Take action to stop money laundering that's driving the housing crisis

14,278 actions
goal: 19,000

Criminals, terrorist financiers, and secret companies are laundering BILLIONS of dollars through Toronto’s real estate market. [1] 

And the worst part? This dirty money is driving housing prices through the roof, making it almost impossible for everyday people to afford rent, or buy a home.

During his 2019 budget announcement, Finance Minister Bill Morneau announced new measures to combat money laundering in BC. [2]  But criminals are laundering their money through other real estate markets across Canada. In Toronto, just under $10 billion in housing was bought with cash by shell companies to anonymously launder money. [3] This can happen in any Canadian city -- and it drives up housing prices, making housing less affordable for everyday people.  

The Liberals say they want to make housing more affordable for people in Canada, and in an election year, they’re looking for ways to show voters that they’re listening. [4]  A massive public outcry now, just a few months out from the election, could be enough to force them to take action.

We need the government to tackle this issue head on, and implement a national policy to combat money laundering in real estate across the country. Will you sign the petition calling on Minister Morneau to stop dirty money from driving Canadian housing prices through the roof?

[1] Transparency Canada, http://www.transparencycanada.ca/wp-content/uploads/2019/03/BOT-GTA-Report-WEB-copy.pdf
[2]  The Toronto Star, https://www.thestar.com/news/canada/2019/03/21/dirty-money-is-driving-up-toronto-real-estate-prices-report-says.html
[3] https://endsnowwashing.ca/,

[4] https://www.liberal.ca/realchange/affordable-housing/

Dear Finance Minister Bill Morneau

It's time to fix the loopholes in our laws that let criminals, secret companies, and tax dodgers launder dirty money through Canadian real estate. Implement a "beneficial ownership" rule now.

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