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| Subject: 1.08 - oh, how painful |
Ok, fellow ex-pat U.S. PRs. I hope you´ve exchanged your US$ assets into CDN$ by now. Because if not, it´s going to be awfully painful (not unlike a certain medical check).
How long and how far can this go? (And try to control the smirking from the Cannucks here, ok?)
[06-11-2007,23:26]
[**.53.225.148]
Richard |
(in reply to: 1.08 - oh, how painful)
1.0851! I am hearing mutters of $1.10
did you ever arm wrestle with a big brother and always lose? Do you remember the day when you beat him for the first time? This is almost as satisfying as Winning the gold medal hockey game against the US. (note that I say almost).
For some people this is the first time in their entire lifetime when the Canadian dollar is kicking butt.
[06-11-2007,23:57]
[***.121.220.199]
Sharon |
(in reply to: 1.08 - oh, how painful)
omg, 1.10? I´m choking already. lol on the hockey, although I always rooted for the Leafs wining the Stanley cup, out of spite to my native Blackhawk friends.
I know what you mean about finally and for once being on top, even if only for a while. But they´re talking this may last a coupe years.
I have to admit, for decades those "ugly Americans" arrogantly flaunted themselves in their "if it´s Tuesday it must be Belgium) travels around the world (I was never like that). I think we may see a bit more modesty and humbleness now, at least in their spending sprees.
[07-11-2007,00:12]
[**.53.225.148]
Richard |
(in reply to: 1.08 - oh, how painful)
where the shock is coming is that both the Euro and the CND. dollar are beating the crap out of the US dollar. So the problem isn´t an over inflated Canadian currency, it is a shrinking US dollar against everyone else.
The problem is that any corrective measures to slow things down will kill Ontario or fuel inflation so they have to sit there and watch. This is horrible news for the lumber industry in BC.
Modesty would be novel!
[07-11-2007,00:29]
[***.121.220.199]
Sharon |
(in reply to: 1.08 - oh, how painful)
Yeah, it´s a bit of a shock, and combined with the sinking housing prices here and still-rising housing prices in Canada, it´s making the timing a bit more difficult financially. Then combine that with much higher prices in Canada for virtually everything, and it gets a bit stressful. Granted, for us anyway, making this move has never been a financially sound decision to begin with, so a lower US dollar won´t have any major impact on our move.
Richard: are you narrowing your city search? We´re still up in the air, even after our recent trip to Halifax. Still love the city, but we did see that securing a job before moving there would be essential. And because we drove much of the way, we got a very good sense of how far removed it is from, well, just about everywhere, which we´re not sure about. So another look at Ottawa is in order, and then it´s crunch time. We´d really like to move this summer, if possible.
[07-11-2007,08:37]
[**.72.65.164]
wannabecanadian |
it gets worse!!!! (in reply to: 1.08 - oh, how painful)
CBC newswire-
The Canadian dollar broke through the $1.10 US mark in overseas trading early Wednesday.
Analysts say the high-flying loonie, which hit the 110.02 cents US mark, shows no sign of landing anytime soon.
The currency set a modern-era record last Friday when it rose to 1.07 cents US, the highest it´s been since 1950.
Analysts say the latest surge is credited to an impressive run-up in the price of crude oil, which is now flirting with the $98 US a barrel mark Wednesday.
Analysts also point to surging gold prices and solid returns for other commodities, particularly wheat.
The weak American dollar is further boosting the loonie.
[07-11-2007,09:15]
[***.121.220.199]
Sharon |
(in reply to: 1.08 - oh, how painful)
Yes, there is no sign that this will change very soon. Though some analysts see possibility after the end of this year, doesn´t look very realistic to me.
I think Richard like guys have 3 options;
1. Exchange now without any farther loss.
2. Keep the US funds in US accounts for the future more stable period.
3. Wait for more stable time for the final move.
The negative side of waiting is, Caandian real estate market will always rise. So in one hand you may save some dollar loss, but have to spend more for home buying.
[07-11-2007,10:39]
[***.254.208.242]
Departed_Canadian |
(in reply to: 1.08 - oh, how painful)
BIG TROUBLE - China has announced it wants to sell off some of its huge (trillion $) US currency reserves in favour of some other currencies.
[07-11-2007,12:57]
[***.121.220.199]
Sharon |
(in reply to: 1.08 - oh, how painful)
wannabe:
Same situation with us as with you. Still not completely decided on location, but looks like Toronto suburbs or London, mostly due to proximity from Chicago. Halifax area still on the list, but quite a ways and requires more time and planning due to distance just to visit.
Vancouver Island is of interest since Bob (remember him here?) reports back by email that he loves it out there. He´s already moved into his house in Nanaimo. But talk about distance to Halifax, VI is across the continent. Weather and scenery is great there, though (as he confirms).
Problem with USD for sure (mumbling nasty words about current WH occupant). As DC has said, "guys like us" have only a few choices. I think the rate is so bad now, it doesn´t make sense to exchange now. Best thing is to either wait until USD comes back and then move (as DC said), or buy or rent something cheap now for temporary living accommodation until USD comes back. Then buy something permanent. Quite a dilemma.
Your thoughts and plans always appreciated. Maybe exchange email.
Getting a job first might be not so easy. Everyone here says that it´s almost impossible to get a job if residing outside of Canada. They say one has to move and live there first before any employers will be interested. But then how do you know where to move to match up with a job. A bit of a dilemma.
[07-11-2007,13:04]
[**.53.225.148]
Richard |
(in reply to: 1.08 - oh, how painful)
I forgot to add: You´re absolutely right. Add declining house prices here to rising prices in Canada, and that everything
(except hockey gear and frozen fish) is always more expensive there. And scarcer jobs, doesn´t help at all. So for Americans, moving to Canada is a financial challenge. There must be a strong motivational factor beyond finances to do this now.
[07-11-2007,13:13]
[**.53.225.148]
Richard |
(in reply to: 1.08 - oh, how painful)
Richard,
Sorry to take the last spot here, just curious, how would you decide your choice of destination before getting any job? Shouldn´t be it more like get the job, then move there, this is the most obvious case, at least initially.
To me it appears that in Canada furniture is cheaper than the US.
[07-11-2007,13:18]
[***.254.208.242]
Departed_Canadian |
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