The Marijuana Housing Boom in Denver

The Marijuana Housing Boom in Denver

Marijuana legalization increases economic activity. Legalization activists have been saying this for years. Opponents have always said that activists are overstating the impact legalization will have. Now we get to say “I told you so” and really rub it in their faces. The classy thing to do would be to just take the wins and leave it at that. But legalization opponents want us in jail, so I’m not feeling like I’m in a classy mood.

If I could put a tongue-sticking-out emoji right here, I would. That would be for all those who are against an end to cannabis prohibition. We told you so. We were right, you were wrong. You are a moron. Get the picture?

Take Denver for example. Recreational cannabis sales started there in January 2014. Since then an economic boom has taken place across the city, as it has across Colorado. Job growth in the marijuana industry has brought employment seekers from around the country. The rising demand for housing in the area has caused housing prices to climb. In March alone, home prices in Colorado’s capital rose 10%.

"The pot industry is creating jobs we didn't have before," said Kelly Moye, a Re/Max real estate agent who has worked in the area for 24 years. "It's brand new, it adds a whole new factor to the area; you have real estate needs, housing needs, job needs."

The key to economic activity is jobs. Jobs lead to people spending money, which leads to more jobs. The great thing about the marijuana industry is that the demand is already there. All that needs to be built is the legal retail framework. Someone needs to build that framework and run it.