AAMD Hosts Event to Educate Housing Professionals on Economic Drivers of the Housing Industry
The Apartment Association of Metro Denver hosted its annual conference Summer Econ 2019. Every year, the conference attracts industry leaders and professionals as participants, presenters and sponsors, and serves as an educational opportunity to understand the Colorado housing environment. This year, the focus was on future trends in and the overall health of the housing industry.
“People are surprised to learn that average rent growth was actually below inflation over the past year. When measured against the costs of all of the other goods and services, rents are actually more affordable today than a year ago,” said Teo Nicolais, a housing provider, and Instructor at Harvard Extension School. “Within the last few years we’ve reached an important milestone in Denver’s housing market: new construction outpaced household formation. In 2015, rents grew by almost 9% but in 2017 rents increased by just 0.6% after adjusting for inflation. Since then, annual rent growth has hovered at around 0.5% and, in two quarters, was actually negative when adjusted for inflation."
This year’s conference featured a diverse array of speakers and presenters, including Colorado economist Elizabeth Garner, futurist Thomas Frey, Jim Lapides from the National Multihousing Council and local owner and industry expert Teo Nicolais. These experts discussed the latest housing trends and the present and future economic health of Colorado’s housing industry.
Frey offered insight on what cities might look like in the future and how multifamily executives might adapt housing to meet the changing needs of a future population. Garner covered trends in population growth, showing that while Colorado continues to see growth, it’s at a declining rate. Nicolais offered a view on the practical economics of Colorado housing industry, including how growth caps like Lakewood’s Initiative 200 could impact communities, and Lapides talked about trends in rent control.
“Our annual Summer Econ Conference showcases our passion and commitment to educating the local community, industry leaders, and housing employees using the most sought-after industry knowledge through educational seminars,” said Mark Williams, Executive Vice President of the Apartment Association of Metro Denver. “Leading experts shared insight on growth and development, housing affordability and projects, rent control, Colorado’s housing legislation and the latest vacancy and rent report.”
This year’s event drew over 250 apartment management professionals and leaders and was presented by longtime AAMD members Standard Interiors and BluSky Restoration.