While he wouldn’t provide specifics, Tory said there needs to be more transparency in real estate transactions. “How could that do anything but contribute to the frothiness of the real estate market and the frenzied increase in prices,” Tory told the Toronto Star on Wednesday. Ontario Real Estate Association (OREA) CEO Tim Hudak is calling for an overhaul of the 2002 provincial rules and code of ethics that govern real estate practices. Foreign buyers “are getting rich off our backs and the hard-working, tax-paying Canadians that live here can’t afford real estate,” said Fleming. The Toronto Real Estate Board referred questions about unethical or improper business practices to RECO.

Source: thestar April 19, 2017 23:48 UTC