How Trump’s Presidency would affect Local Real Estate Market?

Vancouver— Experts have expressed their concerns about how the market will be affected by Trump’s win. But how will his presidency really affect the housing market?

According to research done by experts, there’s a high probability that more potential buyers staying north of the border due to Trump’s win.

America’s real estate market consists of multiple foreign investors. But the leading majority is the Canadians, especially in Sun Belt. However, Phil Soper at Royal Lepage says we need to buckle cause it’s about to be a bumpy ride.

“With a high American dollar relative to the Canadian dollar, their enthusiasm has damped somewhat. I think this may dampen it further and we may see more interest in Canadian recreational property.”

Let’s keep in mind that Canada’s immigration site crashed on election night thanks to a surge of traffic from the America.

Soper has a strong belief that countries often compete for the most skilled immigrants.

“Differentiations could actually be very helpful for Canada in that a Trump-lead America will look very different for Canada. Our brand — strong, fair, tolerant, welcoming– could actually help us in our goal to attract people to help our country grow.”

Soper also thinks that the number of Canadians who vacate to Sun Belt would drop, which will eventually lead to a rise in cabins and cottages closer to home.