Advertisement
Late last year, Global News Canada reported that Chinese organised crime had laundered around $1 billion through Vancouver property in 2016, and $5 billion since 2012, which helped to partly explain Vancouver’s explosive price growth:
While the study only looked at property purchases in 2016, an analysis by Global News suggests the same extended crime network may have laundered about $5-billion in Vancouver-area homes since 2012…
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.