Mortgage Fraud 'rampant,' says expert

Louis Poirier, the Quebec representative on the National Board of the Appraisal Institute of Canada, says the sector attracts bad guys that can easily take advantage of those with a lot of cash and no experience.

“Real Estate is a powerful magnet," he says, "but it attracts the smart, the less experienced and the sneaky at the same time.”

Poirier is one of the lead speakers at the forthcoming Investor Forum in Montreal on September 7. He will showcase how investors can identify real property values and provide tips on due diligence.
Poirier will analyze the future of the market where he believes we are in for faster changes and possibly more volatile swings.

“I am certain the market is cyclical. Based on that certainty, I believe certain segments of the market are currently overheated and have to cool somewhat,” he says. “However, I think the instantaneous ‘I-need-it-yesterday’ world we live in will compress cycles and the new norm will continue to be re-written.  I think we are in for faster changes and possibly more volatile swings; that good investors will continue to get smarter, but that bad investors will continue to pay the price.”

He hopes that sustainable valuation parameters drive investor decisions rather than the flavour of the month or artificial value drivers and a promise of a quick buck.

“But speed and greed may continue to overshadow true values,” he warns.

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