Quote:
Originally Posted by Galakanokis
There are stories galore about parked money in real estate out here. For three years in a row an unemployed mother and UBC student son lived in one of the most expensive pieces of property in vancouver. With no income they some how owned a house valued at $60M.
There was a neighborhood in North Van that two Chinese Billionaires (read monsters) owned every house. It was a small area with only 16 homes but the cheapest house was worth $3.8M. Not a single one was lived in.
Or Shaw Towers ( I think that is the name) where entire floors are owed by one or two people. They actually hire people to around and collect mail and make them appear lived in to avoid the empty home tax.
Scams galore out here. Easy to do when you don't need an actual name on the company that owns the property. Only province in Canada like that.
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The really sad part is that they dont even really have to try and hide it. Its an open secret.
Nobody has the Political Will to do anything about it.
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