Quebec snowbirds fleeing Sunshine State in droves due to high costs, weak loonie

Many Quebec snowbirds living in Florida are listing their properties for sale, citing the high cost of living and a beneficial exchange rate due to the declining value of the Canadian dollar. 

Jasmin Gosselin has been escaping Quebec's freezing temperatures for over 20 years, seeking refuge in his Boynton Beach condo, nestled in the Sunshine State. 

But his comfort doesn't come at the expense of his convictions. Gosselin has recently decided to sell his condo, citing U.S. President Donald Trump's attitude toward Canada and the Canadian people as a key reason for his departure.

"Trump doesn't respect Canada," Gosselin told Daybreak's Sean Henry.

"[He] doesn't respect snowbirds who spend their money during four, five months in Florida. We feed their economy and he doesn't respect us." 

The newly inaugurated president has vowed to impose a 25 per cent tariff on products from Canada and Mexico unless they curb the flow of drugs and migrants across their borders.

While Gosselin considers this threat disrespectful, he acknowledges that rising costs are also putting pressure on his wallet.

He and his wife, who turned 70 last year, are finding it increasingly difficult to live in the U.S.

"My HOA [homeowner association] fees were around $500 [US] a month five years ago. Now, it's $900 [US] a month this year," said the snowbird.

HOA fees, monthly payments made by homeowners, finance the maintenance of shared spaces. 

Insurance and health issues have also added financial strain on the couple.

But despite the worries weighing on Gosselin and pushing him to sell his condo, one incentive also stands out: profit. 

"When I bought the place 11 years ago, I bought it with a much lower US dollar, so I will obviously make a capital gain on that," said Gosselin. 

The value of the Canadian dollar sits at around $0.70 US, the lowest it's been in five years. While this is troublesome for many, for Gosselin, it presents a favourable exchange rate.

More sellers, fewer buyers

Real estate broker Alexandra DuPont echoes Gosselin's observations on the exchange rate. 

The Quebecer with DuPont International Realty is based in Florida's Broward County, a popular area for Canadians, according to her. She has noticed a growing trend of snowbirds selling their properties. 

"Some people are still buying, but we're really seeing a huge influx with sellers," DuPont told Quebec AM's Julia Caron. "The buyers are quite rare." 

She attributes this phenomenon to the exchange rate, noting the market is unlike anything she's experienced in 10 years.

Other factors contributing to her clients's decisions to flee Florida include the high cost of living.

"Everything's gone up," she said. "The insurance, the monthly condo dues, pretty much everything that has to do with condominiums."

Although she has yet to hear clients cite a new Trump administration as their reason for leaving the U.S., for Gosselin, the political climate is enough to push him to explore other options. 

"We might go somewhere else," he said. "First step is to sell the place and then we'll see."