Canadian investors are looking at California real estate, as a good long-term investment, because of the devaluation of the US dollar. Simply put, the falling California real estate market, combined with a weakened and leveraged US economy, is giving Canadian investors a double whammy of a chance to own prime, California properties, cheap. This series will attempt to educate Canadians, looking to buy California properties.
How does the exchange rate work?
In January of 2007, a Canadian investor, buying a $300,000 (US) property in Long Beach, CA, , would have to pay $352,600 (Canadian). That was based on an exchange rate of $1.17553 Canadian to $1.00000 (US). Today, the exchange rate has dropped to $.98188 Canadian for one US dollar. That means that the same property in Long Beach, would costs $294,300.
But wait, there's more! CONTINUE
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