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Sunday , 26 March 2017

Monthly Archives: August 2015

Vancouver real estate: hotbed of Chinese money laundering?

Reports that Vancouver is a major destination for illegal money from China seem a little exaggerated. A Vancouver paper, The Province, reports that Vancouver International Airport is the “major port of entry” for the money, which is then laundered through the real estate market. The paper says that documents from the Canada Border Service Agency (CSBA) show that approximately $15 million in “illicit” money was seized by agents from Chinese citizens at the Vancouver and Toronto airports over a period of about eighteen months between June 2012 and December 2014. Of that, $10 million was taken at Vancouver airport. In the year 2012, $249.57 billion in illicit money was transferred ... Read More »

Buyers value the home itself more than any other benefits

The benefits of home ownership are often put in financial terms. A home will usually appreciate in value over time, helping to build a person’s personal wealth and acting as a form of relatively painless savings plan. Paying a mortgage is not like paying rent because the payments are for an asset that one owns, and the payments are predictable over time, depending on the type of mortgage. The equity a person builds in a home can be leveraged for other purposes, such as purchasing a second property, or investing. Are these same benefits uppermost in the average person’s mind when he or she goes shopping for a home? Yes, ... Read More »

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