Grow BC? How Much Longer?
BC has long been a source of marijuana for US export. The grow industry is larger then the forestry industry in BC.
California currently has a referendum question on the ballot for November 2 elections. Should we tax pot?
The taxing of pot will provide a windfall tax benefit to a cash strapped state. It will effectively legalize “mary jane” and with it the illegal pot industry.
The legalization of the pot industry will force prices down since access to the distribution of pot will no longer be controlled by gangs.
What does this have to do with real estate in BC? The business is huge in BC. Bigger then forestry, bigger then agriculture. Money from grow ops, many mom and pop operations, goes to fund real estate purchases. A drop in price will mean a large drop in profits to those growers and their ability to support inflated BC real estate values.
If California legalizes pot it is likely that several states and one province , BC, will follow suit. Why? The money honey. The taxation of a business that is larger then the forestry business will provide a tsunami of tax dollars to the BC government.
A government that after the greatest period of prosperity in BC history cannot afford to put school books in the hands of children and is rationing health care to seniors. Critics will find it hard to argue the taxation of a plant and culture that is endemic to BC.
The writer is a BC mortgage broker whose expertise in bad credit mortgage applications helps people buy homes
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Tags: california, distribution, find-it-hard, forestry, greatest, greatest-period, mortgage, Mortgage Broker, mortgage rates current, real estate, several-states, taxation, the-forestry
