Would living in the U.S would you make more money then in Canada?? (real estate)

[beautycovergirl]

I was just wondering... my friend of mine is over in Canada.. she wants to move to the U.S, shed has a work permit. Isn't the Economy better in the U.S though?... lots of people tell her NOT to move to the U.s :S

[desertsun41]

Not any more. I lived in Canada in 1998 and 1999 when the economy was as bad as it gets there.

Today Canada's economy is laughing at us.

You ever hear of the "great brain drain"?? Many very educated Canadians were coming to America for the money and less taxes. This is not true anymore. Canada has since restructured their tax brackets but is still more then in the US. Still Doctors and the like are still trying to come to America.

Back then I used to cross the Peace Arch crossing often. All the Canadians were coming into Bellingham to shop. Today the Americans are shopping in Vancouver and getting the rebated GST and PST. I have not looked lately but back then I was trading an American dollar for $1.58CDN.

I often think about going back. This would be a pretty good time.

[ZX14TJ]

Originally Posted by desertsun41

Today the Americans are shopping in Vancouver and getting the rebated GST and PST. I have not looked lately but back then I was trading an American dollar for $1.58CDN.

This couldn't be further from the truth. The weak USD has turned everything around. For the past 8 or 9 months, the CAD and USD have been very close to par. Everything is more expensive in Canada. No American in their right mind would come here to make a purchase. On the other hand, Canadians are doing plenty of shopping in the US.

The Canadian economy is starting to feel a pinch. The weak USD is destroying many Canadian businesses that trade with the US.

I really wouldn't let economy dictate where you live since an individual country's economy will be somewhat cyclical. Instead, do the research and find out where you would have the best quality of life. Generally speaking, Canadian jobs pay better than US jobs. Also, Canadian cost of living is quite a bit higher. In some cases it evens out.

Of course, where you live (in either country) has more to do with pay/COL than anything.

[Robynator]

Originally Posted by desertsun41

Today the Americans are shopping in Vancouver and getting the rebated GST and PST.

The GST tax rebate program ended in January 2007.

PST has never been refundable (unless you're in Alberta, and then there is no PST charged to begin with).

[krichton]

Yes the US is turning it around. One Canadian dollar = 98 cents in the US. Woooo!

[desertsun41]

Well I see no one agrees with me. I did not know they did away with the GST rebates. That knocks off one big advantage of going to Canada to buy. I also dont remember not being reimbursed for PST. I never took advantage of either so what do I know but for what I was told.

I dont car what you say, it might have been 9 years ago but I remember the crowds of Canadians coming to Bellingham to shop the big mall there. It took hours to get into the US and going home we neve waited more then a minute to cross.

Yes pay scales are higher in Canada but so are the price of homes. So much so that in Vancouver few can afford their own home.....just like in Southern California. Many live in basement flats or extra rooms. I remember reading Vancouver was the 2nd most expensive real estate next to Tokyo. Fantastic place to visit but I wouldn't want to live there again. Kits was nice but it's not for me. Awesome places to eat though and a great night life when it wasn't raining. I had some wonderful times when I was there. I really miss it.

I loved my time in North Van and in Sooke out on the island where the wife's sister had a home on the water where we spent much time. The time I was there it was just very very hard to make a living, even for a trades man. I have heard this is not true today because the economy is strong.

[Robynator]

Yep, it's pretty expensive to live in Vancouver. It has a huge international investor market eating up the real estate. Nobody comes to Canada to find shopping bargains - Canadians are still crossing the border to find cheaper deals.

[michelle38]

Would your Canadian friend be better off in the US? Not if she were to ever inherit property from a Canadian. No inheritance tax in Canada. Big US inheritance tax. That's assuming she became a US citizen.