Maybe those 20 years of money laundering in BC, with billions being laundered and invested in real estate, weren't such a good idea. The model used by organised crime and Chinese gangsters is known worldwide as the Vancouver model and resulted in all the vacant homes in Vancouver. Walk through Vancouver at night and not very many lights on! Real estate was used as a bank due to many off shore people not trusting banks. The result was a false inflation of prices and an increase in equity for legitimate home owners. This increase in equity spilled over to other places in bc with many people buying multiple homes. Chesterman is a prime example with many of the homes being 4th and 5th homes not 2nd homes. The best part....the public enquiry found no evidence of corruption and not a single sentence served. Money laundering by definition is corrupt. THANK YOU NDP for facilitating much of the laundering through BC government casinos. So much smells with our government and now they are shocked at rent and house prices.
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Maybe those 20 years of money laundering in BC, with billions being laundered and invested in real estate, weren't such a good idea. The model used by organised crime and Chinese gangsters is known worldwide as the Vancouver model and resulted in all the vacant homes in Vancouver. Walk through Vancouver at night and not very many lights on! Real estate was used as a bank due to many off shore people not trusting banks. The result was a false inflation of prices and an increase in equity for legitimate home owners. This increase in equity spilled over to other places in bc with many people buying multiple homes. Chesterman is a prime example with many of the homes being 4th and 5th homes not 2nd homes. The best part....the public enquiry found no evidence of corruption and not a single sentence served. Money laundering by definition is corrupt. THANK YOU NDP for facilitating much of the laundering through BC government casinos. So much smells with our government and now they are shocked at rent and house prices.
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