With winter just around the corner, many Canadians are dreaming about escaping to the U.S. sunbelt.
Luckily, according to BMO Bank of Montreal’s Annual Snowbird Outlook, U.S. vacation homes in popular snowbird destinations like Florida remain affordable compared to the housing prices we saw in 2006.
At the same time, as noted in a recent Financial Post article, snowbirds face a tough rental market. While the American economy has been recovering, many Americans have been renting homes instead of buying them. As a result, rental prices across the U.S. are increasing while the number of rental properties available for Canadian snowbirds is decreasing. Read the rest of this entry »
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