“Poor Canadians – they just don’t understand.”

– Former realtor’s assistant Lynn Yang

.

I’m posting this today from The Globe and Mail’s investigation into the ‘assignment’ scam corrupting the Vancouver real-estate industry because already PT is getting comments on it.
.
.

Globe

 

Globe 2

.

Kudos to The Globe and journalist Kathy Tomlinson for doing the hard investigative work into a critical story. (What an embarrassment for The Sun, which isn’t.  At least The Province has Sam Cooper.)
 .
This – and more articles like it, which seem to be coming out weekly – are devastating for the real-estate industry, brokers and realtors in particular.  But I don’t think it’s a lack of understanding within the industry, nor among the regulators, nor their political masters.  I think it’s deliberate avoidance.  (‘Sorry, not enough data.’)
 .
So why the silence?  Have the industry leaders and regulators really nothing to say? Are they too scared?  Are they waiting for public confidence to collapse so completely that it will force the also-silent political leaders to take unpleasant actions?  Are they waiting for an ‘externality,’ deus ex machina – resulting in a market collapse without their fingerprints on it?
 .
I’d love to hear from Bob Rennie about now, because I expect it would be after consultation with Christy Clark, to whom he gave so much support.  Or perhaps that’s unnecessary because the upcoming Budget plans to address the matter.  (Though somehow I expect it will be targeting municipalities more directly than the real-estate industry.  Watch out for your CACs and DCCs, mayors.)
 .
In any event, what will it take to break the silence?