Analysis: States with Legal Marijuana Sales Experience Big Boost in Home Values
St. Louis, MO: Home values have appreciated to a greater degree in states where cannabis is legal as compared to those jurisdictions where it is not, according to an analysis published by the online service Clever Real Estate.
“Home values in states with recreational cannabis have outpaced home values in other states by $48,983 over the past decade,” the study found. “Of the ten states with the largest increases in home values, seven have legalized recreational cannabis. Meanwhile, of the ten states with the smallest increases in home values, nine have not legalized recreational cannabis.”
At the local level, authors reported: “There’s a notion that dispensaries hurt property values, but the data shows cities in recreational states that have dispensaries report better home-value growth than cities without dispensaries in legal states. … Cities in recreational states with dispensaries have seen home values grow $168,292 since 2014, $67,359 more than the $100,933 growth in cities with legal recreational cannabis but no dispensaries.”
Authors of the analysis concluded, “States that haven’t legalized recreational cannabis are missing out on a range of economic benefits, with one of the biggest being a rapid appreciation in home values.”
The report’s findings are consistent with those of other analyses reporting an association between the establishment of legal marijuana businesses and elevated home values.
Full text of the report, “States with Legal Cannabis See $49,000 Boost on Home Appreciation,” is available online.
Study: Consumers of CBD Products Reduce Their Use of Other Medications
Chicago, IL: The short-term use of oral CBD products is associated with a decrease in patients’ use of prescription and over-the-counter medications, according to data published in the journal Medical Cannabis and Cannabinoids.
Researchers assessed the use of various oral CBD products in a cohort of 1,160 subjects between the ages of 18 and 75. All CBD products were lab-tested for potency and purity before being provided to study subjects. Participants consumed CBD products ad libitum for four weeks.
Participants were most likely to report using CBD for purposes of pain management, reducing stress/anxiety, and improving sleep. Most subjects reported symptom improvements and better overall health following CBD treatment. Thirty-one percent of study participants “decreased or stopped their use of OTC drugs, and 19.2 percent decreased or stopped the use of Rx drugs” during the study – a finding that is consistent with other data.
Patients using CBD for pain relief were most likely to either reduce or eliminate their use of other medications.
Authors concluded, “CBD self-administration significantly improves self-perception of general health and decreases symptom severity, and as these improve, fewer OTC and Rx drugs are used.”
Data published last year in the journal Drugs & Aging reported that between 20 percent and one-third of older adults who consume CBD-dominant cannabis products for medical purposes reduce their use of prescription opioids and benzodiazepines.
Numerous other studies have similarly documented reductions in patients’ consumption of prescription and over-the-counter medicines following their use of medical cannabis.
Full text of the study, “Long-term, self-dosing CBD users: Indications, dosage, and self-perceptions on general health/symptoms and drug use,” appears in Medical Cannabis and Cannabinoids.
Study: Cannabis Associated With Reduced Use of Prescription Opioids Following Shoulder Surgery
Farmington, CT: Patients who use cannabis immediately following shoulder surgery are less likely to consume prescription opioids as compared to those who do not, according to data published in the journal Orthopedics.
Researchers affiliated with the University of Connecticut’s Department of Orthopedic Surgery compared opioid use patterns during the three days immediately following shoulder surgery in a cohort of more than 67,000 patients.
They concluded: “Patients in the cannabis group filled fewer opioid prescriptions and were prescribed fewer total MMEs [morphine milligram equivalents] in the first three days postoperatively. Results of this study indicate that patients who use cannabis products may use fewer opioids after proximal humerus open reduction and internal fixation.”
The study’s findings are consistent with those of other case-control studies reporting reduced opioid use among cannabis consumers following neck fusion surgery, wrist surgery, hip surgery, and knee surgery.
Full text of the study, “Cannabis use is associated with fewer filled opioid prescriptions after treatment of proximal humerus fractures,” appears in Orthopedics.
Connecticut: Regulators Amend Marijuana Purchasing Limits
Hartford, CT: Beginning December 1st, adult consumers will be able to obtain greater quantities of cannabis products in a single retail purchase, according to regulatory changes recently approved by the state Department of Consumer Protection.
The new rules increase transaction limits for adult consumers from one-quarter ounce of cannabis flower (or its equivalent) to one-half ounce.
Regulators initially limited consumers’ purchase amounts in order to ensure that retailers would maintain sufficient inventory to meet the needs of state-registered medical patients. Licensed regulators in the states dually serve both the adult-use and the medical cannabis market. About 48,000 patients in Connecticut are registered in the state’s marijuana access program.
Currently, there are 27 licensed dispensaries operating in the state.
Under the law, adults ages 21 and older may possess up to five ounces of cannabis in their home.
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