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Rise of the loonie means big savings in U.S. market.
With the Canadian dollar continuing to gain strength, investors are being urged to take part in a bit of cross-border shopping — although not the kind that most typically jumps to mind.
Thanks to the rise in our loonie’s value there has never been a better time to invest in the foreign securities and housing sales offered by our neighbors to the south. Whereas a drab two-bedroom home in mid-town Toronto could cost you upwards of $900,000, some of Florida’s largest units are being listed at half the cost.
Experts are pointing to U.S., European and Asian stocks as other great means of investment. The run-up in our dollar, says the Financial Post, has resulted in a 30% cut in all U.S. prices, and a 7% and 22% decrease in Europe and Japan.
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