What!? Are Not All Canadian Houses and Real Estate Purchased (By Foreign Buyers) With Well-Earned, After-Tax, Clean Money?

Sarcasm aside, it is about time Canadians wake up to what is happening under their noses. and realize that despite all the complaining from potential buyers, government measures, increased taxes on foreign buyers, mortgage changes and FINTRAC regulations to ease real estate and housing price inflation - IT IS OUR OWN PROBLEM that Canadians have IMPORTED due to a lack of restrictions between domestic and foreign buyers as well as a lack of checks and balances on where those funds are sourced (not just geographically, but legally versus illegally). 

https://business.financialpost.com/real-estate/toronto-housing-has-become-magnet-for-money-launderers-with-28-billion-in-real-estate-bought-by-anonymous-owners-study

"...Toronto’s housing market has become a target for money laundering or “snow washing,” thanks to anonymous property ownership, weak regulation and lax enforcement, according to a new study.

Since 2008, $28.4 billion worth of housing was acquired in the Toronto region largely through private entities where owners can remain anonymous, according to a report released Thursday by Transparency International Canada, Canadians for Tax Fairness and Publish What You Pay Canada.

In that period, $9.8 billion of housing was bought by companies through cash purchases, largely bypassing anti-money laundering checks on fund sources and beneficial owners, according to the study, which analyzed more than 1.4 million residential sales dating back to 2008..."

Bank of Canada Rates Unchanged: Thank The Liberals For Bungling Canada's Energy Industry and its Contribution to Economic Growth That May be “Materially Weaker”

In the USA, the unemployment rate is closer to 4%, and is not complacent about it.  Here in Canada we are supposed to jump for joy at 6%.  The impacts of pipelines lacking is finally resulting in the rose colour coming off economists' and BoC's glasses.

What's that I hear? I think I hear a sigh of relief from real estate agents and mortgage brokers.

https://business.financialpost.com/news/economy/bank-of-canada-holds-interest-rate-at-1-75-per-cent

https://www.bloomberg.com/news/articles/2018-12-04/falling-car-sales-are-latest-sign-of-rate-hikes-hitting-canada?srnd=premium-canada

Bank of Canada Interest Rate Hike? Why, How?

How the BoC sees the world is beyond many of us. 

For those in the same real estate boat, with mortgage renewals due, the sooner the better to make your choices.  Two year fixed here.

https://business.financialpost.com/investing/david-rosenberg-things-arent-nearly-rosy-as-the-bank-of-canada-believes#comments-area