News

Weekly Cannabis Roundup August 6

Lo

by Lo

August 6, 2021 08:30 am ET

Ohio might soon legalize the recreational use of cannabis for adults. A research study shows that cannabis legalization will up your property value and billionaire Charles Koch is putting $25million toward lobbying for federal cannabis legalization.


Video Transcript:

Ohio gets its first recreational legislation proposal

and a new study shows that cannabis legalization increases property values

This is Lo with Veriheal keeping you up to date with the latest in cannabis news.

Research Shows That Cannabis Legalization Boosts Property Value

If you were scared that marijuana legalization would decrease your home value, worry not! 

A new study by Clever Real Estate used data from Zillow, and the US Census among others to explore the relationships between residential property value and cannabis legalization. 

The report found that cannabis legalization leads to higher property value

Further, recreational states that add retail dispensaries see better gains than states that limit use to medical only.

Some key takeaways from this study discovered that:

  • From 2017 to 2021, property values increased by over $17,000 more in recreational states compared to medical states
  • Cannabis taxes drive new investment in areas such as public service and infrastructure which ultimately drives higher demand in real estate leading to higher property values and revenue
  • Higher home values are positively correlated with cities with more dispensaries, which shows that legalization boosts jobs and economic growth

So, if you’re in the market to buy a home, definitely consider looking into a state with legal cannabis. 

Ohio Introduces Adult Use Legislation

Next in news, Ohio might soon be one of the next states to consider legalizing recreational cannabis 

State Reps. Casey Weinstein and Terrence Upchurch introduced a new bill to decriminalize cannabis, and also create a regulatory infrastructure

The measure proposes legalizing up to five ounces for possession for adults 21 and older, allows up to 12 plants for home cultivation as well as expungement for prior cannabis convictions 

Upchurch stated, “ This bill is more than just about legalization, it’s about economic and workforce development, it’s about decriminalization, and it’s about healthcare! The time is now, and I look forward to getting this done in a bipartisan fashion.”

So, if you’re in Ohio, stay tuned! 

Charles Koch to Fund Lobbying for Federal Cannabis Legalization  

And lastly, 

Federal cannabis legalization might finally have a substantial financial backing

Billionaire Charles Koch, the CEO of Koch Industries who is known for funding various libertarian and republican causes, recently announced that he’d be putting $25 million of his $45 billion fortune toward helping influence cannabis legalization

In an interview for Forbes, he stated, “It should be the individual’s choice. Prohibition is counterproductive. It ruins people’s lives, creates conflict in society and is anti-progress. The whole thing never made sense to me.”

While the uncertainty remains for Sen Schumer’s federal legalization proposal, will Charles Koch be the hero that sways the much needed Republican vote? 

Let us know your thoughts! 

So go ahead and like this video and give us a follow at Veriheal for the latest in cannabis news

Thanks for watching! 

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