Cannabusiness

Legal Marijuana And Property Values

Published

1 year ago

November 13, 2023

admin

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.

RELATED: Great Fall Whiskeys

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.

Source link

Blackout Wednesday

Marijuana Continues To Be Embraced By The Mainstream

Published

2 weeks ago

December 6, 2024

admin

Despite a naysayers in DC, the public has embraced wed in a big way

In 2012 Washington and Colorado legalized weed for recreational use, since then 22 more states have followed and 38 states have medical marijuana. Over 50 perfect of the population has access and it has become popular with all ages. Even the “war on drugs” generation of Boomers have embraced with AARP explaining many use it for the medical benefits. From Martha Stewart to Fox News, the plant is treated as a another consumer product and as a business line.

For adults aged 35-50, past-year marijuana use reached an all-time high of 28% in 2022, more than doubling from 13% in 2012. This trend reflects a broader increase in marijuana use across different age groups. Gen Z has taken a different approach by embracing the California Sober concept replacing alcohol for the healthier marijuana.

Reflecting the mainstreaming, Michigan, a midwestern state, is breaking another year over year sales record. The states has already clocked $2.4 billion in sales and expects to hit $3 billion for 2024. This will secure the state more tax revenue from cannabis than alcohol again. Marijuana has been a reliable source of income for states since legalization.

Taking a page from traditional departments stores, Planet 13, the largest dispensary in the North America has introduced the “store in store” concept. Department stores have used the concept in the beauty department and high end lines like Chanel and Louis Vuitton. Khalifa Kush will be the inaugural brand offering exclusive merch and strains.

“Since we launched earlier this year, we’ve loved having the Khalifa Kush store-in-store at Planet 13 be the home of the brand in Vegas. We’re working on something special for the lounge that’s going to drop early next year — we can’t wait” shared Wiz.

“Our partnership with Wiz Khalifa is the perfect example of authentic celebrity-driven branding — since we signed Wiz, it is the fastest product partnership in terms of sales activity in the history of Planet 13. Authenticity is about more than just an endorsement and with Wizit’s a match made in cannabis heaven. We look forward to Wiz visiting the store more often, meeting his fans and enjoying Dazed! Consumption Lounge when he is in Vegas. “Planet 13 = Experiences and Memories!” stated Lee Fraser, Chief Administrative Officer, Planet 13

The Las Vegas based 112,000 square-foot Planet 13 Entertainment Complex has become the flagship destination for celebrities to showcase the top brands in the industry. Cannabition, another major attraction in the footprint will be opening soon and is an elevated immersive experience.

Cannabis has also joined alcohol in celebrations. The day before Thanksgiving is one of the top 5 drinking days in the US. Some much so the industry refers to it as “Drinksgiving” and “Blackout Friday“. The public has also made the day in the top 5 of consuming, dubbing the day Green Wednesday.

Source link

Cannabusiness

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

Published

1 month ago

November 20, 2024

admin

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

Source link

Altria

Can Little Cannabis Help Big Tobacco

Published

1 month ago

November 19, 2024

admin

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.

Source link