Colorado is set to invest more in affordable housing than ever before. And it nearly spent even more.

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In 2018, the city will invest more money in one year than ever before to deliver housing Denver families can afford – $40 million. The Hancock Administration will seek City Council approval next month to double Denver’s Affordable Housing Fund using marijuana tax revenue and bonding to create and preserve more than 6,000 affordable homes in.

Colorado is set to invest more in affordable housing than ever before. And it nearly spent even more. The issue of affordable housing has been top of mind for Colorado residents of all stripes for years. Sun contributor Brian Eason examines what could be the largest ongoing investments in affordable housing in state history (even though some housing advocates are disappointed).

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 · Just because housing prices are high, it does not mean there will be a housing market crash. There are many other factors that we must look at. I think this housing market is much different from the last crash for a number of reasons.

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Who Needs Affordable Housing? Families who pay more than 30 percent of their income for housing are considered cost burdened and may have difficulty affording necessities such as food, clothing, transportation and medical care. An estimated 12 million renter and homeowner households now pay more than 50 percent of their annual incomes for housing.

Michael Hancock said that his administration created Denver’s first affordable housing fund and had spent more on the issue than the Colorado state government. [49] Jamie Giellis said that she would create a Cabinet-level Office of Attainable Housing, seek to buy back existing affordable housing units, and spend $1 billion on attainable housing.