Countdown to Cannabis in Canada October 17th, 2018 Canada becomes the second largest country with a legal national marijuana marketplace. Uruguay launched legal sales last year, after several years of planning. Many are speculating how the decision will affect society and the economy. We as realtors will see inquiries from our clients as to what the impact of legalization on real estate will be and how will it affect residential property markets. If we look at what is happening in Colorado, the results showed that single family homes situated within 0.1 mile of a recreational marijuana store experienced an increase of 8 per cent relative to homes farther away. Whether Canadians homeowners also see a high, remains to be seen!
T O R O N T O has been discovered globally as a world class city! Following the likes of New York and San Francisco, investors are starting to show interest. Now that Toronto is on the world radar, the long term will be continued growth for years to come. And because of this the real estate market is rebounding, and early indications are that people are regaining their confidence to make the big purchases such as a house. There is a population growth in the GTA, and the demand is there with people that are looking to move up or move out. We expect upward pressure on prices to continue in the Toronto area for the balance of the year and hopefully into 2019.