Hi cloudsail, they're not in Canada. Palm Desert, CA=Snowbird HQ. I bought my first house there in 2003. We picked up two more in the last two years for about the same price per sf that I paid for the first one. Still looking to pick up a couple more before the loonie rebounds. Nothing so far, but as the summer desert temperatures soar, prices tend to drop, so fingers crossed.
I should point out that these homes are located in a very large senior community. Canadians are not selling off these homes en masse, but as the owners pass away or age to the point where they stop traveling, they sell, because: Canadian Healthcare > American Healthcare.
At the moment, the pool of new Canadian buyers has shrunk considerably . Since CA still has plenty of winter sunshine, and the loonie *will* rebound, we see this as a good time to buy. They still rent quite easily.
We are not expecting to make a killing on them. These homes have good bones, but they're starting to get old enough that a little nipping and tucking is in order. Most people do not want to do this work, they want turnkey living. We love doing this stuff, so it will be something fun we can do together, at a relaxed pace, when DH retires.