Toronto, Vancouver Home Sales Soar In Possible Return To 'Rapid House Price Gains'
The Greater Toronto and Greater Vancouver housing markets are growing tighter, and that could mean a return to rapid house price growth, a new report says. In a report issued Thursday, Capital Economics noted that the supply of homes on the market is shrinking, even as buyers are returning, pointing to stronger house price growth. “The recent jump in the home sales-to-new listings ratio seems to point to a renewed period of rapid house price gains, which would normally be matched by a pick-up in consumption growth,” senior Canada economist Stephen Brown wrote.
The total cannabis market in Canada , including medical and recreational cannabis products, is expected to generate up to .17 billion in The cannabis market is poised to have a major effect overall on Canada ’ s economy. One study from Deloitte Private pegged the potential economic impact
Cannabis in Canada . What you need to know. Find educational resources and information on cannabis laws and medical access. Cannabis in the provinces and territories. Know what is legal in each province and territory across Canada .
MONTREAL ― The recreational cannabis industry has been very good to some small cities in Canada, which are experiencing a “micro-boom” in their housing markets, a new report has concluded.
The report from real estate brokerage Re/Max points to a number of locations, particularly in central and eastern Canada, as boom towns to watch.
One it highlights is Smiths Falls, Ont., some 80 km southwest of Ottawa and home to a cannabis facility owned by Canopy Growth, one of the largest cannabis companies in the world.
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One of Health Canada ' s responsibilities is to provide the licensing and oversight framework for legal production of cannabis . The Cannabis Act establishes that an application for a licence must be submitted to Health Canada in the form and manner specified by the MinisterFootnote 1 and must
Another big Canadian pot company, Aurora Cannabis became even bigger in March by acquiring In addition to Canada , Cronos serves international markets , shipping its products to Germany, building The booming marijuana industry requires the services of a wide range of other businesses in their
That facility ― once a shuttered Hershey’s chocolate plant ― now employs more than 1,300 people, and the result is that home sales have jumped 27 per cent in that town and the average selling price is up more than 10 per cent.
“Demand is up and there’s a housing shortage in the region. We expect to see similar cannabis industry-related growth in other regions, as well,” said Christopher Alexander, executive vice-president and regional director at Re/Max Ontario-Atlantic Canada.
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The report also points to Leamington, Ont., where Aphria has a facility that employs 1,000. Home sales are up seven per cent and prices have increased nine per cent over the past year.
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Canadian cannabis companies with billion-plus valuations have dominated the public markets , but that could be changing as more U. S . cannabis companies are beginning to publicly list in Canada , with Cannabis plants grow in a greenhouse in Ontario, Canada . Photographer: Cole Burston/Bloomberg.
The total cannabis market in Canada , including medical and recreational cannabis products, is expected to generate up to .17 billion in total sales The cannabis market is poised to have a major effect overall on Canada ’ s economy. One study from Deloitte Private pegged the potential economic
The report also highlights Wentworth, N.S., and Altholville, N.B. as “markets to watch” thanks to growing operations in those areas.
So far, the economic impact of legal cannabis has been stronger in small communities, which makes sense, given that one grow-op can make a big difference in a small town.
In larger cities, the impact hasn’t been as noticeable, but Alexander thinks that could change. He notes that very few legal stores have opened so far in many larger cities, including Toronto ― just six legal stores, compared to some 50 in Calgary.
Once Ontario retail operations catch up to other provinces, he expects some producers will set up shop to be close to customers.
How do you destroy $77M worth of pot? Well, you don't put it in a pile 'and spark it up'
After running afoul of Health Canada this summer, Ontario cannabis producer CannTrust is now planning to destroy $77 million of its inventory and assets. The question, unanswered in the company’s Monday announcement, is: How do you destroy that much cannabis? Though the total is still unclear, it appears to be thousands and thousands of kilograms. Health Canada provided some guidance for the National Post on Tuesday. One acceptable method involves shredding the cannabis and mixing it with water and cat litter — or “other types of inorganic material” — to help break it down and mask the odour before composting or disposing it.
Learn about the current status of canabis (marijuana) laws in Canada , and the work being done to legalize and regulate it. About cannabis , process of legalization, cannabis in provinces and territories, driving laws.
Micro -cultivation licenses are better suited for those that planning on making a small-time cannabis business. They are awarded for businesses with If you were to be awarded with a micro -cultivation license you would be allowed to produce plants and seeds, but you wouldn’t be allowed to sell them if
“Sales will probably increase and you’ll see more and more companies moving in,” Alexander said in an interview with HuffPost Canada.
“I would have to think that Toronto is at some point is going to get in the game. At some point, somebody’s going to see that as an opportunity and go for it.”
Room to grow
He still sees a lot of upside for the economy, and for housing markets, as the cannabis industry matures.
“There’s still a lot of stigma attached to cannabis. It’s not fully socially acceptable still, so it’s going to have a ways to go.”
A consumer survey carried out by Leger for Re/Max found that two in 10 Canadians already live near a cannabis retail outlet.
And while some seven in 10 say it wouldn’t be a factor in any decision to move, 31 per cent say a cannabis store nearby would discourage them from buying a home, while a quarter said they would move if one opened up.
But not everyone is negative about the idea. Forty-four per cent of respondents said they would like to live near a cannabis store.
“It will be a really good revenue source for the country,” Alexander predicted, “and hopefully politicians and policymakers can put that revenue to good use.”
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Quebecers will soon have to be at least 21 years old to legally consume cannabis .
QUEBEC — The Quebec government has passed the most restrictive cannabis law in the country, voting to ban the consumption of marijuana in most public areas and to raise the legal age from 18 to 21 years. Beginning Saturday, Quebecers will be prohibited from consuming marijuana in public. But the law permits cities to adopt their own bylaws allowing people to smoke cannabis in specific public areas where no children are present. As of Jan. 1,Beginning Saturday, Quebecers will be prohibited from consuming marijuana in public.