Denver Mayor Looks Back at Challenges During Last Year in Office
Denver Mayor Michael Hancock looked back on the challenges during his tenure in office, including the lack of attainable housing. CAR’s Market Trends using April data showed that home values grew 31% over the past two years, and that housing affordability reached a record low. When Mayor Hancock began office in 2011, he explained the mortgage crisis caused the city to slow down housing production because people were qualifying for properties that “they didn’t have the wherewithal to deal with.” Now, he says it’s because many people want to live in the Mile High City. He is finishing his last year in office by working with companies and organizations to “jumpstart” production and work with the city council to look at policies that may slow down construction.