Colorado’s housing supply has not kept pace with population growth. The state has current unmet housing needs of tens of thousands of units and will continue to grow — it is estimated the state will add 1.72 million people by 2050. Nearly one-third of Colorado households spend more than 30% of their income on housing and people are forced to live further away from where they work, leading to increased traffic and decreased access to job opportunities. In order to help address this ongoing challenge, Colorado Governor Jared Polis took action, signing a new executive order today.
“We strongly support Governor Polis’ directive to his executive agencies to assess current funding programs intended to support statewide housing needs. State competitiveness data we’ve collected shows that Colorado has one of the highest housing costs compared to other states. It’s critical that all tools in the toolbox are used to reduce the housing shortage and affordability crisis that Colorado is experiencing,” said Loren Furman, President & CEO, Colorado Chamber of Commerce.
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