How High Did the Booming Real Estate Market Get?

by Alex Stenback on December 12, 2007

Very high, apparently:

"Most of the marijuana grow operations uncovered are in single family homes, some in upscale neighborhoods. Some growers are purchasing a home to use it for the sole purpose of growing marijuana, often paying someone to live in the homes to tend to the plants. Stanek says many operations are also linked to mortgage and real estate fraud."

Big Money, Violence Behind Minneapolis Marijuana [Fox9]

{ 2 comments… read them below or add one }

Rick Marnon, Howell December 12, 2007 at 4:06 pm

This is something I could not dream up. Buy a house with the sole purpose in mind to grow marijuana. I like the shameless blogvertisement.

John Hoff December 12, 2007 at 9:40 pm

So if there has been a grow operation there in the past, and the federal government uncovers evidence of that (even after the operation is gone) is there any possibility the feds might just seize the house?

When I worked as an assistant landlord in Seattle, we rented units to college students. And we worried that federal drug laws were so strict and scary that some hypothetical college kid growing hydroponic pot in a closet (unknown to us) could lead to the seizure of our building.

The mortgage fraud thing just gets bigger and bigger. I keep wondering when all this fraud is going to start making it impossible to get title insurance.

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