What Amazon can do for Denver’s real estate market

What Amazon can do for Denver’s real estate market

📰 Ask the Colorado Dream House Team 📉

Welcome to today’s show with your host @Dan Polimino! Today’s show is focused on all things Amazon and what their move to Denver would mean for our real estate market.

All reported sales were not necessarily listed or sold by the broker and are intended only to show trends in the area or shall separately identify the broker’s own sales activity. 

Full Transcript:
00:01 Hi everyone and welcome today’s show of ask the Colorado Dream House team. I’m your host Dan Polimino coming to you live from Denver, Colorado this Thursday afternoon. Welcome to the show. If you’re new, we talk about everything real estate, whether you’re buying, investing or selling real estate, you can come here every Tuesday and Thursday afternoon and get news you can use as well as questions that you may have. It doesn’t matter what part of the country you’re in. This information works wherever you are and it comes from years of experience and thousands of transactions. If you’d like to leave a comment, you can do so right here on facebook. We would love to hear from you and we’ll even use your comments on the show. If you’d like to call us, I’d love to talk with you about possibly helping you buy, sell, or invest in real estate, or of course you can email us as well.
00:50 Two things we like to accomplish. Every show, we like to give you some news and information and we like to answer your questions. With the exception of this week, this week, we are not going to. All of the questions, but really talking about questions surrounding Amazon because it seems to be all of the buzz around town and if you were one of the [inaudible] cities that made the first cut of Amazon’s potential second headquarters, you’re probably talking about this too. And the story goes like this. I was at lunch a few weeks ago. I was minding my own business, just eating lunch, reading the news, and there were two women sitting in a booth next to me and I couldn’t help but overhear their conversation, but it was all about whether or not Amazon moving to Denver was actually a good thing. And both of these women didn’t think so.
01:40 They were both lamenting the idea of Amazon potentially moving to Denver. They thought it was a horrible idea and for some of the reasons you would expect, they said, oh, traffic’s going to be worse and congestion is going to be horrible. And, and uh, there’s just not enough room in, in, you know, we’re getting to spread out. There’s too many people were using too many resources. And I think even governor Hickenlooper not so long ago, kind of slipped up and said he, he’d be OK if Amazon didn’t move here, you know, I think everyone, or at least some people are not looking at this really clearly. So let’s address a couple of things. If they pick denver, they said they would invest 5,000,000,000 with a b billion dollars into the economy and they would employ 50,000 people. First off everybody, the day that they select Amazon, they are not backing up plane into dia and dropping off 50,000 people.
02:41 You do realize that, right? So all those people who are worried about all the traffic, oh, the congestion more people, 50,000 people are not arriving here on day one. It’s going to take a while to build a second headquarters. It’s going to take a while to employ all of those people. And you know what? I bet you a large percentage of those people that they employ are going to come right from here in Denver. They’re probably already living here, which is a great thing. So there’s big population boom that you’re worried about. Probably not going to happen, and even if it does, even if Amazon brings 30,000 people from outside Colorado, it’s going to be trickling in over a number of years. OK, so that’s concern number one. Concern number two. Well, housing prices are going to go through the roof. Now, if Amazon moves here, I got news for you.
03:33 Denver is one of the top fastest growing cities in the nation. They are one of the few cities that show net gains. What do I mean by that? What I mean by that is that if 300,000 people move out of Denver in a calendar year, 350,000 people are moving in, they’re having a net gain of 50,000. This is one of the few cities that has a consistent net game. So people moving to Denver, doing business in Denver is not going to slow down anytime soon, which means home prices are going to continue to rise. So if you’re saying, well, you know, home prices will stabilize or at least be moderate or where they are. If Amazon doesn’t move here, not a chance. Home prices are going up. Whether Amazon moves here or not. All right, let’s talk about traffic congestion, infrastructure. Again, if Amazon moves here, it just reinforces the need for government to get on their horse, so to speak.
04:34 Get started now and get moving on. Adding more infrastructure. Denver is one of the best with their highways, their bike trails, their light rail system, our td. I mean they’ve got really good infrastructure but they need more. Nobody would argue that they definitely more and you got to start talking about it and getting in place now. Right? Again, whether Amazon gets here or not, you’re going to need it. How about a boom to the economy? I mean, why are people forgetting about this? Are you telling me a $5,000,000,000 investment into Denver would be a bad thing? That’s called economic security for many, many years to come and since we’re all living here, working here in raising our kids here, I think economic security is a good thing, right? And yes, there’s going to be some problems and yes, we’re going to have to work some things out with infrastructure and how far it reaches and how many people are involved, but you understand that Amazon says that the average person, they’re gonna employ there is going to make 100,000 dollars a year or more.
05:43 Heck, that’s a great thing. Where do you sign up? So again, there are going to be some positives and negatives, but the positives are going to far outweigh the negatives. I didn’t hit on all of questions, I didn’t hit on all the topics or discussions about this. I just hit the big ones. Right? That people really, really care about. And again, I would love to hear your feedback. You’re more than welcome to share your opinions and insight. We can agree to disagree, whatever the case may be, but that’s all that we’re talking about in regards to Amazon. I think it’s a great thing. I hope they picked Denver. Anyway, that’s the show for this week. Everybody. Have a great weekend and we’ll see again here on Tuesday.

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