Denver, Colorado will be on track to shatter its record number of evictions after passing more than 9,000 filings so far this year.The Denver Post reported a 32% increase in eviction filings compared to this time last year, with the city’s Department of Housing Stability predicting over 15,000 filings by the end of 2024. That projected number will be approximately 20% higher than the previous record set in 2023.Statewide, Colorado is also experiencing a 10% increase in eviction filings compared to this time last year with over 25,000 filings as of Aug. 5. »Housing prices in Colorado are very, very expensive, and (many) people don’t make enough money to comfortably pay their rent, » Zach Neumann, the co-founder and executive director of the Community Economic Defense Project told the Denver Post. « Which means that a single $500 emergency — a flat tire, an unexpected medical bill — means that someone is suddenly in the position of either having to make a hard choice or not being able to pay their rent at all. »RISING RENT PRICES PUSH RECORD NUMBER OF AMERICANS TOWARD HOUSING CRISIS, PROMPTING LEGISLATIVE ACTIONIn November 2023, Colorado Gov. Jared Polis signed into law a program to set aside $30 million for rental assistance. By June, however, the money was fully spent after benefiting approximately 8,000 people.The state is expected to devote additional funding for rental assistance with the possibility of making the program permanent, but there are doubts about how to properly manage the program. »I think what’s so damning and so hard about this moment is that it’s become such a big problem, you have to ask the question of whether the state budget could effectively account for every single eviction, » Neumann told the Denver Post. « Do we have the budget, do we have the financial bandwidth? »In a comment to Fox News Digital, Neumann called for better efforts by the state to combat rising rent costs. »Unaffordable rents, set by corporate landlords, have put basic housing out of the reach of working families. As the state works to build more affordable housing, we must fight for fair practices that ensure all Coloradans have access to a safe and stable home, » Neumann said. Though some acknowledged the program helped people facing evictions early this year, others suggested legislative efforts beyond simply offering rental assistance would be more helpful. »Given our volatile economy, the recent federal jobs report, rising inflation, and increasing reliance on credit due to the inability to keep up with costs, it’s no surprise that these challenges are reflected in housing dynamics. Despite these pressures, rents have remained flat, » Colorado Apartment Association government affairs manager Destiny Bossert told Fox News Digital. »Rather than focusing solely on eviction numbers, we should be urging our legislators to tackle inflation, creating more jobs, and making living more affordable. This can be achieved by reducing red tape and eliminating costly government programs that fail to provide real benefits to the public. »DC LANDLORD CLAIMS TENANTS HAVEN’T PAID RENT FOR THREE YEARS BUT TOLD HE STILL MUST WAIT TO EVICT THEM: REPORTAccording to the National Low Income Housing Coalition, Colorado is the eighth most expensive state for affordable households with the fair market rental value of a one-bedroom apartment costing approximately $1,600 per month. It reported a $14-per-hour minimum wage employee would need to work 85 hours a week to afford that.CLICK HERE TO GET THE FOX NEWS APP
Source link : https://www.foxnews.com/media/denver-colorado-evictions-reach-record-levels-second-year-row
Author :
Publish date : 2024-08-12 00:00:23
Copyright for syndicated content belongs to the linked Source.
Denver evictions reach record levels for the second year in a row
