“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.”
“It is their interaction with froth that matters most. How much a housing market adjusts depends on how much froth there is”: Poloz
Money laundering in Canadian real estate is a widely accepted fact of life these days, but the impact isn’t.
How do they measure up against the most splendid housing bubbles in the USA? Oops!
Market for houses freezes up. House & condo prices drop. High end hit the hardest.
Looking to launder some cash?
How do they stack up against the most splendid housing bubble in America? Holy cow!
And where do Chinese consumers fit in?
Trade goes out-of-whack as Corporate America searches for cheap labor & tax benefits.
Another Global Financial Crisis, with China at the Epicenter?