Every foreign investor wants to invest in US real estate (reference, Security To Investment Was Key at the World Real Estate Investing Summit) and to add to this list of pros for US real estate investing, Canada and Mexico have additional very compelling reasons. The first has to do with the events of September 11, 2001, the day of the world trade center attack.
911 brought along with it a great sense of family unity. When airplanes were grounded and people could not get to be with their loved ones, they were awakened to the unity of the family like never before. As much as we love and enjoy the speed of air travel, the ability to get in a car (even if you need to rent a car) and be able to travel to and from any location, creates another sense of security.
Canadians and Mexicans can enjoy this ease of travel as we all share the same continent and have the ability to travel by road. So the fact that U.S. real estate investing is deemed to be the safest and most secure investment in the world, ALONG WITH the security of ground travel, makes investing here an easy decision.
Baby Boomers also have another big reason. There is an estimated $70 Billion that is due to be inherited over the next decade or so in the country of Mexico. This inheritance is estimated to go to only 4% of the baby boomer population and these folks are looking for safe and sound investments. For the 96% of the remaining baby boomer population in Mexico, they are living on a fixed income and are looking in the U.S. for a warm climate and secure retirement. With housing in the U.S. more affordable and property taxes and insurance costs lower here, investing in US real estate becomes an obvious choice.
Meanwhile Canadians are projected to inherit over 1 trillion (with a T) dollars over the next 15 years. The economic prosperity that Canada has experienced creates a great deal of discretionary funds for the 2nd home investment market. Canadians are now looking to enjoy “Life’s Rich Moments”. With affordable housing in the U.S., lower taxes and insurance costs AND easy travel, Canadians are lining up to invest in USA real estate like never before.
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