Billions in 'unknown' funds flowing into Canada's housing market [video]

Re:Billions in 'unknown' funds flowing into Canada's housing... by crummy on Friday July 30, 2021 @01:23AM (#28004753)

You think the price of 500k houses has been driven to 1m thanks to people who can throw around 25m?

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Re:Billions in 'unknown' funds flowing into Canada's housing... by eurasiantiger on Friday July 30, 2021 @01:44AM (#28004843)

Yes. Those people buy multiple properties in an effort to launder their drug money. Just look at the situation in Marbella.

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Re:Billions in 'unknown' funds flowing into Canada's housing... by petre on Friday July 30, 2021 @02:16AM (#28004997)

You probably mean this?

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Re:Billions in 'unknown' funds flowing into Canada's housing... by TedDoesntTalk on Friday July 30, 2021 @03:21AM (#28005308)

That’s a great read. Thank you. I was in Marbella in the 1990s, in awe of the ostentatious wealth, but had no idea it was from drug trafficking.

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Re:Billions in 'unknown' funds flowing into Canada's housing... by eurasiantiger on Friday July 30, 2021 @05:45AM (#28006228)

Yes. The situation is likely similar all over the world where there is a housing bubble and large markets for drugs.

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Re:Billions in 'unknown' funds flowing into Canada's housing... by voisin on Friday July 30, 2021 @06:13AM (#28006382)

An unexpected benefit to legalizing and taxes drugs: lower incentive for drug dealers to Jack up the price of houses!

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