During the summer of 2017, the first Ottawa Canabis and Hemp Expo took place in Canada’s capital [1]. It served two main purposes: to help people learn about the medical marijuana business and to educate them on how recreational marijuana can change the business after the legalization of marijuana in July 2018. Peter Jamieson of OrganiGram says, “three and five million Canadians are using cannabis on a regular basis, on a daily basis in Canada. Once recreational marijuana is legalized, the number of people using it is estimated to grow by another six million. There is also growing demand for cannabidiol oil, which is consumed for pain relief.”

(Above) displays of marijuana at the Expo in Ottawa (CBC).

Business-wise, cannabis is an untapped  potential in the Canadian markets of which many foresee great growth. At full capacity, MYM suggests that it can produce more than 150 metric tons of cannabis per year, which would be worth about $750 million. In a recent release [2], the “Weedon Project” has apparently expanded to include a cannabis education centre, a cannabis museum, a 2,500-person auditorium, and a 22-room hotel.

Some discourage the business due to the lack of Canadian consumption of marijuana. Maclean, The Canada Project Based on Maclean’s statistics [3], 84 per cent of surveyed people over the age of 18 never smoke marijuana. It’s also stated that out of the 16 per cent of Canadians that do, only 5% smoke daily and 3% smoke frequently weekly. Deloitte, on the other hand, stated that 22% of Canadian adults uses marijuana [4]. Based on the statistics, Deloitte suggests that the value of recreational marijuana will likely increase to $8.7 billion. Deloitte also included another 17% of surveyed people who said they “might” try marijuana if legalized and concluded that “40% of the adult population” may eventually  use marijuana.

(Above) taken from (Globe and Mail).

As a young adult who has never tried cannabis and and would not be inclined to start on the expense of ruining my health, I don’t see myself engaging with marijuana as part of the “40% of the adult population” in the near future. I see potential in the development and expansion of the marijuana market once the drug is legalized, but I’m much less optimistic than Deloitte in believing that it’ll become an 9 billion marketplace where nearly half the Canadian population would indulge in. As of now, since cannabis is consumed by a minority of people and is still considered illegal, I find Maclean’s report more accurate and that businesses shouldn’t make such huge assumptions on the profitability of the market. I’d also like businesses to consider whether or not this such a market is ethical to pursue and encourage, especially since there are many known health implications that come with high use of the substance.

_______________________________________________________________________

Word Count: 446

[1] taken from CBC

[2] taken from Macleans

[3] taken from the The Canada Project

[4] taken from Deloitte

Out of a few peer blogs that I’ve read, Sophia Prieto’s blogpost [1] on housing affordability for retirees in Vancouver stood out to me. Since the issue she researched is based here in Vancouver, I found her blog very refreshing and relevant. In her blog, Prieto talks about a false assumption that many retired residents have about owning a house to supplement their retirement. She states that the present value of homes in Vancouver might change in drastically in the future, le-

(Above) Affordability crisis for retirees (vancitybuzz.com)

aving the retired home owner to less desirable alternatives, such as giving up their homes for smaller houses, selling or renting out their home, or taking on a reverse mortgage. In this case, Prieto suggests retirees to avoid debt and financial vulnerability by investing into saving accounts, registered retirement plans, and Canada’s pension plan.

After reading the blog, I realized that my chances of purchasing a substantially large retirement home in Vancouver without some degree of critical financial worry seems grim. However, I then found a CBC article [2] featuring a slightly-over-30 couple who have retired last year and have thrived within the expensive real estate markets of Vancouver. The couple’s secret is their rejection of an expectation that society imposes on us: home ownership. While Leung calls the standard a “cult,” Shen argues alongside her husband that the best way to achieve financial freedom is to “[d]itch the house.” The two both led successful careers as computer engineers, but when an unsuccessful investment of half a million dollars in a house went down the drain, the couple decided to invest their remaining $500,000 into stocks and fixed income investments. Through careful investment and savings, the couple doubled their money to $1 million in a year, quit their jobs, and traveled the world without the need to ever pay rent.

(Above) Shen and Leung save their money to travel the world (cbc.ca)

If following the couple’s manifesto is the path to financial stability, I would gladly give up the idea of settling down in a nice, spacious house after retirement. However, there are some factors that make me question the viability of Leung and Shen’s method of living. Would I have saved up enough money to afford travel expenses? Would I get a good return from my half-a-million worth of investments from a constantly fluctuating market? Could I even make or save half a million dollars to invest with in the first place? After weighing the possibilities, I’m convinced that Prieto’s advice on investing wisely into retirement plans and moving into smaller houses in the suburbs is likely the most feasible method for most retirees in a city like Vancouver.

_________________________________________________________________

[1] Taken from blogs.ubc.ca

[2] Taken from cbc.ca

Word count: 447