Cannabusiness

Legal Marijuana And Property Values

Published

1 year ago

November 13, 2023

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Ohio just became the 24th recreational legal state and over 50% of the country live where you can got to a dispensary and buy a pre-roll, gummies, etc. States with legal weed benefit greatly from tax revenue, usually more than alcohol review and crime doesn’t increase. But what about legal marijuana and property values?

On average, in states where recreational marijuana is legal, cities with retail dispensaries saw home values increase $22,888 more than cities where marijuana is illegal from 2014 to 2019 according to the National Association of Realtors (NAR).

In general, states with full legalization are also states with a younger population and a larger industry bases, attracting a more broadminded population. Also, a Gallup poll suggested household with over $100,000 income are most likely to support legalization.

Legal Marijuana And Property Values — Photo by Kindel Media from Pexels

There are downsides in the home real estate market for cannabis users. Like tobacco, weed can leave an oder in a home which can directly affect selling/leasing a property. A survey by NAR released in April of 2023 discovered in states where medical marijuana is legal and roughly two-fifths of members in states where both medical and recreational marijuana are legal had no issues leasing a property after the use of marijuana in a property (similar to 2021). When there were issues, the most common issue was the smell, which 30 to 35 percent of these members had encountered.

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With commercial real estate, there is also interesting data. States where medical and recreational marijuana use is legal, there has been an increased demand in warehouses and storefronts. There is also an increase in property purchasing over leasing in the past year, the majority have seen the increases with warehouses, followed by land, and storefronts.

Another study shows residential property values in legal states outpaced those which still ban marijuana by $48,983 over the past decade. This recently released research is from Real Estate Witch, an online publication owned by Clever Real Estate.

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Cannabusiness

6 Eco-Friendly Cannabis Brands Making a Difference in New York

Published

2 days ago

November 20, 2024

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Welcome to the ultimate guide to green and clean cannabis in the Big Apple. From organic cultivation practices to innovative eco-friendly packaging, these brands are redefining how we think about cannabis consumption. Let’s explore how we can indulge while helping the Earth breathe a little easier.

https://theemeraldmagazine.com/6-eco-friendly-cannabis-brands-making-a-difference-in-new-york/?utm_source=brevo&utm_campaign=MAG%20November%2013%202024&utm_medium=email

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Altria

Can Little Cannabis Help Big Tobacco

Published

3 days ago

November 19, 2024

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Tobacco has long been an economic giant…but is cannabis upending the system?

From the Marlboro Man to Virginia Slims, smoking a cigarette has been iconic. Movie stars, Santa Clause and more encouraged their favorite brands. Soldiers in war received complimentary cigarettes as part of their rations. But when Fred Levine won the famous tobacco lawsuit, the industry reign as a top dog rapidly started to diminish. But can little cannabis help big tobacco? Marijuana has recently surpassed tobacco in popularity among Americans. Currently, 16% of adults report smoking marijuana, compared to only 11% who smoke cigarettes. The power tobacco industry could expand but increase their stake in cannabis.

In the United States and Canada, cigarette consumption peaked in 1965 at a staggering 4,259 cigarettes per capita annually. During this period, about 50% of men and 33% of women smoked regularly. The tobacco industry’s influence extended far beyond sales, shaping culture, advertising, and even medical opinions. “Big Tobacco” includes Philip Morris (now Altria), R.J. Reynolds, British American Tobacco, and Imperial Tobacco were and are key international corporations and used to be big players on the stock market.

A key concern is the change in demographics. Nearly a third of respondents under 35 say they smoke marijuana compared to 8% of young Americans smoke cigarettes at least once a week. A drastic trend which will be hard to change. Gen Z has always drifted away from alcohol and started the California sober movement where they only consume marijuana and don’t drink. The alcohol industry has a stake with over $12 billion invested.

While not at the same level, Big Tobacco seems a future in the plant. Altria Group, the parent company of Philip Morris USA, made one of the largest investments by acquiring a 45% stake in Canadian cannabis company Cronos Group for $1.8 billion. British American Tobacco (BAT) has also been actively investing in cannabis. Imperial and Phillip Morris have shown interest but have yet to make a major play.

Big Tobacco has the clout, cash and cleverness to take marijuana to the next level in not only the US but around the globe. They can make cannabis an international juggernaut not only recreationally, but medically.

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Cannabusiness

11 Women-Owned Cannabis Brands in New York

Published

1 month ago

October 19, 2024

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Women’s representation is transforming the cannabis industry, and New York is leading the way with a range of women-led brands. As of May 2024, 42% of recent social and economic equity cannabis businesses licensed by the state’s Office Cannabis Management are women-owned. These entrepreneurs are reshaping the industry, bringing fresh perspectives and innovative ideas that elevate the industry to new heights. From artisanal edibles to pet products, these brands highlight the importance of women’s leadership in driving quality, sustainability, and community impact. Explore how these influential women are setting new standards:

https://theemeraldmagazine.com/11-women-owned-cannabis-brands-in-new-york/?utm_source=brevo&utm_campaign=MAG%20October%2016%202024&utm_medium=email

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