I cross the border between British Columbia and Washington State at least once a week. It seems to me, in the 10+ years that I have been crossing the border, it is better. Some of this is due to less traffic, especially after 9/11. Another factor is more and better shopping options in Canada giving Canadians less reason to cross the border. Recently, when the Canadian dollar increased in value, many US border towns expected increased cross border shopping. Although it increased, it did not increase as much as some expected. Truck traffic has continued to increase at the borders and with the increased security at the border, truck line-ups are sometimes out of control. According to Site Selection magazine "For their part, businesses are losing logistics advantages gained by locating near the U.S. - Canada border. If the goods are spending hour after hour on idling semis instead of in transit to a cross-border customer." Recently the joint Canada/US Free and Secure Trade (FAST) program was implemented for commercial traffic. This program allows the transport of pre-approved goods across the border. At the Pacific Highway (Truck Crossing) at Surrey BC and Blaine WA a new and improved truck lane has also been added. This has moved the trucks off the main road and seems to have organized the process more efficiently. However, there is still much improvement needed at our borders to facilitate the movement of cross border trade and business.
CrossBorder Books
Favorite Links
Recent Posts
- Blast Radius adds new offices in the U.S.
- Stork Craft Moves Office to Bellingham
- Viva Pharmaceuticals To Build Facility in Blaine
- IMF Praises Canada
- Paul Volcker and the Canadian Banking System
- Canada Is Getting Recognition - Cont.
- Canadian Companies Still Expanding in the US
- Canada Is Getting Recognition
- Canadian Investors Make News
- HTnaturals Opens First U.S. Retail Location
« June 2005 | Main | August 2005 »
Florida Homes Have International Appeal, Says Florida Association of Realtors'(R) Study
“International buyers are major players in the Florida residential real estate market, accounting for 15 percent of total home sales, according to a new joint study conducted for the Florida Association of Realtors® (FAR) by the National Association of Realtors (NAR). For a long time, anecdotal evidence from Realtors® has suggested that international buyers play a sizable role in Florida home sales, but this study marks the first attempt to quantify the trend….Altogether, the Realtors surveyed closed 1,844 home sale transactions to non-U.S. buyers.
* Florida's international homebuyers came from more than 100 countries in all areas of the world, but Europeans bought the majority of Florida homes -- 58 percent -- with more than half those European buyers from a single country, the United Kingdom.
* The United Kingdom alone accounted for one third of all international home purchases.
* One third of international buyers were from South America, Central America and the Caribbean.
* Over one third -- 36 percent -- of international buyers paid cash for their home compared to only 10 percent of all Florida homebuyers.
* For foreign buyers, an almost equal share purchased their Florida homes to use as a vacation home (38 percent) or as an investment (37 percent). Only 17 percent purchased a home to live in while traveling to the U.S. on business.”
I think most people would be surprised if they knew the number of international real estate transactions that occurred in their own community. Of course, Florida has more than its far share of international buyers simply because of the climate. In Bellingham Washington there is an often heard quote that “taken as a whole, Canadian companies are the largest employer in Whatcom County.” Many of the business people and economic development people are aware of this, but your average citizen has no idea. Most residents in Bellingham go about their day-to-day activity never realizing that several of the stores and businesses they patronized were actually Canadian owned and operated.
U.S. Chamber of Commerce: Americans for Better Borders
“The goal of the Americans for Better Borders (ABB) coalition is to unite regional business organizations and a wide array of companies and national trade associations representing manufacturing, hospitality, tourism, transportation, recreation, and other industry sectors to work to ensure the efficient flow of goods and people across our borders while addressing national security concerns.”
Americans for Better Borders is a coalition of the U.S. Chamber of Commerce. Originally formed in 1998, they have worked hard to promote cross border trade while recognizing the need to have secure borders.
Canadian Internet Pharmacy Works Closely With American Doctors to Develop 'Established Doctor/Patient Relationships' and Protect the Safety of Consumers
“In a recent announcement by Canadian Health Minister Ujjal Dosanjh, the minister stated that he would ban the bulk export of prescription drugs "when necessary," and that tougher rules would be put in place to require ‘an established doctor/patient relationship for any cross-border drug sales.’”
This is a topic that has been receiving more and more attention. The U.S. wants to stop people from buying drugs from Canada. Yet, congress had proposed that they buy prescriptions drugs from Canada for their own congressional medical plan (I believe they backed away from this proposal). Canada is concerned about fostering business while also protecting their population from increasing costs of prescription drugs and shortages in supply. I agree that Canada should promote business development, but perhaps it is correct to put some controls on this practice. It would be a shame for Canadians to be subject to increasing drug costs, just because the U.S. cannot control their pharmaceutical industry and increasing drug costs. What are your thoughts?
Real Estate Gone Wild
“Property, like politics, used to be local. After all, what demands more on-the-ground knowledge than buying a home? But over the last few years real estate has gone global. Already, there's a good chance you or someone you know owns a second home abroad. You may even unwittingly own a stake in a Guangzhou office block, via your pension fund.”
via: Newsweek International Edition
With the internet and other improvements in communication technology, direct investment in international real estate is becoming more feasible. It is no longer necessary to restrict real estate investments to your local market. Through international real estate funds, indirect real estate investment can be achieved. This can also be a way to diversify your holdings, especially if you are heavily invested in real estate in your local or even national market.
