Friday, September 01, 2006

Elk Grove's "Pot House" Bubble

There is an excellent post over at the SacRealStats blog that maps out the pot-farm-in-a-house phenomenon plaguing the flipper neighborhoods of suburban Elk Grove.


Van Housing Blogger said...

In Vancouver we call them 'grow-ops', ie grow operations.

BC Hydro just provided the RCMP (federal police) with a list of 18000 houses with abnormally high electricity use.

It's a real big problem around here in the home of BC Bud.

Happy Renter said...

I heard on the radio they busted 20 pot farms. Last year they were busting brothels in Elk grove.All this in new developements. Instant slums.

B. Durbin said...

There's a lady in my church choir who just got into real estate (and says that the "kids" who got in in the last few years are leaving in droves because they didn't realize that you need to work— as a workaholic, I'll think she'll do okay) and she pointed out something interesting that she apparently heard through her job:

The vast percentage of these pot housees were sold by one realtor.

As she said, you can bet he knew something was going on.

Anonymous said...

This is probably the tip of the iceberg.

Who else are the idiots going to rent to?

In the last three years anyone that could fog a mirror could get a loan from the whore lenders that are "preferred by the Developer"

All the FB's that lose their homes to foreclosure or pot farmers are the current rental pool.

Anonymous said...

The DEA can do an asset seizure and take the lender's home away and sell at auction.