Real estate's marijuana bounce
The legalization of weed may be giving an assist to the commercial real estate industry, according to a member survey by the National Association of Realtors.
Why it matters: More states legalizing weed equals more demand for space to store, grow and sell it.
- Over one-third of respondents in states where weed has been legalized the longest cited the marijuana industry as one of the many reasons why real estate inventory was tight.
- In states where weed was legalized more recently, 23% partially blamed the industry for limited inventory.
On the residential side: Almost half surveyed in states where medical and recreational marijuana was legalized before 2016 reported lease addendums that restrict growing on the property — compared to one-quarter or less in other states.