CTV: Waitress’s purchase of $2.3M Vancouver home prompts questions

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September 27, 2016

Quoted from the article:

“I can’t suggest that anything has actually been done wrong by anybody,” Eby said at a news conference Tuesday. “I’m simply saying that we need to have additional resources dedicated to investigate where this money that’s coming into our real estate market is coming from.”

The multimillion-dollar home that was purchased by a waitress in 2012 is three storeys, custom built, with hardwood flooring, a sub-zero fridge and stainless steel appliances, according to a description obtained by Eby.

“The taxes alone on this property in 2014 were $10,000 a year,” he said. “So a very successful waitress.”

In another transaction, a student bought a property from a homemaker for $2.06 million, then renovated it and sold it for $4.33 million to a self-identified businessperson.

Eby argued it’s possible some of the homes were purchased on behalf of a wealthy individual who wanted to avoid paying capital gains tax on the investment.

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