Brampton Scammer Busted.

🫣 Brampton Man Charged In Deposits Scam

• The scam involved Kunwar allegedly taking deposits from at least nine GTA homebuyers for pre-construction houses.

• Two lawsuits aim to recover a combined total approaching $270,000 in deposits.

• With Kunwar listed as president, Empire Finance supposedly provided mortgage financing but is not a registered corporation or licensed lender in Ontario.  

• The deals were marketed under a name (Paradise Development Homes Limited) similar to a licensed developer (Paradise Developments Inc.), creating confusion.

Why This Matters: It highlights the critical importance of due diligence when investing in pre-construction projects, including verifying the seller's legitimacy and authority to sell. This serves as a reminder that deals appearing "too good to be true" with below-market prices or unusually favorable financing terms warrant extreme caution.

📉 RBC says Home Prices Will Keep Falling

• RBC recent economic report states there’s no near-term rebound for Canadian real estate as trade war uncertainty is freezing the market

• April 2025 sales were at 30-year lows in Toronto, excluding the 2020 lockdown

• Toronto home prices have dropped $49,000 since December, down 4.4%. Vancouver prices have slipped 1.8% year-over-year.

• Montreal is holding steady for now, but slowing demand threatens future price gains

• Calgary posted its first annual price drop since 2020, as sales hit a 5-year low