If you’ve been waiting for the right time to buy property in the American sunshine states, you might want to stop waiting and start purchasing.
Sherry Cooper, the Bank of Montreal’s chief economist, says that the combination of a huge gap between average Canadian and US home prices and a strong Canadian dollar is making American real estate a desirable investment. Writing in The Bottom Line, she also noted it was the best time to buy in nearly 40 years.
Canadians are the largest single foreign buyer of American properties in the “Sun and Sand States” (Nevada, Florida, and Arizona) but she says that buyers from Europe and Latin America are also making purchases.
As the US housing market continues to improve, the gap between prices will start to close so, Canadians, now is the time to act.