Snowbirds will face a 'perfect storm' of rising costs this winter
BNN Bloomberg
Canadians heading south for the winter will be met with a slew of rising costs, coupled with inflation and competitive real estate prices.
“Unfortunately, it's really a perfect storm for snowbirds and we started to see some of it last year,” Stephen Fine, the president and managing editor of snowbirdadvisor.ca, said in an interview Tuesday.
Fine said that snowbirds started to see heightened real estate costs for buying or renting in the U.S. Sunbelt last year.
“So we saw that last year but this year with inflation we've also seen increases in food costs, groceries, restaurants, transportation…flights, gas [and] vehicle transportation, which is all-important for snowbirds,” Fine said, adding that the weakened Canadian dollar is also driving up costs.
