Did you know that a weaker Canadian dollar can be a good thing for the Real Estate Market in the Okanagan Shuswap?

The currency gurus of Canada now say that the Canadian dollar will hover around 90 Cents for a while. They say that the reason has less to do with the Canadian economy than it does with the stronger American economy and housing market. But how does that affect us Real Estate owners and investors in the Okanagan Shuswap housing market. Many homeowners wonder if this will affect the value of their home. There are 2 industries that are always close to the top of the Gross Domestic Pproperty (GDP) list in British Columbia. They are the Lumber Industry and the Tourist Industry. The lumber Industry, of which we have a number of mills in the Okanagan Shuswap, exports a great deal of their product to the United States. Every time our dollar goes down a penny our lumber looks more attractive to the Americans. If our lumber Industry does better our economy usually does better. How about our Travel Industry? A lower dollar will certainly make it less expensive for our neighbours to the south to come up and enjoy the Okanagan Shuswap sunshine this summer and spend some of those wonderful high valued green backs in our stores and on our vacation properties. For a more thorough look at the effects of the Canadian dollar visit http://www.theglobeandmail.com/report-on-business/economy/why-a-lower-loonie-is-mostly-good-for-canada/article16287580/?page=all

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Bill Hubbard

Bill Hubbard

Broker/Owner
CENTURY 21 Executives Realty Ltd.
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