It’s the old saying “Buy low sell high”.
The exchange rate with the loonie is currently hovering around 71 American cents – a reversal from six years ago when the loonie was around par with a U.S. dollar and 2011 when it equaled $1.05 At the same time the loonie was strong housing prices in much of the U.S. took a dive, triggered by the 2008 subprime mortgage meltdown and an economic boom gone bust.
Canadian snowbirds and investors, eagerly swooped into hot spots like Florida to buy a piece of sunny real estate at really low prices. Today thanks to a strengthening economy, economist calculate that U.S. housing prices in a number of markets have shot up between 30% to 50%.
In 2009 to 2013 when the loonie was stronger almost all Canadians were Buyers. Today about 80% of those buyers now want to sell. Even with added costs such as possible capital gains tax, many Canadians still come out far ahead.
If I can help you or anyone you know needing real estate advice, please call or email me;
Donna Bishop phone: 239-560-36149 or email me; firstname.lastname@example.org