Dirty money and foreign ownership not driving Vancouver Real Estate market

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This is very interesting stuff. Read the article and watch the videos to understand what the experts know……..

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.

“Undoubtedly some of that money would wind up in the real estate market, and certainly not enough to be driving the home prices or enough to be driving the real estate market in general,” Muir said.

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