The pot effect on Denver's housing market

[n2doc]

Home prices have shot up by double-digits, inventory has fallen dramatically and multiple offers with bidding wars have become common.

One factor driving the demand: pot. The budding industry has impacted home prices since the state legalized marijuana in 2012.

"There has been a huge bump in real estate prices due to the legalization of marijuana," according to James Paine, managing partner at West Realty Advisors. "It's massively pushed up raw land and industry prices."

In March, Denver experienced the second-largest jump in annual home prices at 10%, just behind San Francisco, according to the S&P/Case-Shiller Home Price Index.

more
http://money.cnn.com/2015/06/04/real_estate/marijuana-denver-housing-market/index.html

[malthaussen]

1. Gee, you mean since pot is legal, everyone wants to live there?

Wow, who'd a thunk it, eh?

-- Mal

[tridim]

2. Everyone wanted to live there before pot was legal.

It's an amazing state.

[n2doc]

3. Yep. Here we have an example of a great jobs program and economic boost

One would think that other states would want to get in on the action. Especially those really poor, downtrodden ones like West Virginia and Mississippi. Too bad the Nutcases control things there.

[hobbit709]

4. I know several people from Austin that sold their houses and moved to Colorado since legalization.