Lake Worth news from business reporter Jeff Ostrowski: “Weed is good for home values, real estate economists find”.

But first, this is very important:

If you’re a reporter, intern, or staff for The Palm Beach Post and are still rattled over what happened to you just prior to “monster storm” Irma impacting Palm Beach County, medical marijuana may be a solution:

“[P]ublisher Tim Burke told the employees
via email . . .”

Please contact your health care professional or call the medical marijuana dispensary Modern Health Concepts (MHC) at 877-303-0741 today. MHC is opening a new facility soon in the City of Lake Worth, conveniently located at 1125 N. Dixie Hwy. Use this link for more helpful information, e.g., “Search Our Network Of Marijuana Doctors”.

Now for the recent news from reporter Jeff Ostrowski:

“With Palm Beach County’s first medical marijuana dispensaries poised to open soon in Lake Worth, here’s a bit of heartening news for nearby homeowners: Pot shops are good for home values. [emphasis added]
     According to a study published in the academic journal Real Estate Economics, single-family homes within 0.1 mile of Denver’s 103 pot shops saw an increase in value of 8.4 percent compared to those located a bit farther—between 0.1 miles and 0.25 miles—from dispensaries. That increase in property value was estimated to be $27,000 for a typical house.”

Moussa Diop, an assistant professor of real estate
at the University of Wisconsin is quoted
in Ostrowski’s article:

“This suggests that in addition to the sales and business taxes generated from the retail marijuana industry, municipalities may experience an increase in property taxes. It’s an important piece of the puzzle as more and more voters and policy-makers look for evidence about the effects of legalizing recreational marijuana, as the issue is taken up by state legislatures across the country.”

and lastly, as reported by Ostrowski. . .

“As of early September, 17 medical marijuana dispensaries had opened in Florida, including locations in Miami, Jacksonville and Tallahassee.”

Make sure all your friends and colleagues in the Real Estate business here in the little City of Lake Worth get this latest breaking news!