Real Estate Insider Blog

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07
Jul
2016

How Brexit Affects Homes in the Clearwater Area


With Britain suddenly pulling out of the European Union, the shores of Florida are sure to start feeling the effects. You might not realize it, but there are a lot of ties between Florida and what has been the fifth largest economy throughout the entire world. The Brexit backlash was a severe jolt to say the least. Floridians are bracing for what lies ahead in the hopes that it doesn't destroy the economy. Here are some of the things that you can expect to occur with Brexit:

  1. Because the British pound dropped, it will make traveling to Florida far more expensive. While less British people will be able to come enjoy spending time in Florida, more Floridians will get to enjoy saving money on their trip abroad.
     
  2. Since the market has gotten stronger, any downturns in British investments throughout Florida won't be affected.
     
  3. Due to the cost of imports being cheaper, Florida might see a net positive on their trades. However, exporters are going to end up losing money due to the cost of the British pound.
     
  4. Since the US dollar is quite strong, it makes products more expensive for some of the other countries. This could cause them to look for other suppliers in the hopes that they can save money and still get the products they want. The value of an overseas sale is significantly reduced when it is converted to dollars. This means that Florida companies who deal with the European market for the majority of their sales are going to end up...
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