I say that in the face of folks who ridicule me that climate will force changes to living standards, job development will be global and not as local or national, the natural course of the currency being devalued, and housing developments will be cyclical per usual.

Although a bank or insurance company would fit nicely into Berkshire’s existing platform, Canada does have restrictions on foreign ownership of those assets – so my bet would be either an energy or utility-oriented opportunity (plenty of them in Alberta) or perhaps a significant stake in Alimentation Couche-Tard, which owns the Circle K brand and has a significant global presence, potentially meshing nicely with Berkshire’s recent purchase of Pilot Flying J.This year, I had the pleasure of travelling to Omaha with some friends from New York University’s Real Estate Development program and got to catch up with old friends from all over the world.Alas, my favorite Buffett-ism from the meeting was "Understand that the market is there to serve you, not instruct you".

I would say that you are correct about Prescott having a shortage or rentals, but it also a snowbird and retiree neighborhood for Canadians, Californians, and east coasters.

Many of the Canadian clients I work with gravitate towards North Carolina, Texas, with Florida and Arizona being their top choices so I'd looking into those states a bit more which it seems you've already started to do. 

Make sure your portfolio and goals align.2) Global real estate portfolio review - Look at all your properties and investments combined.

They could file a fair housing suit against you claiming that you did not accept them because they were white, or Jewish, or they had kids, or didnt' have kids or they were Canadian.

I think we should lobby BP for Canadian cities.

I've looked at California's market, and it looks a lot like the Canadian market, where the laws are made to protect the tenants and are not landlord friendly.

I think that depends on personal philosophy, risk tolerance, the local market, the global economy and which way the wind is blowing.

I work for Global Realty Group LLC in Cibolo, we require it for our landlords and also like to be added to the tenants coverage plans as well.