In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Sunday, November 13, 2011

Vegas goes to Pot

by Calculated Risk on 11/13/2011 09:09:00 AM

From Ashley Powers at the LA Times: In foreclosure-plagued Vegas, empty homes go to pot

The home — with four bedrooms and 61 plants — was one of the smaller alleged grow operations authorities have dismantled this year. At another home, authorities seized 878 plants worth an estimated $2.6 million.

Las Vegas has a pot home problem. And like many of the region's maladies, it's tied to the housing slump.
"You can't have crime without opportunity," said William Sousa, a criminologist at the University of Nevada, Las Vegas. "And all those empty homes present an opportunity for criminal activity."

Major cultivators spend tens of thousands of dollars turning cheap homes into greenhouses.
This reminds me of a classic Jim the Realtor video: High on the Hill

Schedule for Week of Nov 13th
Summary for Week Ending Nov 11th