Many Canadians have considered a move to the U.S.; Some two million Canadians have recently considered buying U.S. real estate

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1 Many Canadians have considered a move to the U.S.; Some two million Canadians have recently considered buying U.S. real estate Jack Jedwab Executive Director Association for Canadian Studies December 3, 2007 Over the past year, the rise in the Canadian loonie versus the U.S. dollar has resulted in Canadians securing greater buying power in the United States. This, in turn, has contributed to a considerable rise in the purchase of products across the border. It has also increased talk of investment on the part of Canadians in, for example, the slumping real estate market south of the border, particularly with Canadian cott properties at all time highs. Some Canadians believe the time is now to use the stronger currency to make a temporary or permanent move to the United States. According to the 2005 American Community Survey some three million Americans reported they were of Canadian ancestry (2.26 million reported they were of French-Canadian descent and another 714,000 reported that they were of Canadian descent). The Association for Canadian Studies ( with the support of Transition Financial Advisors Group, Inc. ( commissioned the firm Leger Marketing to survey 1,500 Canadians from November th to determine how many have considered moving to the United States, recently contemplated investing in U.S. real estate and whether they think there are significant obstacles in moving to the United States-in other words whether such a move would entail losing the benefits of being Canadian. According to Brian Wruk of Transition Financial Advisors With the rise in the Canadian loonie, we have had a spike in Canadians inquiring about moving to, or purchasing a second home, in the U.S. Our books The Canadian in America and The Canadian Snowbird in America are flying off the shelves because people want to know about the tax and estate planning implications of doing so. With offices in Arizona and Alberta, we are in the unique position of helping these folks. Brian Wruk, MBA, CFP (US), CFP (Canada), TEP Transition Financial Advisors Group - Pathways To The US 480/ fax: 480/ With offices in Alberta and Arizona, Transition Financial Advisors provides comprehensive wealth manment services for high net worth individuals who require specialized advice in relocating to the U.S. or purchasing property there. Highlights - Some 17% of Canadians say, I have considered moving to the United States. - Some 67% of Canadians say, I have never considered moving to the United States. - 29% of Canadians say, I would like to live in the United States part of the year - More than half (59%) of Canadians say, It is too complex to move to the U.S. - Some 59% of Canadians say, It is too complex to move to the U.S. - Over half (55%) of Canadians say, Those people who move to the US will lose the benefits of being Canadian. - Some 11% of Canadians say, I have recently considered purchasing real estate in the U.S

2 1. I have considered moving to the United States On the basis of langu some 16% of Francophone respondents say they have considered moving to the United States. This is the case for 18% of English respondents and 16% of persons whose principal langu is neither English nor French. I have considered moving to the United States French English Other 7% 7% 6% agree 9% 11% 10% 15% 13% 18% strongly 71% 68% 66% DK/Refused -.5% - On the basis of there are no there is no substantial difference across the spectrum in the extent to which people say that they have never considered moving to the United States. I have considered moving to the United States 65 or 6% 6% 9% 6% 9% 4% agree 15% 11% 15% 11% 6% 4% 22% 21% 13% 15% 9% 9% strongly 57% 62% 62% 67% 76% 83% On the basis of income Canadians who made over $40, 0000 are more likely to say they have considered moving to the United States than Canadians who made under $40, 000. I have considered moving to the United States Total 20k 20-39k 40-59k 60-79k 80k+ Total Agree 17% 14% 10% 18% 21% 23% 7% 6% 6% 7% 9% 8% 10% 9% 5% 11% 12% 15% agree Total Disagree 83% 84% 90% 82% 78% 77% 15% 17% 16% 15% 15% 13% strongly 68% 67% 74% 67% 64% 64%

3 2. I have never considered moving to the United States On the basis of langu 62% of Francophone respondents agree they have never considered moving to the US compared to 57% of Anglophone respondents. This is the case for 51% of respondents whose principal langu is neither English nor French. I have never considered moving to the United States French English Other 62% 57% 51% agree 10% 8% 17% 11% 15% 14% strongly 16% 20% 16% DK/Refused.3%.6%.2% On the basis of there is no substantial difference across the spectrum in the extent to which people say that they have never considered moving to the United States. I have never considered moving to the United States % 53% 54% 58% 67% 62% agree strongly 17% 13% 10% 8% 8% 6% 21% 16% 13% 14% 10% 12% 11% 18% 23% 20% 16% 19% 3. I would like to live the United States part of the year On the basis of langu there are no substantial differences between French and English respondents who say they would like to live in the United States part of the year. While nearly one- third (32%) of respondents whose first langu is neither English nor French say they would like to live the Untied States part of the year. I would like to live in the United States part of the year French English Other 9% 9% 11% agree 18% 19% 21% 22% 19% 20% strongly 54% 51% 46% DK/Refused.6%.6% -

4 On the basis of Canadians over the of 35 are more likely to say they would like to live the United States part of the year than Canadians below that. I would like to live in the United States part of the year agree strongly 65 or 6% 5% 10% 11% 12% 12% 17% 18% 18% 25% 20% 17% 26% 23% 18% 18% 17% 18% 50% 55% 53% 46% 51% 52% 4. It is too complex to move to the U.S. (immigration, taxes, healthcare, etc.) On the basis of langu it is persons whose principal langu is neither English nor French that are most likely to agree that it is too complex to move to the United States. It is too complex to move to the U.S. (immigration, taxes, healthcare, etc.) French English Other 33% 31% 41% agree 26% 23% 23% 19% 21% 20% strongly 16% 18% 18% DK/Refused.5%.6%.6% On the basis of there are no substantial differences between who do not believe it is too complex to move to the United States. It is too complex to move to the U.S. (immigration, taxes, healthcare, etc.) agree strongly 65 years of or 32,6% 27,5% 31,0% 33,4% 41,3% 38,4% 34,9% 31,6% 25,2% 27,8% 17,9% 19,2% 19,2% 21,5% 23,5% 16,9% 18,4% 16,8% 11,6% 13,4% 13,3% 11,9% 12,6% 16,8%

5 5. Those people who move to the US will lose the benefits of being Canadian Francophones (59%) are most likely to agree that those people who move to the United States risk losing the benefits of being Canadian than do anglophones (54%) or allophones (51%). Those people who move to the US will lose the benefits of being Canadian French English Other 33% 31% 30% agree 26% 23% 21% 19% 22% 19% strongly 16% 18% 24% On the basis of there are no substantial differences between those Canadians who say that people who more to the US will lose the benefits of being Canadian. Those people who move to the US will lose the benefits of being Canadian agree strongly 65 years of or 26,2% 24,2% 28,1% 35,0% 37,5% 36,0% 33,1% 27,4% 21,6% 23,4% 19,6% 18,4% 23,8% 25,8% 17,1% 20,8% 19,2% 19,2% 14,5% 19,8% 26,7% 15,5% 16,5% 17,6% 6. It is a nice place to visit but I wouldn t want to live there There are no substantial differences in terms of langu of people agree that the U.S. is a nice place to visit but I wouldn t want to live there. It is a nice place to French English Other visit but I wouldn t want to live there 57% 52% 52% agree 25% 27% 26% 8% 10% 11% strongly 10% 10% 10% DNK/Refused 2% 1% There are also no substantial differences in terms of income of people who with the statement, the U.S. is a nice place to visit but I wouldn t want to live there.

6 It is a nice place to visit but I wouldn t want to live there 20k 20-39k 40-59k 60-79k 80k+ 54% 61% 45% 54% 50% agree 26% 17% 31% 26% 26% 8% 10% 12% 10% 11% strongly 10% 11% 11% 10% 12% 7. I have recently considered purchasing real estate in the U.S The rise of the Canadian dollar and the fall in prices in the American real estate market have likely contributed to growing interest in the purchase of property south of the border. On the basis of langu allophones are more likely to say they have recently considered purchasing real estate in the U.S. (14%) than anglophones (11%) and francophone respondents (5%). I have recently considered purchasing real estate in the U.S. French English Other 2% 5% 3% agree 3% 6% 11% 14% 14% 21% strongly 81% 74% 63% DK/Refused 0% 1% 1% Not surprisingly, income is also a factor when it comes to Canadians considering purchasing real estate in the U.S. Nearly one in six Canadians (15%) of Canadians whose income is over $80,000 say they have recently considered purchasing real estate in the U.S. compared to 7% of Canadians whose income is under $40,000. I have recently considered purchasing real estate in the U.S. 20k 20-39k 40-59k 60-79k 80k+ 4% 2% 3% 5% 6% agree 2% 5% 6% 8% 9% 15% 16% 13% 16% 18% strongly 78% 74% 77% 71% 66% DK/Refused 1% 2% - = =