Glick Report
  • March 20, 2008 09:05 AM EDT by Alexis Glick

    Canadians Scoop Up U.S. Real Estate

    Did you know that Canadians account for more than half of all new home purchases in California, Texas and Florida? Yes, that's right, it's true! The strong Canadian dollar, (the looney) a declining U.S. dollar and weak housing prices due to the subprime mortgage mess have increased the appetite for Canadians to cross the border and buy real estate. What is adding to their appetite? An explosive local housing market in Canada where Canadians are seeing double-digit appreciation in their own home values. They have cash and they're spending it! Local real estate brokers in California, Arizona, Florida and other sun belt states are seeing a ton of Canadian buyers. One broker interviewed in Sarasota said in the past six months 20% of his calls are from Canadians.

    To shed light on this positive real estate investment story, I interviewed Dennis Yeskey, national director of real estate capital markets and Connie De Goot, a real estate expert with Coldwell Banker.

    Take a look.

    032008_breakfast_canadian1.jpg

    032008_breakfast_canadian2.jpg

Canadian Mortgage

Alexis, We're seeing this trend from our side of the border as well. Despite specializing in Canadian mortgages, as many as 20% of our incoming emails lately have been from Canadians wanting U.S. financing. Cheers, Robert

March 23, 2008 at 4:48 pm

chuck harrison

http://www.wivb.com/Global/story.asp?S=8051891 I stumbled upon this story by accident. It invovles a real estate agent in Buffolo,New York. U might want to check it out.

March 21, 2008 at 4:07 pm

about this blog

  • Alexis Glick is an anchor for FOX Business Network. Prior to joining FOX, Glick served as a correspondent for the Today Show and co-anchored the third hour of that program. Before her stint at NBC News, she was the senior trading correspondent for CNBC and reported from the floor of the New York Stock Exchange.

most popular posts