Canadian investment in U.S. real estate has more than doubled in one year to 23.5% from 11%, according to real estate investor Westward Fund, Scottsdale, Ariz. The fund said exchange rates between the Canadian dollar and the U.S. dollar in addition to falling property values in the United States have been catalysts for the increase. Arizona in particular, where values have fallen in many instances, has drawn foreign investors, said E. Patrick LaVoie, manager for the fund. The fund said investors from the United Kingdom, China, Indian and Germany also have shown strong interest in U.S. real estate.
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