The duties were scared off by Canadians. They sell out houses in the USA

In connection with the political uncertainty and economic situation, Canadians sell their real estate in the US – the American “Washington Post” pointed out. Canadians have long been the largest group of foreigners buying houses in the United States.

Many Canadians give up holiday homes in the USA and sell real estate, which has been having them for decades, in places such as Florida or Arizona. Local real estate brokerage offices inform about it.

The newspaper described the history of Canadians who decided to sell their homes in the USA.

The Canadian teacher Nathalie Mancuso emphasized that in January she began to feel “more and more uncomfortable”. Fears of the 56-year-old from Montreal were aroused by the administration of Donald Trump's new duties on Canada, and the last drop that shed the witness of the bitterness was one of Trump's statements about the fact that Canada is the “51 state” of the USA. In March, Canadian sold a property in Florida. “The final decision was based on the political situation. We were afraid of what could happen,” said Mancuso.

One of the factors followed by the seller is the economic situation. In recent months, the value of the Canadian dollar has fallen compared to the American dollar. On the other hand, the sale of real estate, e.g. in popular winter resorts, is very favorable because their prices have jumped.

According to intermediaries, the conditions for sales have been on the market for many months, but many have been choosing this step right now because of politics.

The industry emphasizes that customers say that they feel unwelcome and are afraid that the government can raise taxes on real estate owned by Canadians. They are also afraid of possible future travel restrictions.

A representative of the Catherine Spino real estate industry emphasizes: “The key word is uncertainty.” From January, she observed twice as many Canadians who want to sell their real estate compared to the same period in other years. She also recorded a serious decrease in the number of Canadians who wanted to buy a flat in the USA.

Canadians have long been the largest group of foreigners buying real estate in the United States, “Washington Post emphasized. In the years 2010-2013 they were responsible for about 23 percent. all purchases of real estate made by foreigners. They also constituted the largest percentage of foreigners buying apartments last year (13 percent). (PAP)

NDD/ MMS/