A few weeks ago I posted an article by Diane Francis of The Financial Post who suggested one way to regulate Canada’s housing market is to ban foreign investment. Click HERE to read that article and post.

Yesterday, Diane offered insight into the practice of speculators purchasing to-be-built condominiums with only five percent down and, without ever taking ownership, assigning the purchase contract to a new purchaser and pocketing the cash profit tax free. The practice is common, promoted by developers and shockingly, transpires without government knowledge or taxation.

Click HERE to read her valuable insights. It truly has significant bearing on our housing market to the detriment of resident Canadian buyers.

~ Steven

** Photo Courtesy Of The Financial Post.

Real Estate