Shrinking Canadian dollar
Wondering how the state of the Canadian dollar will effect other Canadians travel plans. It has made our site rental jump from $3,200 American to a payment of $4,022.60 Canadian. ouch!
Forum Discussion
As a Canadian I remember several years ago when the exchange dropped from around $1.65 (roughly) to $1.30/1.25 and I thought it couldn't go down any further and it kept dropping after I'd bought a chunk of US dollars back then = DUH me! We've all got used to being on Par same as folks quickly got used to gasoline dropping back down to under a dollar a litre and even in the 80cent range, now it's back over and folks are complaining about it again. It's the way of the world, interest rates, gasoline prices, food, currency, they all fluctuate and change over time, some longer periods than others.
We like many have property in the USA since 2009, which would be great to sell now on the exchange but in the meantime is crippling with a combination of the exchange rate changes, non-resident huge increased property taxes, and insurance sky rocketing each year due to the payouts made on Hurricanes and now for non-resident flood insurance they are increasing our premiums even moreso by 25% I believe effective 1st April this year onwards. For Sale Sign has gone up, but market is slow - knowing our luck by the time it does sell, the dollar exchange will be below par (LOL).
Keeping on smiling. As for affecting our traveling to the USA, we'll still keep on going, we'll just trim our variable expenses and how we do things a little to help combat the strain on the budgets. Besides which when we purchased we did all our cost bases on the average over several decade periods, which whilst no guarantee (look at interest rates today compared to 20+ years backlong) has allowed for this increase which was in our eyes inevitable when looking back on averages. No crystal ball, and past performance isn't indicative of future performance as they say, but what else can one go by?
We like many have property in the USA since 2009, which would be great to sell now on the exchange but in the meantime is crippling with a combination of the exchange rate changes, non-resident huge increased property taxes, and insurance sky rocketing each year due to the payouts made on Hurricanes and now for non-resident flood insurance they are increasing our premiums even moreso by 25% I believe effective 1st April this year onwards. For Sale Sign has gone up, but market is slow - knowing our luck by the time it does sell, the dollar exchange will be below par (LOL).
Keeping on smiling. As for affecting our traveling to the USA, we'll still keep on going, we'll just trim our variable expenses and how we do things a little to help combat the strain on the budgets. Besides which when we purchased we did all our cost bases on the average over several decade periods, which whilst no guarantee (look at interest rates today compared to 20+ years backlong) has allowed for this increase which was in our eyes inevitable when looking back on averages. No crystal ball, and past performance isn't indicative of future performance as they say, but what else can one go by?
