Buying U.S. real estate (your Arizona vacation home) can act like an exchange rate hedge and a portfolio diversification strategy for many Canadians and English. The crazy low U.S. dollar opens up new opportunities for Canadians and British who would like a place in the sun.
An Arizona home could be more expensive for our friends from Canada and England next year, if the U.S. dollar rebounds against their currencies.
British Airways has daily direct non-stop flights between Heathrow and Sky Harbor and we have excellent connections, of course, with Canada. A sunny, golf get-away, winter home is closer than you may think.
No better time to buy in sunbelt
The double whammy of falling U.S. real estate prices and a rising loonie have created a once-in-a-lifetime bargain for Canadians looking for property in the U.S. sunbelt states.
“I love the Canadian dollar at parity,” said Ms. Cooper this week in a economic note. “We are truly richer, as the money we earn and the money we invest is worth more.
Looking at exchange rates, an Arizona home is 12% cheaper for Canadians, 3% cheaper for the British and 6% cheaper for the French than it was in January… just 9 months ago.
3 responses so far ↓
1 badgerbacker // Sep 23, 2007 at 7:02 am
Canadians love Arizona. We sold a furnished vacation home to a Canadian couple back in May. Hopefully, Canadians will help prop up the market some.
2 Paul Cooper // Sep 23, 2007 at 1:23 pm
Did anyone else notice that the 10 year treasuries (what mortgage rates are based of) actually went UP instead of down after the rate cut? The 10 year is actually UP 30 basis point since the rate cut instead of down. Commodities also rocketed since the rate cut. Are markets starting to price in hyperinflation ahead?
3 How Arizona home prices look to Canadians | Arizona Real Estate Notebook // Jan 10, 2008 at 11:24 am
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