Diane Francis: Shining a light on money laundering in Canadian real estate

Increased consumer debt caused by Canada's housing bubble will lead to widespread financial pain once interest rates rise

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NanoScaleMoney
NanoScaleMoney
64 · 4 days ago · Reddit

I’m happy the narrative is starting to change and the masses are finally starting to wake up about what’s been happening in Toronto.

Unfortunately, the damage has been done and can never be repaired IMO.

Those fortunate to be born at a particular time basically won the lottery. Those born later got a raw deal.

EddyMcDee
EddyMcDee
14 · 4 days ago · Reddit

This is all that matters

"Banning foreign buyers for two years would also be helpful, but only if secrecy is abandoned and the actual beneficial owners of properties are no longer able to hide behind proxies, trusts, anonymous companies or offshore entities. A registry disclosing their assets has been promised by Ottawa, but has yet to materialize."