Liberal platform on housing cites flipping as a source of rising housing prices.
The Liberal candidate in the riding of Vancouver Granville has flipped more than 20 properties after less than a year of ownership since 2005, which has critics pointing to contradictions between his actions and the Liberal platform on housing.
According to British Columbia’s assessment records, Taleeb Noormohamed has sold 41 properties since 2005 — 21 of them after less than a year of ownership — making $4.9 million in the process.
The news was first reported by NEWS 1130 in Vancouver.
The Liberal Party platform on housing, which was released last week, proposes an “anti-flipping tax” on residential properties that will require that such properties be held for at least a year. That means 21 of the properties Noormohamed sold would have been subject to the proposed tax.