Two years ago, following Donald Trump’s electoral victory and subsequent realization of the US presidency, we noticed a spike in Americans googling the phrase, “move to Canada” and posted an article about it on LinkedIn (the article is provided below for your reference).
Foreseeably, this trend could prove enormously beneficial to the Canadian real estate market as Americans seek out new living options. In June of this year, there was another surge in google searches that is depicted in the graph below.
Might this have anything to do with the US-Canadian trade wars? Consider the timing of this overwhelming spike and let us know your thoughts.
Why Trump May be Good for Toronto Real Estate:
Published on November 10, 2016 via Matt Elkind on LinkedIn:
As construction planning begins for the largest wall built since the Great Wall of China over two thousand years ago, it’s time for Toronto based real estate investors to ask: What does this mean for our real estate market? It is still too soon to determine the policy mandates from the campaign posturing but it seems reasonable to expect that the United States under a Trump presidency will be protectionist and has already created global uncertainty.
I believe both of these things will ultimately be a benefit for Toronto and the Canadian market for two fundamental reasons.
1. It makes Canada a more attractive place to live and from an international perspective do business with.
2. It will maintain a low interest rate environment as result of global economic and political uncertainty.
While “Moving to Canada” talk is part of every presidential election, Google searches for the term spiked in April when Trump won the GOP race and spiked again on election night with the Trump win. Citizen and Immigration Canada confirmed that their website went down for over an hour due to a surge in traffic.
The number of Canadian millionaires will jump by more than half in the next five years: Credit Suisse
The number of millionaires in Canada will jump by more than half in the next five years, a faster growth rate than other developed countries like the U.S., according to a new wealth report from banking giant Credit Suisse.