Chief Economist Of The Bank of Montreal Goes On A Florida Condo Shopping Spree

Chrome Dollar

Attractive real estate pricing and a weakened dollar make the South Florida  condo market a very attractive buy to internationals.  The chief economist for a Canadian Bank certainly thought so when she recently purchase two units.

According to the The Bank of Montreal chief economist Sherry Cooper is among the many Canadians going on a South Florida condo shopping spree.

Ms. Cooper who lives in Toronto, has bought two condos in Florida since June. “Canadian dollar’s strong, U.S. housing market’s weak; we decided that we’d like to spend time there as well,” she said-quickly noting that she’s not retiring and that it’s a long-term purchase, although she is buying the pieds-à-terre to use them, not as speculative investment.

Ms. Cooper isn’t the only Canadian long on Florida – there are plenty of stories circulating of a recent buying bonanza. The exchange rate “made places that weren’t affordable, affordable,” she says. “I know there are lots of people who have spent time in some place in the U.S., for vacations or winter, and this is something that may have been in the back of their mind that they never believed was possible that has suddenly become possible.”