They aren’t using it to grow, they’re parking their dough that they can’t legally put into a bank.
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So sorry to hear about your mother, Nate.
Over a quarter of purchases were cash only last month, which points to it being hedge funds and investment firms buying up everything so they can charge exorbitant rents. It’s disgusting and unsustainable.
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Gotcha. Here in SE MI they trying to grow and take advantage of the lax laws. Code changes are foiling the effort in some areas
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This guy is the Godfather of legal cannabis, he wrote the book, literally. He’s a fellow Northern Iowa graduate who hung at the bar I bartended at years later but we’ve got to know each other thru FB and other friends. He left Colorado for California and is a founding partner of Gold Flora and is the COO, they have over 640,000 sq feet of MJ under their roof. Houses simply don’t offer the scale that the real players are looking for.
That was him before California. Thi is his company today.
Don’t be a player hater, Jack!
j/k
With regards to the housing market, it’s funny to think that pot plays a part in it in certain areas. Feels a bit like the GPU shortage due to crypto mining.
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I’m not sure how much it actually does, but the guy I know is doing closings so he has at least some first hand knowledge. I do know that the Denver area, in fact the entire front range, is pretty much catering to hi end renters building facilities with incredible amenities and filling them as fast as they can build them. Indoor parking, pools, spa’s, etc. Ground is worth way more for hi density construction vs single family homes even if they start at the million dollar mark, we’re simply warehousing people today and they’re OK with it.
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