In my blog last week Colorado pushes to legalize prostitution, I asked the question what are your predictions for real estate prices if Colorado votes to legalize prostitution. I was very surprised with the results of the survey. My base case was little change in real estate pirces, but the survey results were radically different. Who is correct and why?
What was in the survey data on Legalizing Prostitution in Colorado?
56% percent felt prices would fall while 44% felt prices would rise. The most surprising part of the statistic is that there was not a single person who felt prices would stay the same. It is a great example of the polarization on this topic but also throughout Colorado.
The crazy part is that although I am not in support of the proposal to legalize prostitution from a real estate perspective I didn’t think it would radically alter prices one way or another.
Top Comments on how legalizing prostitution in Colorado impacts real estate prices
The comments were pretty interesting from the survey, as you can see they are very polarizing either for or against the proposal.
- I’m not sure, but it seems it may play out similarly to the marijuana industry development. There will likely be specific districts designated for this activity. Those districts will see an increase in demand/prices. Over a period of time this impact will diminish.
- It should be legalized, responsibly regulated, and taxed highly. This would keep it off the streets, out of the alleys, and make it safer for workers and their clients.
- Legalizing prostitution will damage Colorado’s image as a family, friendly state and increase the opportunity for negative side effects in human trafficking, etc.
- I’m still muttering WTF, exactly what is going on in CO. Are these legislators BatS**t crazy or has the general population become so stoned out of their brains no one is watching the front door?? It’s unfortunate that it’s even a topic and the thought of trafficking is really scary. They should get to work by repealing the legislators and these bills!
Summary
The results from the last survey were surprising with not a single respondent predicting no/little impact if Colorado were to legalize prostitution. Long and short this topic shows the huge polarization emerging in Colorado on topics like prostitution. I would suggest our legislature focuses on more kitchen table issues like property taxes, insurance, overregulation of businesses, etc.. that has an impact on everyone’s wallets throughout the state. Thank you everyone who participated in the survey, your insights are amazing.
Additional Reading/Resources
- https://coloradohardmoney.com/legalized-prostitution-impacts-colorado-real-estate/
- https://coloradohardmoney.com/low-snow-year-impact-on-colorado-ski-real-estate/
- https://coloradohardmoney.com/denver-inventory-surges-and-yet-prices-rise/
- https://coloradohardmoney.com/vail-loses-major-lawsuit-should-you-only-buy-real-estate-in-a-vail-resort/
- https://coloradohardmoney.com/colorado-property-taxes-jump-40-percent/
- https://coloradohardmoney.com/category/survey-results/
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Glen Weinberg personally writes these weekly real estate blogs based on his real estate experience as a lender and property owner. He is the owner of Fairview Commercial Lending. Glen has been published as an expert in hard money lending, real estate valuation, financing, and various other real estate topics in Bloomberg, Businessweek ,the Colorado Real Estate Journal, National Association of Realtors Magazine, The Real Deal real estate news, the CO Biz Magazine, The Denver Post, The Scotsman mortgage broker guide, Mortgage Professional America and various other national publications.
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