The weak loonie has opened up opportunities for sensible Canadian buyers to make a profit from their US property purchases.
In recent years, the two dollars (American and Canadian) have been almost on a par with each other, allowing Canadian buyers to snap up US real estate, especially during the low-priced period that followed the financial crash.
In recent months, though, the strengthening US dollar and the weaker Canadian dollar has severely impacted their buying power south of the border. On the plus side, the loonie’s fall of 25 per cent means that those planning to sell properties now could make a potentially sizeable profit. may mean this is the time to cash in on a potentially large profits.
Indeed, the US housing market has rebounded by around 30 per cent, notes the Huffington Post , which, combined with the falling exchange rate, leaves any US real estate worth a lot more in buyers’ native currency.