboard.
It isn't anything crazy, momentum is relatively predictable in timeseries market trends.
So you can compile data from Zillow and Redfin do a trend analysis on a few of the moving average indicators to predict inflection by neighborhood.
Basically the standard stuff you guys at Amazon are already predicting but instead of consumer sales just shifting it to real estate sales.
Is Denver still considered MCOL?
Even if Denver is considered HCOL, most jobs won’t pay the same as they do in other HCOL cities. People want to live in Denver, and therefore bring salaries down. There is a saying, “enjoy the view of the mountains because it is 20% of your salary.” I don’t know if it is really 20%, but I know the salaries don’t keep up.
I tell people looking to move here that they may only want to come if they love the mountains and plan to recreate in them frequently.
It’s definitely transplants and parents helping.
I feel like people here travel nonstop and works only 3 days a week…meanwhile they still have a ton of money. Puzzling
And everyone has a camper van, a very nice mountain bike, etc. Man I am just so jealous…
I have friends who make less than $50k but their parents bought / furnished million dollar condos for them. Wild
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What is the rent like?
What is the rent on these luxury apartments? Maybe they split with roommates or significant others?
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One of my brothers friends who is ~30 doesn’t even pay rent. Their dad pays for everything…rent is in the $3000 range. Crazy.
I live in Jefferson park and rent is extremely affordable