Canadian Realestate Magazine forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Canada is too friendly to shady real estate purchases – report

Notify me of new replies via email
Canadian Realestate Magazine | 16 Nov 2015, 08:15 AM Agree 0
A new report says Canada’s lax rules make it easy for foreign buyers to hide cash through shady real estate transactions
  • MFenn | 16 Nov 2015, 04:24 PM Agree 0
    Well, of course the authorities should be against money laundering. But it's also easy to predicate 'shady' (to use a word in the article) which laundering indeed is, upon 'foreigners', with the result that bureaucratic measures which drive away investment are advanced with an almost paranoid mindset supposedly because of 'shady foreigners'. It almost sounds like George Orwell's caricature of the British Empire, whereby foreigners were 'sinister, treacherous' compared with the 'pure' British Imperialists. Or like Somerset Maugham's caricature of investors on the French Riviera: 'sunny place, shady people'. Such rhetoric or implied nuances have no place in serious investment forums. Especially when when the aim is to attract investors rather than drive them away.
  • E.T. | 16 Nov 2015, 11:06 PM Agree 0
    MFenn....When the government auditors finally follow the dirty money trail and it leads them abroad, will you overcome your fear of calling a spade, a spade, and stop being an apologist who's afraid to say something that may offend someone?

    I keep hearing from real estate agents that there is no foreign ownership problem. Funny though; when I ask them to show me the statistcal evidence that the foreign ownership levels are as low as they claim, they then acknowledge that there is no data. What kind of b.s. argument is that.

    Show me the evidence its not and I'll retract my words. Until then, keep telling your kids they got no chance of owning a home near any market where the good jobs are.

    Everyone knows whats going on here. Even newcomers from foreign lands who might otherwise have a chance to own a home.
Post a reply