Economy and population continue to grow and demand for residential and office space increases and points to the potential boom in the real estate market. Easy accessibility to local transportation and location will spur economic growth and development. The local government is actively investing and planning the construction of public infrastructure to enable the city's future development. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get Original Essay The baby boomer generation has begun to reach traditional retirement age, also leading to higher labor force participation rates for the 65-and-older demographic as earnings rise. Other economic preferences related to population aging indicate that health spending, housing preferences, and demand for goods and services will increase relatively. Generational transition plays a significant role in the business community. As baby boomers retire, employers will keep these workers or replace their positions. Planning ahead would avoid business risks in the future. Network migration activity in the Denver metro area remained strong but also declined slightly. Demand is still strong, but low inventory and affordability have limited sales growth. Housing inventory remains at a low level. Therefore, new housing developments could help alleviate the low inventory situation and ease price pressure. Low net migration activity coupled with lower affordability and higher interest rates could somewhat halt home price growth in the future. In 2018, home price growth is expected to slow to 5%, a rate similar to the national rate. Metro Denver maintains steady job growth and a lower unemployment rate than the United States, so the area attracts new companies, talented workers and fosters entrepreneurship. Salary is expected to increase. The developed job market will attract people to re-enter the workforce market, and companies will want to hire more skilled workers who are matched. The pace of construction activity will remain high going forward as several million square feet of office and industrial space continues to grow. support the market. Large-scale infrastructure projects and other public investment projects and non-profit activities emerge at a rapid speed. The Denver metro area's eighth consecutive year of expanding development will provide tremendous job opportunities and diverse housing options for its 3.2 million residents. Homebuilders are responding to strong population growth, low vacancy, strong rental rates and some of the fastest-growing home prices in the Denver metro areas. Home prices in the Denver metro area were 7.2% higher than the previous year's level, marking the fifth-largest increase over the year among the 20 cities tracked by the index. The median home price in the Denver metro area increased 7.7 percent between the third quarters of 2016 and 2017, while Boulder saw a 10.4 percent increase during the same period. Many factors have contributed to strong demand in the residential real estate market, including an improving economy, growing employment, more confident consumers, migration and low mortgage interest rates. Increasing tax revenues will provide a way to overcome challenges in managing a growing population and.