The Financial Post
reported that data from Canadian Forex showed a 100 per cent increase in the level of cash coming back to Canada from U.S. home sales in 2014, compared to the previous 12 months.
Although mortgage rates are low in the U.S. they are still higher than Canada’s and the uncertainty in the U.S. housing market is prompting a sell-off rather than betting on prices increasing further.
Investment in property south of the border is also declining. However with an ageing population that may yet choose to retire to popular locations, such as Florida and Arizona, it could be just a temporary shift.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Rosalind, Boswarlos, Tappen, Berwick North, Dublin Shore
More Canadians are choosing to cash in their snowbird homes in the U.S. as the increased home prices and strength of the U.S. dollar make it a profitable time to sell.