“It used to be called Trudeau Peso”: Shark Tank’s Kevin O’Leary on why Canadians are selling U.S. homes

Canadian homeowners with properties south of the border are making some big moves. Amid a turbulent political season and economic unease, many are choosing to cash out on their U.S. vacation homes. And according to Shark Tank’s Kevin O’Leary, it’s not just a financial decision—it’s a reflection of a deeper issue with Canada’s currency and politics.

“It used to be called Trudeau Peso,”

O’Leary said during a Fox Business segment, pointing directly at the sharp decline in the Canadian dollar’s value.

In a recent interview, he explained that upcoming Canadian elections are part of the reason behind this wave of sell-offs. However, the core issue, he argues, is how years of liberal leadership affected the currency and made U.S. vacations and real estate unaffordable for the average Canadian.

“It’s not that they’re giving up their homes. It’s that the last administration, the liberals, actually wiped out the value of the Canadian dollar,”

O’Leary said.

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Why this Shark Tank star thinks the Canadian dollar is driving sales

O’Leary, known for his blunt takes on economics on and off Shark Tank, pointed straight at the exchange rate as the root of the problem. At one point, the Canadian dollar was nearly at parity with the U.S. dollar. Now, it’s fallen to around 70 cents—and in some cases, lower.

That drop hits hard for average Canadians. As O’Leary put it,

“Canadians can’t really afford an average salary of 68,000 to go to Disneyland or go to Florida. They don’t have the currency which is worth anything anymore.”

In other words, U.S. vacations and property ownership, once within reach, have become luxury expenses. For homeowners, selling their U.S. properties while the American dollar is stronger makes financial sense.

While Shark Tank deals usually focus on private business, O’Leary’s commentary shows how political leadership can affect personal finance choices, even vacation home ownership.

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The political storm brewing in Canada, explained by the Shark Tank investor

With Canada’s elections set for next Monday, O’Leary described the moment as “extraordinary.” And while his career on Shark Tank might involve negotiations and investments, his take on politics shows he’s keeping a close eye on his home country.

“There has never ever been advanced polling this high,”

He said, calling Canadians “very very motivated” and even “buku motivated” to vote.

O’Leary pointed to the Liberal government’s 10-year reign as a major factor in the upcoming election’s intensity. He said their policies wiped out “a quarter of the population who lived just above or below the poverty line.” That’s a bold claim, but it’s clear he sees this election as a turning point.

Though current polling shows the Liberals still in the lead, O’Leary believes their new face, Mark Carney, won’t bring much change.

“He’s just Trudeau 2.0,”

O’Leary said.

This kind of talk isn’t new for the Shark Tank veteran. He’s known for calling things as he sees them, whether it’s a pitch on television or a political forecast.

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What the future may hold for Canadian investors

While the Shark Tank star is best known for turning business pitches into profitable ventures, his recent comments focus more on voter behavior than balance sheets. In this case, he’s paying close attention to both markets and elections.

According to O’Leary, many Canadians are eager to vote.

“Canadians are very very motivated,”

He said, pointing to record-high early polling numbers.

It’s still unclear what impact the election will have on the Canadian dollar or housing trends. Some may continue selling their U.S. properties if the exchange rate remains low. Others might wait to see how the political landscape shifts.

But as O’Leary’s comments suggest, currency, real estate, and politics often move together. For Shark Tank fans and homeowners alike, it’s a moment worth watching, especially if economic concerns start influencing personal financial decisions.