According to a study released last week by the National Multifamily Housing Council and the National Apartment Association, apartments contributed $10.4 billion to the metro Denver economy and supported 97,400 jobs in 2013. (Karl Gehring, The Denver Post)
Re: “Apartment inventory heads toward 20-year high, boom lifts Denver economy,” March 11 business news story.
I suppose it depends on your perspective, but your article stating that “Apartments contributed $10.4 billion to the metro Denver economy” is certainly open to interpretation. That figure includes $7.1 billion paid in rents. I would argue that represents more of a negative than a positive, in that itap more than $7 billion taken away that renters could be spending on other local goods and services. Further, itap a fair bet a good share of that money goes to out-of-state corporations, hardly benefitting the Denver economy.
Richard Kaup,Golden
This letter was published in the March 18 edition.
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