As a follow up to our previous blog regarding the real estate market in the Coachella Valley, we want to point out the value of the Canadian Dollar in comparison to the U.S. Dollar.
Over time, the Canadian Dollar usually finds itself at about 0.65 to 0.70 to the U.S. Dollar. Over the last couple of years or so, the U.S. Dollar has weakened significantly in comparison to the Canadian Dollar. In November of 2007, the Canadian Dollar rose to the equivalent of $1.08 U.S. Dollars. As commodities such as oil and gold have weakened, the U.S. Dollar has strengthened relative to most other currencies. As a result, the Canadian Dollar is now worth 0.82 U.S. Dollars.
As the U.S. Dollar strengthens versus the Canadian Dollar, the effective price of U.S. real estate increases. The Canadian Dollar is still relatively strong in comparison to the U.S. Dollar, on a historical basis. With the prices of real estate in The Coachella Valley apparently in the bottoming process, we want to make sure you have the opportunity to get into the market before the U.S. Dollar strengthens further versus the Canadian Dollar.
If you have any questions or would like to see a sampling of the wonderful real estate opportunities here in the desert, give us, the Stefani's a call, or shoot us an email.