“More than C$7 billion in dirty money was laundered in B.C. in 2018, hiking the cost of buying a home by about 5%, according to British Columbia’s Expert Panel on Money Laundering in Real Estate.”
Money laundering in Canadian real estate is a widely accepted fact of life these days, but the impact isn’t.
Looking to launder some cash?
We’re overestimating growth, thinking of it as heading towards low growth. In reality, we’re heading towards negative growth, once adjusted for inflation.
A massive survey of recent homebuyers reveals all.
Subprime goes to the Toronto condo market.
Big Six Banks’ out-of-control “Mobile Mortgage Specialists” on commission.