Globe and Mail: British Columbia’s real estate council opens ‘shadow flipping’ review

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VANCOUVER and VICTORIA — The Globe and Mail

Quoted in the artice:

David Eby, the housing critic for B.C.’s Opposition New Democrats, said issues around assigning contracts appear to have been known for some time. He pointed to a May, 2008, consumer alert from the provincial office of the superintendent of real estate that warned of the risks associated with the assignment of contracts.

Mr. Eby said with the problem re-emerging, the province does not appear to have taken adequate action.

Carolyn Rogers, who took over as superintendent of real estate nearly six years ago, said the conditions around the time of the alert were similar to the conditions now, with prices increasing rapidly.

“That seems to be when these kinds of things rear their head,” she said in an interview.

Ms. Rogers denied the superintendent’s office has been slow to act, saying it’s taking action now because concerns have only just arisen in the media and through two letters from Mr. Eby.

http://www.theglobeandmail.com/news/british-columbia/bc-real-estate-council-opens-shadow-flipping-review/article28711920/