Well, international monetary traders are betting on the U.S. dollar appreciating against the euro. Don’t know their outlook regarding the Canadian dollar exchange rate.
Canadians planning to buy an Arizona home might want to consider getting their ducks in a row (that is getting their (Canadian) home equity line of credit completed) and putting some of the money they plan to use to buy an Arizona home into a U.S. dollar denominated account at their local Canadian bank to help hedge their exchange rate risk. [add your own punctuation]
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Cbass 05.04.08 at 3:00 pm
John do you have any stats on RE purchases by the Canucks in AZ? I am just curious as I keep hearing how the Canadians are going to swoop in and buy up all this cheap AZ RE as well as how they are coming in to the US to buy up all of our cheap goods in cities like NYC. I just can’t see that being the case, but hey what do I know maybe they have increased their US spending. Some numbers of course would help us confirm or deny this alleged invasion caused by our Feds policy of debasing our currency. I think it is all made up by the media to spin but that is just my opine at this point and unless I get some details I am going to stick with it.
John Wake - Real Estate 05.04.08 at 7:27 pm
Cbass, Just for me, I was out with Canadians today and will be tomorrow. I was out showing homes to a different Canadian couple yesterday and the day before. My last two home sales were to Canadians.
Brian McMorris 05.07.08 at 5:22 am
But, is this more to do with the strength of the Alberta Energy economy, or the “cheapness” of Arizona real estate (cheap compared to 2006, that is)? I think AZ real estate is only cheap in the context of $120 oil in Alberta (and ohhh how those Ft. McMurray, Edmonton and Calgary real estate prices have shot up the past 10 years!!!
As mentioned, I know of many Ontario Canadians that have retired in Florida. I even met a couple from St. John’s (which is closer to Iceland than New York) that had a place in Orlando. So, this trend is not new.
But there are only 33 million Canadians in total (about the population of California) and of course, most of them cannot afford to retire in AZ. So, I think, like CBass, that this is a media hyped anomaly. John, the fact you promote yourself via this site, to Canadians looking for AZ homes, makes your experience an outlier.