A recent article in the National Association of Realtors magazine Realtor had the above title. The article was discussing how in some markets in the US the only buyers were Canadians buying investment properties and second homes. The article quoted Mike Kent, a Realtor in the resort community of Birch Bay Washington near the Canadian border who said nearly 40% of his sales in late 2007 were to Canadians. Additionally the article says 11% of all international buyers in the US are Canadians.
On the commercial side a recent article in the Bellingham Business Journal quoted Ken Reinschmidt with Saratoga Commercial Real Estate who stated that 40% of the industrial market in the Bellingham area was made up of Canadian companies.
Clearly, many markets in the US are being supported by Canadian buyers in this down economy. This is not only occuring near the border, but also in resort areas of Arizona and Florida. Ozzie Jurock, a real estate investor in Vancouver BC recently stated that he has purchased 100 condos in Arizona in the last two months.
