Vancouver mayor seeks Ottawa’s help to prevent real estate fraud

Vancouver’s economy is at risk because of the city’s out-of-control housing costs, so Ottawa needs to make sure it is doing the maximum to prevent real estate fraud, Mayor Gregor Robertson is warning the federal Finance Minister.

“I often hear from residents about fraudulent practices connected to home purchases in Vancouver. Though many of the stories shared may be anecdotal, they speak to a growing anxiety that warrants a robust response to ensure the public has full confidence in our regulatory systems,” the mayor wrote in a recent letter to Finance Minister Bill Morneau.

Mr. Robertson, who wrote to request a special meeting in British Columbia with Mr. Morneau and provincial representatives to discuss housing solutions, also warned that housing prices in Vancouver are still disconnected from local incomes.

Read more at The Globe and Mail

This article is summarized by Canadian Fraud News Inc.

Kayla Kuefler is the head writer and social media producer at Canadian Fraud News. Kayla was born-and-raised in Edmonton, Alberta and moved to Toronto in 2013 to pursue her Bachelor of Journalism at Ryerson University. Kayla has previously interned at Global News Edmonton, Global News Toronto and CBC News in London, England.

Leave a Comment