The Canadian Dollar made its comeback on Friday and closed at C$1.0111 per US Dollar. Don’t you hate when someone tells you I told you so? Well, I did!. In my blog of May 31, 2010, Canadian Dollar Founders But Watch for a Comeback, I suggested that the Loonie was going to reach parity again with the Greenback in a few months.
As I mentioned in my subsequent blog of September 19, 2010, Canadian Dollar Climbs to Six Week High, I was and still am convinced that the convergence of all market forces is making NOW the time to buy a winter home in Palm Springs. Our prices are the lowest in years, and property selection is excellent with high inventories in most price ranges. Again the strong Canadian Dollar places a Canadian buyer in a uniquely favorable position to maximize values here right now.
Undoubtedly over time the US economy will recover, inflation will return, inventories will be sold, and prices will rise. Why wait if you are considering a purchase of any type in Palm Springs? And if you are Canadian, the stars are all in alignment for you in particular. You could be enjoying your beautiful new home here and now, while others wait and let their lives go by. For an in depth description of the recent moves in Canadian currency relative to the US dollar go to Bloomberg News.