Description: You may be familiar with the stories of sky-high prices on real estate in Vancouver. One of the forces behind the rise is a practice known as shadow-flipping. In a shadow-flip, an agent earns multiple commissions on the same property by arranging resales of the property before the closing date. As well, those in the middle of these shadow flips may be able to avoid land transfer taxes. Meanwhile, prices keep going up.
Date: February 12, 2016
1) Have you ever heard of this practice of shadow flipping before?
2) Do you see this practice of shadow flipping as ethical?
3) What can the provincial and federal governments do to help make housing more affordable for those in over-heated markets?