Canadians looking for more affordable homes are increasingly looking south of the border for real estate investment, according to a new report. Foreign investment in U.S. real estate surged 49 per cent year-over-year for the 12-month period ending March 2017, according to new data released by the U.S.-based National Association of Realtors. Total foreign investment in U.S. residential property reached a new record high of US$153 billion, up US$51.4 billion from the previous 12-month period.

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