Depressed snowbird housing market - Yuma
Well, my in laws just sold their snowbird home in Yuma at a major loss, lots of properties for sale there, it's definitely a buyers market. My in laws hated to sell but at the ages of 83 & 79 with one...
Forum Discussion
As in all major financial decisions related to lifestyle choices one must consider the worst case scenario and if not able to completely immunize yourself from total loss, at the very least, mitigate that aspect as much as is possible.
We have met so many wonderful people over our years of snowbirding, suffering from that terrible event of the 2008 meltdown and losing everything due to using their major appreciating asset, their principal home, to finance a depreciating asset RV or other high-dollar "Toy".
I cannot begin to tell you the terrible carnage that one simple decision has created among the now elderly who opted thusly.
Our hearts go out to those who've made plans based upon the then current environment only to have the rug pulled.
Canadians are now facing the spectre of unrestrained and absolutely ridiculous medical costs in the U.S. requiring insurance companies to raise fees and add restrictions as never before. Our out-of-province healthcare is provided by our Private Pension Plan but even so, we are cautioned that if we can be stabilized; our arses will be on a med flight out of the U.S. so fast, the U.S. hospital computer will still be printing the vital stat's & admissions paperwork.
A wide dollar disparity only exacerbates any costs associated with Canadians needing U.S. medical intervention.
Friends with a house near us in Lakeland Fla. have decided to sell based upon his advancing age and pre-existing conditions of diabetes bringing with it horrendous medical insurance costs and along with the dollar disparity virtually doubling home maintenance and entertainment costs. They now intend to travel to locations worldwide at far lower quoted insurance costs without the prospect of a U.S. realty millstone around their necks.
Contrary to most discussion on here; they were fortunate to be in a locale with a resultant bidding war for their property. Americans are replacing a significant part of the Canadian exodus created snowbird void in this area of the U.S.
I fully understand how these decisions are influenced. My wife and I are among the very fortunate who both have fully paid up CRA allowed 70% maxed-out pensions with a host of paid optional medical provisions that allow us the luxury of maintaining our snowbird lifestyle without consideration to anything other than our entertainment costs wherever in the world we choose to go.
The downside is watching our pool of snowbird friends, both Canadian and American, dwindle around us due to both financial AND age impact.
For those arriving at that juncture in their lives, we send commiserations with the knowledge we'll be along shortly to join you, so please leave a light on for us, eh?
We have met so many wonderful people over our years of snowbirding, suffering from that terrible event of the 2008 meltdown and losing everything due to using their major appreciating asset, their principal home, to finance a depreciating asset RV or other high-dollar "Toy".
I cannot begin to tell you the terrible carnage that one simple decision has created among the now elderly who opted thusly.
Our hearts go out to those who've made plans based upon the then current environment only to have the rug pulled.
Canadians are now facing the spectre of unrestrained and absolutely ridiculous medical costs in the U.S. requiring insurance companies to raise fees and add restrictions as never before. Our out-of-province healthcare is provided by our Private Pension Plan but even so, we are cautioned that if we can be stabilized; our arses will be on a med flight out of the U.S. so fast, the U.S. hospital computer will still be printing the vital stat's & admissions paperwork.
A wide dollar disparity only exacerbates any costs associated with Canadians needing U.S. medical intervention.
Friends with a house near us in Lakeland Fla. have decided to sell based upon his advancing age and pre-existing conditions of diabetes bringing with it horrendous medical insurance costs and along with the dollar disparity virtually doubling home maintenance and entertainment costs. They now intend to travel to locations worldwide at far lower quoted insurance costs without the prospect of a U.S. realty millstone around their necks.
Contrary to most discussion on here; they were fortunate to be in a locale with a resultant bidding war for their property. Americans are replacing a significant part of the Canadian exodus created snowbird void in this area of the U.S.
I fully understand how these decisions are influenced. My wife and I are among the very fortunate who both have fully paid up CRA allowed 70% maxed-out pensions with a host of paid optional medical provisions that allow us the luxury of maintaining our snowbird lifestyle without consideration to anything other than our entertainment costs wherever in the world we choose to go.
The downside is watching our pool of snowbird friends, both Canadian and American, dwindle around us due to both financial AND age impact.
For those arriving at that juncture in their lives, we send commiserations with the knowledge we'll be along shortly to join you, so please leave a light on for us, eh?
