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Canadians Investing in US Real Estate
Low interest rates, favourable exchange turn U.S. into hotspot
EVEN FOR INVESTORS IN CENTRAL CANADA, WHERE THE METROPOLISES OFFER DIMINISHING RETURN ON INVESTMENTS, THE UNITED STATES OFFERS DENSELY-POPULATED MARKETS WITH STRONG FUNDAMENTALS AND NO SHORTAGE OF RENTAL DEMAND.
All across Canada real estate prices continue to rise at an incredible rate making buying an investment property an increasingly difficult task. The Canadian government has mismanaged the real estate market so insidiously that investors may find themselves struggling for cash flow and high ROI. This has many looking South of the border for investment opportunities.
The US real estate market (in contrast with the Canadian real estate market) was built on capitalist ideologies, less red tape, more incentives to develop, and real estate friendly tax rules, meaning there is a far greater opportunity for higher returns. Investors always go where the returns are.
South Florida resi sales, prices jump in the first quarter
SALES VOLUME TOTALED NEARLY $16B IN MIAMI-DADE, BROWARD AND PALM BEACH
A lack of inventory continues to plague parts of South Florida, with the luxury sector outperforming other price points, according to the Miami Association of Realtors. Florida is, in my opinion, 3-5 years behind Ontario in terms of price appreciation due to a significant supply shortage and rising popultaion.
Florida statistics signal rise in California residents moving to the Sunshine State
IN THE FIRST FOUR MONTHS OF THIS YEAR, 8,174 FORMER CALIFORNIANS OBTAINED THEIR FLORIDA DRIVER’S LICENSES. AT THAT PACE, MORE THAN 24,000 FORMER CALIFORNIANS WOULD BE MOVING TO FLORIDA THIS YEAR, UP SHARPLY FROM EACH OF THE PREVIOUS TWO YEARS.
No surprise here! California's poor governance, never-ending lockdowns, heavy regulation, and heavy business and personal taxes have many California residents trading the West coast for the East.
Time to start buying Florida real estate!
California’s population fell by nearly one-half of a percentage point last year, its first decline in at least 120 years.
Many of these residents are making their way to more people-friendly, freedom-friendly, and business-friendly states like Florida.
Miami Mayor Suarez: Tech and finance wave is a ‘movement, not a moment’
PANDEMIC SECLUSION AND HIGH TAXES ELSEWHERE SPURRED TECH AND FINANCE ENTREPRENEURS TO DISCOVER THE PLEASURES — AND TAX BENEFITS — OF SOUTH FLORIDA.
Check out this Q & A with Miami Mayor Suarez!
South Florida’s Red-Hot Housing Market Doesn’t Appear To Be Slowing Down Anytime Soon
Too much demand, not enough supply. This could take 5+ years to correct itself as we've already seen in Ontario.
Florida Real Estate Market Booming
Thanks to another tweet, Miami has become a center of the tech world this week
Amazing what can happen to a city when it's led by business-savvy, free market leaders like Mayor Suarez. A Twitter/billboard campaign has gotten the tech world buzzing and has convinced many companies from around the US to move their operations to Miami and surrounding areas.
This type of leadership and pro-business mentality is the polar opposite of what we see across Ontario and most states across the USA. This makes Florida an incredibly interesting place to buy real estate as the spinoff effects from businesses and people moving to the state could be astronomical.
Florida Goes Viral Across the Tech World
Miami ranks high for tech-related migration, while San Francisco is a big loser
The Miami area took the No. 11 spot among metros with the highest net migration of tech workers. The research includes all software and IT company employees in its figures, not just the technical staff.
The Magic City ranked behind two Texas cities – Austin, Texas (No.1), Dallas-Fort Worth (No. 9) – Nashville, Tennessee (No. 2); and Charlotte, North Carolina (No. 3). Jacksonville and Tampa were the only Florida cities to break the Top 10.
‘FLORIDA HAS CHOSEN FREEDOM OVER FASCISM’: DeSantis Makes Surprise Appearance at Biggest Concert Since Pandemic
Tens of thousands of US residents are migrating to Florida thanks to Governor DeSantis' freedom-oriented policies. This mass migration is causing a sever housing shortage and rapidly rising real estate prices. This is an investable real estate trend that investors should take note of.
Crypto trading platform eToro to establish US hub in Miami
ANOTHER CRYPTOCURRENCY EXCHANGE IS SETTING UP A U.S. HUB IN MIAMI.
Miami is the next silicone value which could mean decades of growing real estate prices in nearby markets.
Florida Just Passed A $15 Minimum Wage.
Florida's current minimum wage is $7.25, doubling to $15 hour will have a significant impact on real estate values and rental rates. This combined with the mass migration to the Sunshine State makes Florida a fantastic long term place to invest!
Inside the world's 'largest' Bitcoin conference in Miami
Florida is quickly attracting tech companies as mayor Suarez pushes to make the Sunshine State the next Silicone Valley.
Tech = high paying jobs and massive growth potential, money that always finds its way into real estate.
Dallas-Fort Worth new home prices soar to another record
The housing crisis across major US states is picking up steam, however, many of these major cities still remain cheaper than their Canadian comparables.
https://www.bizjournals.com/dallas/news/2021/06/18/new-home-prices-sales-dallas-homesusa.html?ana=TRUEANTHEMFB_DA&csrc=6398&utm_campaign=trueAnthem%3A%20Trending%20Content&utm_medium=trueAnthem&utm_source=facebook&fbclid=IwAR3MsLqWcbDEp_VvdKuoiidURi6uiyKP5B6b9fivFgaXF8N4OAUHqq4Hhf8
Dallas-Fort Worth new home prices soar to another record
The housing crisis across major US states is picking up steam, however, many of these major cities still remain cheaper than their Canadian comparables.
https://www.bizjournals.com/dallas/news/2021/06/18/new-home-prices-sales-dallas-homesusa.html?ana=TRUEANTHEMFB_DA&csrc=6398&utm_campaign=trueAnthem%3A%20Trending%20Content&utm_medium=trueAnthem&utm_source=facebook&fbclid=IwAR3MsLqWcbDEp_VvdKuoiidURi6uiyKP5B6b9fivFgaXF8N4OAUHqq4Hhf8
California to pay off unpaid rent accrued during COVID-19 pandemic
Gotta love socialist governments! While many fear missed rent payments due to government policy, we must remember that politician's main goal is usually to get re-elected. Therefore, appeasing landlords is an important part of any campaign push.
https://www.axios.com/california-unpaid-rent-eviction-covid-738781aa-9e61-4dd5-b9fa-be773f29a5f1.html?utm_source=facebook&utm_medium=social&utm_campaign=editorial&utm_content=economy-business-unpaidrent&fbclid=IwAR3kFNo61tFdHK-HXM-Doh7uN95jp979_D9QH6NEKPUSqs1Is_Wly8Hv-Yw
Homebuyers' search for low taxes fuels Florida in-migration
WITH HOME COSTS RISING ACROSS THE COUNTRY, ONE-IN-FIVE PROSPECTIVE HOMEBUYERS CITE LOW TAXES AS A PRIMARY REASON FOR LEAVING ONE STATE AND MOVING INTO ANOTHER.
Would you rather live in a state with high income taxes or low income taxes?
https://www.floridatrend.com/article/31540/homebuyers-search-for-low-taxes-fuels-florida-in-migration?fbclid=IwAR0yZU3RVzs13un-5Hfg_Zb93zAmrgpSuEbKuitbd6oexU3gIN1Ljilgftk
You have a lot of good facts to share. I am a local Realtor, Investor, and STR Property Manager here in Tampa, Florida. Just from my personal experience, I have made over 30 offers in the last 2 months and we keep getting beat out by ALL CASH offers with no contingencies. From the feedback I have gotten from the selling agents, most of these buyers are OUT-OF-STATE evenOUT-OF-COUNTRY buyers, buying with out ever seeing the property or having any inspections. Also, these offers are close to if not at asking price. The only way I have any luck is with making over list price offers with short inspection periods. Our market is HOT!!!!! Just some insight on the Tampa Market.
@Mya Toohey appreciate the feedback! How long has this ultra-competitive market been going on for in Tampa??
With huge nationwide land holdings, Scottsdale real estate investor goes big in build-to-rent market
A SCOTTSDALE-BASED INTERNATIONAL REAL ESTATE ASSET MANAGEMENT COMPANY THAT OWNS 81,000 ACRES NATIONWIDE IS MAKING A BIG PLAY FOR THE WILDLY POPULAR BUILD-TO-RENT HOME MARKET
The build-to-rent market is becoming a popular option as housing affordability crumbles across the Southern US states experiencing a severe shortage of housing. Many will soon have no choice but to rent as US residents migrate from North-to-South. Couple this with international demand for warm weather and good governance and you have yourself a housing crisis.
Texas outshines Arizona, all other states, in luring California headquarters relocations
Fort Lauderdale to consider Boring Co. tunnel proposal
I expect pro-business mayor, Francis Suarez, to pull the trigger on this proposal. The thing I love about US real estate is that it centers on big business, unlike Canada's market which relies on short supply, immigration, and heavy regulation.
https://www.bizjournals.com/southflorida/news/2021/07/06/fort-lauderdale-considers-boring-co-tunnel.html?ana=TRUEANTHEMFB_FL&utm_campaign=trueAnthem%3A%20Trending%20Content&utm_medium=trueAnthem&utm_source=facebook&fbclid=IwAR3WrgJuSIrUP8RSeYjnVWboidNNdc2xDFj2YSpotMdj1g2KCWsYHplK1ks
Space Florida kicks off development to bring more aerospace firms here
Florida is a hotspot for space. SpaceX, Blue Origin, Boeing, and NASA are all headquartered in Brevard County employing tens of thousands of high paying tech workers.
https://www.bizjournals.com/orlando/news/2021/07/02/space-florida-kicks-off-development-to-bring-more.html?ana=TRUEANTHEMFB_OR&csrc=6398&utm_campaign=trueAnthem%3A%20Trending%20Content&utm_medium=trueAnthem&utm_source=facebook&fbclid=IwAR3ceLjVJmw0QdxapqP02LzV5IIQGdTi0Sr2mC4zHFIaWEzfYiXStYTj-3A
Originally posted by @Scott Innocente:
Space Florida kicks off development to bring more aerospace firms here
Florida is a hotspot for space. SpaceX, Blue Origin, Boeing, and NASA are all headquartered in Brevard County employing tens of thousands of high paying tech workers.
This area is certainly enjoying the boom in the space industry! That said, for accuracy it should be pointed out that none of the firms listed are headquartered here. NASA is an easy one......that's in DC.
Originally posted by @Tchaka Owen:
Originally posted by @Scott Innocente:
Space Florida kicks off development to bring more aerospace firms here
Florida is a hotspot for space. SpaceX, Blue Origin, Boeing, and NASA are all headquartered in Brevard County employing tens of thousands of high paying tech workers.
This area is certainly enjoying the boom in the space industry! That said, for accuracy it should be pointed out that none of the firms listed are headquartered here. NASA is an easy one......that's in DC.
Thanks for clarifying!
This has been going on since March. Really bad the last 2 months. It's wild!!!!! I have clients that are well qualified, smart investors and ready to buy....WITH CASH...they are from out of state as well...We just have to have inspections....
Canadian investors bullish on U.S. multifamily market
CROSS-BORDER REAL ESTATE INVESTMENT BETWEEN CANADA AND THE UNITED STATES IS ON A HEALTHY TRAJECTORY, OVERCOMING CHALLENGES INDUCED BY THE PANDEMIC, SAYS A NEW REPORT FROM MARCUS & MILLICHAP.
Canadians who have partaken in one of the hottest markets in the world over the past decades are now seeking opportunities south of the border. Canadians have the advantage of seeing how out of control a real estate market can get when governments intervene too much.
I believe many US investors will be handcuffed by lower returns than they're used to while Canadian investors, seeing the future supply/demand imbalance across the US, will compare returns in the US to the returns they get in Canada giving us a nice advantage.