Canadians Back to Investing on Home Soil
The Canadian media and a new annual property report have highlighted a new trend in Canadians withdrawing from the U.S. market to buy recreational properties north of the border.
According to the latest data, an increasing number of Canadians are turning away from the United States, in favor of buying properties back home. There are many reasons for this, from simple patriotism to the superior economic strength and property returns at home.
Recent media reports in June 2014 also highlight the weaker dollar and rapidly rising U.S. home prices as additional motivators for Canadian investors repatriating their capital.
Many consider the United States’ housing market has rebounded too fast and is now overpriced in some areas. Others are now just able to finally cash out and sell their Florida homes after years of depressed values and demand.
There are also those that flooded the depressed American property markets in Michigan and Arizona, only to discover their investments did not pan out as planned.
For these reasons, Canadians, especially Albertans are now using their extra capital from selling off U.S. properties and are purchasing recreational properties in other provinces.