“Go after the money launderers, illegal real estate flippers, scammers, tax evaders” ‒ British Columbians respond to budget consultation

By ThinkPol Staff

British Columbians want the government to go after money launderers, tax evaders, speculators and other fraudsters operating in the province’s real estate market, public responses to the governing NDP’s 2018 budget consultation show.

Premier John Horgan’s government is scheduled to deliver its first full budget on February 20, and the NDP sought public input to on what to include in it [1]https://www.bcndp.ca/budget-2018-priorities.

Many citizens publicly shared their responses to the NDP’s request for consultation, and corruption, speculation and impact of foreign buyers on the housing market seemed to concern many.

“Pass a law no one can buy land or houses unless they are Canadians and jumped up prices will fall,” Dave Devitt of Chilliwack, BC, wrote. “When our kids can’t buy million dollar houses somethings wrong!”

“Healthcare, education and mental health and addictions funding,” Wendy Kathleen said. “Go after the money launderers, illegal real estate flippers, scammers, tax evaders and use the money towards all the above!”

“I’d like to see some real disruption of the corruption in BC – money laundering, organized crime, the debacle that is our housing market, etc,” Bex Tress wrote. “This requires manpower and money to oversee/enforce legislation. Be merciless.”

Others wanted the province to protect rental and affordable housing.

“Rents and loopholes used to kick tenants out so landlords can raise rent are out of control. Foreign investors are driving prices of housing up,” Nathan Bauman wrote. “Most landlords ban pets. Generations will grow up without happy and secure homes so that the rich can get richer. Please do something, Mr. Premier. Band-Aid solutions won’t cut it. Housing should be a human right.”

“I would like to see a focus on affordable housing,” Marjorie Plante told the NDP. “Not only building more but passing policies that protect people who live in low affordable options from being taken advantage of.”

But not everyone was on board with deflating the housing bubble.

“After I read post after post about crashing the housing market, I truly believe that people don’t understand the negative impact that would be for BC,” KrystalDawn Cooke of Victoria, BC said. “So many jobs are associated with the housing market. Unemployed people can’t afford houses either even when they are $300k. Think of all the trades, realtors, lawyers, restaurant workers and etc that have jobs because the housing market is doing so well.”

References   [ + ]

1. https://www.bcndp.ca/budget-2018-priorities

15 Responses to “Go after the money launderers, illegal real estate flippers, scammers, tax evaders” ‒ British Columbians respond to budget consultation

  1. LM says:

    While I agree with the sentiments expressed here, I filled out this survey and I would not be pleased to see my comments, name and location published. I don’t recall giving permission for the info to go anywhere beyond the NDP. How has ThinkPol.ca obtained this info? Was it through an FOI? Confusing.

    • Derek Zoolander Center For Children Who Can't Read Good says:

      >Many citizens publicly shared their responses to the NDP’s request for consultation, and corruption, speculation and impact of foreign buyers on the housing market seemed to concern many.

      Perhaps you should learn to read. These are people who shared their responses publicly. If you didn’t share them publicly, they would not be made public.

    • AC says:

      “Many citizens publicly shared their responses to the NDP’s request for consultation, and corruption, speculation and impact of foreign buyers on the housing market seemed to concern many.”

      Please read the article before commenting. Thanks.

  2. Rosemary Cooper says:

    In regards to the last comment in your article by Krystal about the impact on the economy that’s why in my suggestions for the budget I said that the NDP should put real money, policy, incentives AND programs on-the-ground to focus on diversifying the economy beyond real estate and even fossil fuels! There’s ton of efforts towards this in Vancouver itself but very little beyond. I know it works because I did this kind of real economic development work to benefit communities – versus just large corporations – for the first five years of my career and it can really work well. We’ve just taken the lazy route in BC so far under Christy and it’s time to change.

  3. Ted cruz says:

    Panic and buyer confidence is the lowest it has been in the last 18 years. Builders, developers and flippers/ investors are on a selling spree. Market is getting saturated with condo flippers by the day. So called investors/ flippers pre bought thousands of condos with the idea that they will make $250k when completed, are now faced with a tanking market, higher interest rates and new mortgage rules. End of February will be another few nails in the coffin for flippers. Overseas buyers will think twice before investing in vancouver for many years after the burn and crash.

    Single family homes are under water by 300k from 2 years ago in east vancouver and up to 1 million In the west.

    Park your money in stocks for now.

    Hold on and good luck.

    • earl hickey says:

      It sounds like the real estate market took care of itself w/o the need for government intervention

      • Ted cruz says:

        Government intervention is the exact reason the RE market is in panic. The last thing china wants is the outflow of cash, trump is putting the squizze on them hence the new restrictions in china re: outflow of cash. 15% foreign tax, empty home tax and new measures coming in a month.

        There are hundreds of properties in the city of vancouver sitting empty. It was easier for flippers to sell a vacant house instead of a rented house, they are now getting hit with 10s of thousands in taxes. Most buyers prefer buying an empty house instead of dealing with leases. People need to report empty houses to the city and stop this madness.

        • nonconfidencevote says:

          Most of the people involved in the money laundering never think they will be caught.
          Wouldnt bother me one bit to see these houses auctioned off as “proceeds of crime” and all monies seized.
          Time for some high profile property seizures and return the money to the Chinese govt to send a chill into the craven, greedy hearts of the speculators?
          The govt can do anything it wants just by passing a Law.
          Assuming the govt wants this tax cash cow to end?

  4. Raymond Wong says:

    This should be a no brainer! Our government at all 3 levels should be cracking down money laundering, speculation, tax evasion/avoidance, fraud, shady real estate practices, etc. Why do we have to pressure the government on this?

    • nonconfidencevote says:

      Why do we have to pressure govt.
      It might be the millions of dollars given to all levels of govt for their election war chests by the Real Estate industry, the Developers, Lawyers, etc that have become rich by running this entire debacle.
      Spineless doesnt even do justice to what has posed as “leadership” in this city, province and country over the past 10 years.
      Well, its all coming home to roost in 2018.

  5. Gregor Robertson says:

    I admit I am a insider who only cares about bike lanes and young Asian woman, I don’t even comb my hair anymore. I ruined this city.

    • nonconfidencevote says:

      lol
      God Bless you “Gregor”.
      Now that your not seeking re-election.
      The truth shall set you free.
      Now if we could only do something about the rest of the “Visionistas” infesting City clowncil.
      Oh well, I guess we’ll just have to wait until Nov. to decimate their ranks.

    • Nataliya says:

      Well said! and exactly to the point.

  6. Ted cruz says:

    City of Vancouver knew what was going on and chose to monitize it instead of stoping it. Many examples but here is one of them.

    Developers would submit development applications for new a building, city of vancouver would take 8-12 months to approve, by that time property values gained from 10-15%. The developer would simply flip the property take the profit and never pick up the permit when it was approved. City of Vancouver figured they can make money from rising values so they started charging development permit fees up front before being approved – 10-20k for each permit.
    Just like the mafia, city would collect their fee but never issue the permit if the builder didnt pay the remainder of fees. Total fees 35-40k

    For reference, city of Burnaby takes 1-3 months to approve a building permit. Fees 10k

  7. Nataliya says:

    Canada should be for Canadians first and not foreign buyers.

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