37% of Metro Vancouver sees real estate industry as ‘extremely corrupt’

Report comes as the B.C. government continues to probe alleged links of money laundering in casinos to real estate

In Metro Vancouver, the real estate industry touches a nerve for many when asked about corruption, according to a new report.

Transparency International Canada released results this week from its survey on western Canada’s perceptions of corruption. The survey explored 1,207 people’s views on a wide range of sectors, including political parties and the oil and gas industry.

Nearly four-in-ten, or 37 per cent, of Greater Vancouver respondents described the real estate sector as “extremely corrupt.” That’s compared to to 15 per cent of other respondents.

REPORT: Money laundered through B.C. casinos for years

The report comes as the B.C. government continues to probe hefty allegations linking money laundering in casinos to real estate. Efforts include appointing an expert panel and commissioning Peter German to investigate the movement of dirty money into real estate, horse racing and the luxury car market.

READ MORE: Money laundering in B.C. casinos was a ‘collective’ system failure: report

READ MORE: B.C. asking for tips on ‘dirty money’ in horse racing, real estate, luxury cars

Still, real estate remains a dominant issue due to soaring housing prices, Transparency International Canada said.

“These prices created lucrative opportunities for unethical conduct by real estate agents, with conflicts of interest representing both buyers and sellers enabled by lax and ineffective regulation and a lack of transparency,” the report reads.

“While these practices have led to new rules and government regulation, allegations of conflicts of interest continue to be made against Vancouver politicians and the real estate industry.”

Overall, 47 per cent of respondents perceived federal political parties to be most affected by corruption, according to survey results, followed by provincial political parties and then the federal government.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Flames double Pilots 6-3 Friday

Bourhill scores two in return from injury

Giant pumpkin growing new tradition in Whonnock

Hungry goats and sheep take out many entries in first contest

Maple Ridge goaltender in WHL Cup

Kelsey with Team BC in prestigious tournament

LETTER: Elderly Maple Ridge woman grateful to retrieve her purse

Arlene Streng wishes she could personally thank the kind ‘lady’ who rescued her

ALONG THE FRASER: Gone fishing – a wee break from bad news

VIDEO: Fraser River’s sockeye and chinook in jeopardy of being wiped out as a result of Big Bar slide

ELECTION 2019: It’s so close, it could come down to who turns out to vote

Black Press Media’s polling analyst on the origins of predictive seat modelling in Canada

Jack’s Devils beat Quinn’s Canucks 1-0 in NHL brother battle

New Jersey youngster scores first career goal against Vancouver

Two charged after owner’s wild ride through Kamloops in his stolen truck

Crystal Rae Dorrington, 37, and Derrick Ronald Pearson, 32, facing multiple charges

Kamloops Blazers blank Vancouver Giants

A loss on the road for G-men

Man found dead inside Richmond business, IHIT investigating

Police believe the incident was not random

Judge orders credit union’s bank records for Kelowna social worker facing theft allegations

The man is accused of negligence, breach of contract, fraud and a conspiracy with Interior Savings

Leaders pour it on with rallies, boosts for candidates as campaign reaches peak

The federal election campaign has reached a crescendo

Allegations of racism lead to ministry investigation at Vancouver private school

St. George’s School was contacted over what the school describes as ‘deeply offensive behaviour online’

Not a political question: Thunberg calls for climate action in Alberta

Edmonton police estimated the size of the crowd at about 4,000

Most Read