Author: Bill Bewick

Real Estate Reefer Madness

No one has yet figured out how to cash in on the windfall profits promised by the legalization of marijuana. Nevertheless, two retail pot shops in greater Vancouver were just listed for sale on the MLS – one of them for a staggering $8.5 million. Technically, neither is yet a revenue-generating business, with both remaining in the “final phase” of provincial approval. It does seem like a form of reefer madness and, as Bill Berwick’s analysis suggests, few will profit from the legal retailing of pot as government-run stores need to compete with the black market, which has produced a mature and efficient – plus tax-free – retail system. Moreover, writes Berwick, the three levels of government are mired in confusion, with policymakers enveloping the pot retailer in regulation and red-tape.

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