As U.S.-Canada tensions rise, so do Canadian condo opportunities. Reports have begun to circulate that indicate Canadians are becoming more and more concerned about vacationing south of the border, with the concern growing among those with vacation properties there. Since the start of the tit-for-tat tariff battle, many Canadians have been boycotting the US by swearing off of American made products and even refusing to step foot across the border. While it is easy to discount this as an emotional reaction that has been exaggerated in the press, air and vehicle traffic numbers confirm the reality; travel volume is noticeably down. Aside from the bias that most countries have been facing, the general bias in the US against foreigners from any country is making Canadians apprehensive to visit, let alone buy or keep property there. Today, let’s talk about what it might be like to own property in the US right now and discuss some options.&nbsp;The Calgary Herald says Canadians are already selling their American properties. They say almost nobody is buying right now due to the weakened Canadian dollar plus the tumultuous climate between our country and theirs. They say a massive chunk of Canadian sellers are citing the political environment in the US, saying they do not trust it. According to the Calgary Herald, there has been a 700% increase in Canadians listing properties in Phoenix, Arizona, for example, between January and March of this year compared to last year. in fairness, they also say that many Canadians are choosing not to sell, with one Canadian property owner saying that Trump only says heated things like Canada becoming the 51st state “because he knows it gets a reaction from people.” That Canadian property owner has said that many Americans disagree with Trump’s anti-Canada remarks and often apologize on behalf of the US.&nbsp;Aside from President Trump’s annexation “jokes” and the tariff implications, the US president has also made several comments about Canada being economically useless for the US. While the immediate reaction is often to reference our oil, gas and commodity trade, the Calgary Herald points out another way this is not true is because snowbirds contribute greatly to the American economy. Business Insider says that Canadian investors are the top foreign buyers of American real estate. Many snowbirds are deciding to divest from the US economy and “be supportive of our own country”, says a snowbird couple from London, Ontario who recently ended their rental in Florida.&nbsp;CBC describes how Florida’s tourism industry itself is going to suffer. The CEO of Visit Lauderdale says she has gotten dozens of emails from Canadians saying they will not be returning to the US for at least four years. The US Travel Association says that even a 10% drop in Canadian tourism to the USA could result in a $2.1 billion economic loss and impact 14,000 jobs. Keeping in mind the obvious point that the US economy greatly relies on Canadian customers, the ball is in Canada’s court. When Canada is threatened, our people have the opportunity to withhold the support we have been giving the US since our relationship was first founded hundreds of years ago.&nbsp;As we saw, some Canadians are selling their properties as a part of the boycott. Others are less bothered and don’t believe it’s necessary to sell their American properties in protest. The better decision seems to be a personal political decision each Canadian should make. However, there are now economic choices that are making a lot of sense. Opportunity is calling at the perfect time. Canadian condo prices have been depressed and present an interesting vacation alternative for those moving capital back across the border. Investors or those looking for a vacation property are greeted with a market that is full of choice. Various price points. Locations. Sizes. And structures. There is something that is sure to fit any and every one. Something to consider. This idea also allows you to stay “in the market” at a time where much of the price risk has been drawn out. If you take this route; welcome home.

U.S. Property Jitters? Canada’s Condo Market Might Be the Answer

Canadian owners are rethinking U.S. property as tensions rise, and the Canadian local condos may be the smarter investment today.

About RIFO

Business

Investors

News

Contact Us

Contact Us