Vancouver House For Sale In Bitcoin A Sign Of Suspicious Activity

  • Here’s something a little different: A home in the Vancouver suburb of Coquitlam is on sale on Craigslist.
  • The house is described as “new” in the ad and looks unlived-in in the pictures provided.The ad appears on the Vancouver and Hong Kong real estate pages of Craigslist.
  • Vancouver’s housing market has seen considerable cooling over the past year.
  • Home sales have fallen for much of the past year; nearly half the money flowing through the market has vanished; and price growth has stalled.But if this ad is an indicator of anything, it’s that foreign buyers are still playing in Vancouver’s housing market — they’re just doing it more on the sly now.China has been cracking down on cash outflows from its economy.
  • Some 98 per cent of bitcoin transactions had taken place in China recently, the Financial Times reported.So… a Vancouver house with an unidentified seller, seemingly unoccupied, posted for sale in Hong Kong and asking for payment in cryptocurrency … you put the pieces together.And if you’re planning to buy a house in Vancouver, you may want to stock up on some bitcoin first.Coming Soon: The Home StretchOur weekly newsletter delivers the news and analysis you need on Canada’s housing market.

If you’re planning to buy a house in Vancouver, you may want to stock up on some bitcoin.
Continue reading “Vancouver House For Sale In Bitcoin A Sign Of Suspicious Activity”

Vancouver House For Sale In Bitcoin A Sign Of Suspicious Activity

#Vancouver house can be yours for 2,099 bitcoin

  • Here’s something a little different: A home in the Vancouver suburb of Coquitlam is on sale on Craigslist.
  • The house is described as “new” in the ad and looks unlived-in in the pictures provided.The ad appears on the Vancouver and Hong Kong real estate pages of Craigslist.
  • Vancouver’s housing market has seen considerable cooling over the past year.
  • Home sales have fallen for much of the past year; nearly half the money flowing through the market has vanished; and price growth has stalled.But if this ad is an indicator of anything, it’s that foreign buyers are still playing in Vancouver’s housing market — they’re just doing it more on the sly now.China has been cracking down on cash outflows from its economy.
  • Some 98 per cent of bitcoin transactions had taken place in China recently, the Financial Times reported.So… a Vancouver house with an unidentified seller, seemingly unoccupied, posted for sale in Hong Kong and asking for payment in cryptocurrency … you put the pieces together.And if you’re planning to buy a house in Vancouver, you may want to stock up on some bitcoin first.Coming Soon: The Home StretchOur weekly newsletter delivers the news and analysis you need on Canada’s housing market.

If you’re planning to buy a house in Vancouver, you may want to stock up on some bitcoin.
Continue reading “Vancouver House For Sale In Bitcoin A Sign Of Suspicious Activity”

Iceland to end capital controls from 2008 financial crisis

  • Image caption Iceland’s economy has benefited from a tourism boomIceland will lift all capital controls on its citizens, businesses and pension funds from Tuesday.Capital controls, such as those to restrict money flowing in and out of the country, were imposed in 2008 after the country’s biggest banks collapsed.The government thinks the economy has recovered sufficiently to end controls.Controls were imposed after the collapse of the country’s three biggest banks – Glitnir, Landsbanki and Kaupthing.At the same time Iceland’s national currency, the krona, fell in value.The removal of the capital controls – which helped stabilise the currency and economy during the country’s financial crash – represents the completion of Iceland’s return to international financial markets.Travel hotspotSince the nation’s financial collapse, the economy has seen a robust recovery, helped by a boom in tourism.Last year around 1.8 million people visited the the nation, a 40% rise on 2015.
  • The UK accounted for 316,395 of last year’s visitors, behind only US citizens in visitor numbers.That tourism boom, coupled with strong investment by business and in the housing market, helped the economy grow 7.2% in 2016.
  • Image caption The decision has been made by the government and Central Bank of Iceland”Iceland’s careful, measured approach to lift capital controls was developed and approved with domestic and international support,” said Benedikt Johannesson, minister of finance and economic affairs.
  • “Capital controls were implemented in 2008, with the support of the International Monetary Fund (IMF), to shield the economy from severe depreciation.
  • For the past year, the government and Central Bank of Iceland have been lifting controls through what they say has been an “incremental, measured process that focused on protecting the currency, addressing a balance of payments problem and tempering shocks to the Icelandic economy”.

Capital controls, such as those to restrict money flowing in and out of the country, were imposed in 2008 after the country’s biggest banks collapsed.
Continue reading “Iceland to end capital controls from 2008 financial crisis”