The housing crisis in Colorado is reaching new heights, with homelessness rates hitting all-time highs in 2024. However, a recent report by Eric Galatas, published via Public News Service, reveals a surprising twist: the problem isn’t necessarily a lack of available housing units. Instead, these units are often tied up in portfolios of billionaire investors, used as wealth storage rather than as homes. Hedge funds and the ultra-wealthy are buying up properties at unprecedented rates, driving up prices and keeping homes out of reach for the average family (read the full article).
According to Omar Ocampo, researcher at the Institute for Policy Studies and co-author of the report, these luxury units aren’t built for people to live in—they’re built for profit. “Basically, the only people who can afford it are people who are ultrahigh net worth, or at the top of the income distribution,” says Ocampo. The trend has led to record vacancy rates even as homelessness soars, showing just how disconnected the current real estate market is from the needs of everyday people.
At reSpace, we believe there is a better way to approach homeownership. We offer a unique solution to this crisis: hyper-affordable luxury co-homeownership that enables people to buy into areas that would otherwise be beyond reach. Our model allows renters to transition into ownership, opening the door to affordable luxury and, most importantly, a chance to begin building generational wealth. Co-Homeowners own their private suite and share common areas. Co-Homeowners each have their own mortgage and are able to buy or sell independently of others.
Why Co-Homeownership is the Solution
Homeownership has long been the foundation of financial stability and generational wealth, yet it’s slipping away from most working families. Large corporations have shifted rental stock into short-term vacation properties or high-end luxury units that sit vacant, thus shrinking housing stock for middle-income families and driving up rents. Meanwhile, corporate landlords have been able to maximize profits through price hikes and by keeping homes from people who need them most.
reSpace’s co-homeownership model flips the script by creating accessible ownership opportunities in desirable neighborhoods without the burden of full property ownership costs. Instead of paying rent to corporate landlords who hold no stake in your future, our approach allows you to build equity with each payment. By co-owning with reSapce, you get access to luxury and prime locations, making ownership a realistic option even in high-cost areas.
Building Wealth Through Co-Homeownership
With reSpace, you are more than just a tenant. Every dollar invested goes towards something tangible—your ownership stake in the reSpace property. Traditional homeownership may seem out of reach, but with our model, the pathway to building wealth becomes accessible. This isn’t just about affordable housing; it’s about creating lasting financial security.
Our vision aligns with the needs of millions of Americans who, like many in Colorado, find that traditional homeownership has become unaffordable due to investor-driven price increases and property conversions. Rather than relying on government housing projects alone, reSpace empowers individuals to take charge of their housing future through shared ownership, which offers both financial benefits and a sense of belonging.
Investing in the Future
The report calls for public investment and policies to counteract the effects of corporate dominance in the housing market, and at reSpace, we see this as complementary to our mission. While legislative solutions are important, immediate opportunities for people to afford housing are equally critical. We believe that anyone who wants to own should be able to, regardless of income level.
By redefining ownership through our hyper-affordable co-homeownership platform, reSpace provides an attainable solution to a crisis that has affected Colorado and beyond. Join us, and let’s turn the tables on the housing crisis—one home, one co-owner at a time.
At reSpace, we’re not just building homes. We’re building pathways to wealth and stability for those who need it most.
