“In the U.S., given the affordability and the fact that prices in the suburbs went down more significantly than in the cities you will see more and more options and opportunities outside big cities,” said Benjamin Tal, Canadian Imperial Bank of Commerce (CIBC) analyst. With Canadian markets hot – and some fear over-heating – the bargains south of the border in the U.S. are appareling, Reuters tells MHProNews.
Compared to Canadians, U.S. home builders may be more tentative. Canadian firms such as Mattamy Homes, Landmark Group and Brookfield Residential are targeting suburban U.S. markets, where they believe they see more value and lower costs. Some are planning 2 years out, when they believe U.S. recovery will be more solid; a nice way of saying that the bargain deals are here now.
Privately held Mattamy Homes is Canada’s biggest builder. They’ve purchased 9,600 acres in Florida alone this year, but also are operating in Minnesota, Arizona, North Carolina.
Landmark Group is a leader in Alberta. They’ve invested in land in Phoenix, Arizona, to build their first U.S. condos. Texas, California and Georgia are all on their radar.
Calgary, Alberta-based Brookfield Residential announced developments will start developing several new projects this year, ahead of their initial 2016 schedule.
This news comes on the heals of China-based Landsea’s announcement that they will be doing 1 billion dollars in new U.S. Housing. Canadians investors are among those targeting the U.S. for manufactured home community purchases, for more, click here. ##
(Image credits: WikiCommons)