Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Colorado > Denver
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Closed Thread Start New Thread
 
Old 06-10-2015, 10:28 AM
 
Location: Wash Park
207 posts, read 480,831 times
Reputation: 157

Advertisements

I'll admit that most of my rental houses are in a "pot-friendly" neighborhood.

Rents have increased 25% in about a year and a half.

The single most important factor in this increase is legalization, but I seem to be one of the few landlords reporting this.

CNN has caught on:

How legal marijuana biz is boosting Denver's housing market - Jun. 4, 2015

 
Old 06-10-2015, 10:37 AM
 
2,401 posts, read 3,255,451 times
Reputation: 1837
Quote:
Originally Posted by kevin_in_Denver View Post
I'll admit that most of my rental houses are in a "pot-friendly" neighborhood.

Rents have increased 25% in about a year and a half.

The single most important factor in this increase is legalization, but I seem to be one of the few landlords reporting this.

CNN has caught on:

How legal marijuana biz is boosting Denver's housing market - Jun. 4, 2015
Was wondering who provided this nonsensical information.

Turned out it was real estate agents.
 
Old 06-10-2015, 10:45 AM
 
Location: The beautiful Rogue Valley, Oregon
7,785 posts, read 18,817,826 times
Reputation: 10783
Quote:
Originally Posted by kevin_in_Denver View Post
I'll admit that most of my rental houses are in a "pot-friendly" neighborhood.

Rents have increased 25% in about a year and a half.

The single most important factor in this increase is legalization, but I seem to be one of the few landlords reporting this.

CNN has caught on:

How legal marijuana biz is boosting Denver's housing market - Jun. 4, 2015
Except the trend of higher prices and very tight rental markets is true all over the West, even in places where pot is not yet legal.

Portland rental property investment market rides low vacancy rate to top 5 ranking - Portland Business Journal
 
Old 06-10-2015, 10:50 AM
 
Location: Denver and Boston
2,071 posts, read 2,208,790 times
Reputation: 3831
I read the article. I just don't agree with the premise that legal MJ is the biggest reason for the increase in home prices. We would see a much greater increase in prices in those zip codes that have legal MJ, and we don't. I think the biggest reason for the continued increase in housing prices in Denver is the demographic of the Denver Metro area and its low crime and hostility rates vis a vis other liberal leaning cities.

If a tenant moves out of one of my rentals I sell it, so I can't comment on rental prices increases.
 
Old 06-10-2015, 12:15 PM
 
Location: In The Thin Air
12,566 posts, read 10,611,363 times
Reputation: 9247
"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."

Basically this guy is saying that there is no other contributing factors. Wrong. I agree that the legalization of pot has brought in new residents but it is still a blip compared what others are coming here for. Marijuana is not the sole reason for the rising rents and property values. That is laughable.

That being said did any of you see the segment on 60 Minutes on Sunday about the Denver Pot World?
 
Old 06-10-2015, 12:42 PM
 
463 posts, read 320,434 times
Reputation: 814
Quote:
Originally Posted by Timmyy View Post
"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."

Basically this guy is saying that there is no other contributing factors. Wrong. I agree that the legalization of pot has brought in new residents but it is still a blip compared what others are coming here for. Marijuana is not the sole reason for the rising rents and property values. That is laughable.

That being said did any of you see the segment on 60 Minutes on Sunday about the Denver Pot World?
I think it is the raw land and industry markets he is mostly referring to. Everyone agrees that empty warehouses and land to build warehouses on were snapped up quickly once legalization occurred.

Still, I believe the residential market, and especially the rental market, has had a bigger bump from legalization than most give it credit for. Not the main reason, but definitely a contributing factor.
 
Old 06-10-2015, 12:50 PM
 
Location: Denver, CO - Capitol Hill
557 posts, read 810,587 times
Reputation: 519
Quote:
Originally Posted by Timmyy View Post
That being said did any of you see the segment on 60 Minutes on Sunday about the Denver Pot World?
What was the gist of it?
 
Old 06-10-2015, 12:55 PM
 
26,208 posts, read 49,012,208 times
Reputation: 31756
Quote:
Originally Posted by Timmyy View Post
...did any of you see the segment on 60 Minutes on Sunday about the Denver Pot World?
This link may work to access that segment.....
__________________
- Please follow our TOS.
- Any Questions about City-Data? See the FAQ list.
- Want some detailed instructions on using the site? See The Guide for plain english explanation.
- Realtors are welcome here but do see our Realtor Advice to avoid infractions.
- Thank you and enjoy City-Data.
 
Old 06-10-2015, 12:56 PM
 
Location: In The Thin Air
12,566 posts, read 10,611,363 times
Reputation: 9247
Quote:
Originally Posted by JD401 View Post
What was the gist of it?
Check it out for yourself: Colorado Pot - CBS News

I found it interesting to say the least.
 
Old 06-10-2015, 05:31 PM
 
Location: Wash Park
207 posts, read 480,831 times
Reputation: 157
Default 50% of newcomers cite pot

When I chat with prospective renters, 50% of them mention growing pot. Granted, I put the keyword 420 somewhere in the Craigslist ad.

Many of them have had illegal growing experience in other states, but they want to keep the easy income stream, so they've come to Denver to avoid that stress. Others are just users, but have been hassled by police too many times. Still more are starting a new career in the industry. All have a respectable "nest egg" that they brought to Denver to get them through the first few months.

Denver also has the most robust microbrewpub industry in the world, but I'm rarely chatting about beer.

1993 brought us a huge upswing in rents and new people, but I couldn't identify an industry that was driving it then.

The only way to understand it is to run housing ads and answer phones.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Colorado > Denver
Similar Threads

All times are GMT -6. The time now is 01:30 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top