February 26, 2013 · 1 Comment
Canada has long been one of the biggest buying forces in the U.S real estate market and it’s about to become a lot bigger…
Canadians love investing in real estate in the U.S. and they no longer only have their sights set on sunny Florida. They are comfortable investing just across the border in the north where it is close to home and they enjoy the same crisp weather and have recently taken Phoenix by storm and are actively looking for new destinations to put their money to work.
We are about to see a big rush of eager Canadian investors and it is those real estate investing companies in the U.S. that are best prepared to help them that will win.
It’s a good match; they are close, they have good handle on how the market works here and can act quickly. They speak the same language and use much of the same real estate lingo and terminology so marketing doesn’t require a huge, expensive overhaul to connect with them.
Plus Canadians often have bigger pockets; they enjoy great jobs and incomes and are used to paying more for everything up north; making U.S. real estate a great steal.
Right now the Canadian real estate market is undergoing massive transformation. The government there has made the same critical mistakes that were made here in the run up to the U.S. housing crash, resulting in their market beginning to fall apart.
This has old, popular havens like Toronto and Vancouver posting miserable housing numbers, with more likely to come. Alberta and Calgary has held out a little longer, but the weakness is already showing, and the inside scoop is that Canadian investment firms and REITs are having a much harder time recruiting capital than a year ago.
Canadians are scared of investing at home as they see a repeat of our disaster playing out, but are excited about the U.S. rebound, don’t want to miss out and are desperate for yields.
Maybe it’s time to step up and serve their real estate investing needs for a win-win…