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There are ghost floors in condo buildings in Toronto. Like really. I've seen it, a whole floor. Family office would fly to Canada, buy floors of buildings, leav
by neom 3y ago
There are ghost floors in condo buildings in Toronto. Like really. I've seen it, a whole floor. Family office would fly to Canada, buy floors of buildings, leave. The government finally banned this, but the empty units still exist.
- bboygravity 3y agoFor the lesser informed: family office is like a hedge fund but with less regulation.
- xbmcuser 3y agoIts not just family offices. Billions of dollars from proceeds of corruption and crime from developing world and poor countries is parked in the real estate of western cities. But western governments turn a blind eye as this allows their 3 letter agencies to control corrupt foreign officials.