skip to Main Content

Dirty money isn’t driving hot housing market, says BC Real Estate Association

By Liza Yuzda and Simon Little for Global News

In the wake of former high-ranking Mountie Peter German’s damning independent report on money laundering in B.C. casinos, attention is now shifting to possible illegal flows of money in the real estate industry.

The report highlighted potential money laundering links to both the illegal drug trade and the city’s white-hot housing market, and a Global News investigation identified similar troubling connections in what is known as the “Vancouver model” of transnational crime.

Vancouver Real Estate News, Market Updates, Insider Tips, Stats, & Analysis

Sign up for insider real estate news & tips from our podcasting team.

Are you a realtor? Click here
Selling Your Home? Click here

  • Reload
  • Should be Empty:

Attorney General David Eby has tasked German with a second phase of the investigation, looking at the role of organized crime in the real estate sector.

Cameron Muir, chief economist for the BC Real Estate Association, acknowledged that money laundering is a concern, but said he thinks concerns are being overstated when it comes to housing.

Continue reading the full story here >>

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

As Seen and Heard On

Media enquiries and press contact info:

© 2020 Matt Scalena PREC* & Adam Scalena PREC* , all rights reserved • Site MapBy Line49 Web Design, Vancouver BC

*Considering a real estate transaction? One of the first decisions you will need to make is whether you should work with a licensed real estate professional who will represent you. Take a moment to read this important consumer protection information from the Real Estate Council of BC. This form explains the special legal duties that real estate professionals owe to their clients. CLICK HERE and please call 778-847-2854 or 778-866-4574 immediately if you would like to discuss.

Back To Top