Elevating Real Estate Values Around the Country, Legalization Creates Higher Home Prices | Marijuana

Elevating Real Estate Values Around the Country, Legalization Creates Higher Home Prices

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Marijuana legalization cultivates higher home prices in states where pot is illegal.

At the recent 67th annual National Association of Real Estate Editors conference, one of the chief topics up for discussion was real estate appreciation, and the common denominator found in each market; legalized recreational marijuana.

The knowledgeable speakers included Ralph McLaughlin, chief economist at Trulia, and Tom O’Grady, CEO of ProTeck Valuation Services.

Looking at closed escrows and lingering inventory as a determining factor in their classification of a “Hot Market,” the CEO of ProTeck Valuation Services noted that Denver and Portland are currently enjoying some of the highest appreciation on their existing inventory and greatly reduced days on market.

Creating quite a buzz on Twitter, some conference attendees couldn’t resist the pun-rich topic:

Also appreciating rather nicely since legalization, Seattle, Phoenix, and Washington DC are bracing themselves for record appreciation over the next 20 years. Apparently, legalization has far-reaching ramifications. Not only does legalization allow millions of Americans to get safely elevated without the fear of prosecution – it also encourages strong growth in our local real estate markets.

(Photo Courtesy of Realtor.com)

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About Author

My name is Monterey Bud and I was born in Long Beach and raised on the central coast. I surf, dab, burn and write. I'm a husband, a father and a lifelong consumer of connoisseur grade weed. I have been writing about marijuana strains, science, and politics for Marijuana.com since 2012. A Big Sur cultivator from the pre-helicopter days, I'm a big fan of new strains and breaking news. I can be reached on Twitter @MontereyBud

3 Comments

  1. I just heard on the news that home prices are appreciating faster in Seattle than in any other city in the country. Which to me signifies that home prices there are indeed in bubble territory. And we all know how bubbles end…

  2. My friend’s home in Portland has over doubled in value since legalization. Don’t hear about things like that on the news though.

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