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The Yen Man · 09-29-2011, 01:59 PM

I swear the guys from China are using the Canadian housing market to launder their money from China. I hear stories of Chinese investors buying up condos in Vancouver and Toronto using boxes of cash, and purchasing multiple units (like 6 or 7) in one sitting.

I guess as long as they're siphoning money out of China and investing it in Canada, then it's not all bad? But I don't see how this situation can continue without pricing the average joe who just wants to buy a place to live right out of the market.

09-29-2011, 01:59 PM	#13
The Yen Man Franchise Player Join Date: Feb 2006 Location: Calgary Exp:	I swear the guys from China are using the Canadian housing market to launder their money from China. I hear stories of Chinese investors buying up condos in Vancouver and Toronto using boxes of cash, and purchasing multiple units (like 6 or 7) in one sitting. I guess as long as they're siphoning money out of China and investing it in Canada, then it's not all bad? But I don't see how this situation can continue without pricing the average joe who just wants to buy a place to live right out of the market.