3 ms·

This article doesn't pass the smell test, it is pure speculation. Their theory is basically that 1) quick successive buying and selling always drives real estat

This article doesn't pass the smell test, it is pure speculation. Their theory is basically that 1) quick successive buying and selling always drives real estate prices up and 2) money launderers always engage in such activity because they want cash. If 1) was true, the profit seeking motive would ensure that everyone would be doing it, not only money launderers. As for 2), I don't see a reason why criminals wouldn't also be long term investors. If a criminal successfully acquires real estate without raising flags, why risk immediately cashing it out? If they need cash for their criminal activity, why bother "cleaning" it?

dirtyid 6y ago
At least for Chinese buyers, they like BC for the weather, and east coast for convenience of flying back to China, and Canada in general for the now defunct investor VISA programs that made PR/Citizenship relatively simple. >money launderers I wonder if evading Chinese capital control is technically money laundering if such capital controls does not exist in Canada. That's like punishing Chinese dissidents for speech in Canada because said speech is illegal in China. Rich people get to escape repressive governments too amirite?