Canadian snowbirds in Florida experiencing a cost-of-living squeeze

The group’s data reveals that while Canadians continued to represent the largest international buyer segment in Florida in 2021, representing 19% of purchases, the share of buyers they account for has drastically decreased from 2019, when they represented 23% of all foreign purchasers.

Read more: Snowbirds take a hit

The situation is no better for renters.

Fort Myers, a well-liked vacation spot for Canadians and one that was directly struck by Hurricane Ian earlier this month, had the largest increase in rentals, at 32.4% over the same period in 2021, based on a Florida Atlantic University analysis of 107 significant real estate markets conducted in April.

The Missouri Economic Research and Information Center’s Composite Cost of Living Index, Florida’s cost of living is 0.3% more than the national average. With a 5.6% increase in price over the national average, groceries are the costliest good in Florida.

Read the original article at https://www.lifehealthpro.ca/rss/