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iPro Realty Scandal Updates
Here's the latest scoop on the madness happening at iPro Realty. Additionally, the next generation is struggling to find jobs, while Ottawa is now building homes.
Today, we’re covering
🫣 iPro Realty Scandal Updates
🧑🏼🎓 Youth Joblessness Threatens Housing
👷🏻 Mark Carney Launches $13B Housing Fund.
📉Toronto Faces 30-Year Low in New Builds.
🤔 WTF of The Week
Read Time: 4 minutes
🫣 iPro Realty Scandal Updates
Founders Rui Alves & Fedele Colucci allegedly transferred trust funds into accounts that paid themselves, their spouses, investors, and affiliated companies.
RECO claims the duo ran multiple accounting systems, falsified records, and delayed inspections until the last minute.
Two company names, two sets of trust accounts: One iPro entity was registered with RECO, the other was not, yet both held trust funds.
75 boxes of records and 10 terabytes of digital data are under analysis to trace missing funds.
Court affidavits reveal:
$17M+ was moved from trust accounts, mixing consumer deposits and agent commissions with general funds.
$10.5M remains unaccounted for.
Funds were used to repay loans, pay owners, write cheques to “Cash,” and cover personal/construction expenses.
44 separate loan agreements and 131 investor agreements with Hippo Holdings were uncovered.
RECO is pursuing full banking records to trace the missing funds.
🧑🏼🎓 Youth Joblessness Threatens Housing
As of August 2025, Canada's youth unemployment rate sits at 14.5%.
Without stable incomes, young adults delay leaving home, forming families, or buying houses. Rental demand shifts toward shared living.
Toronto and Vancouver face sharper effects due to their high concentration of international students, which intensifies both job competition and housing demand pressures.
First-time buyers, the crucial link for housing turnover, are disappearing. Without them, move-up markets weaken and recovery slows.
Why This Matters: Youth unemployment isn’t just a stat, it’s a signal. When young people can’t find work, it delays everything: moving out, paying rent, starting families, or entering the housing market. A generation stuck in limbo puts long-term pressure on Canada’s economy, housing demand, and social systems.
👷🏻 Mark Carney Launches $13B Housing Fund
Prime Minister Mark Carney has launched Build Canada Homes (BCH), a new federal agency designed to boost housing supply rapidly.
BCH is backed by $13B in funding and 463 hectares of federal land.
Unlike previous programs, Ottawa will act as a developer acquiring land, contracting builders, managing projects, and selling units.
First wave: ~4,000 homes breaking ground in 2026 across Ottawa, Edmonton, Winnipeg, Toronto, Longueuil, and Dartmouth.
Their construction strategy relies heavily on prefab and modular builds to cut costs, timelines, and emissions. .(source)
Why This Matters: This is the largest federal intervention in housing since the post-war boom, signaling Ottawa’s intent to move beyond incentives into direct development.
📊 POLL: Should the federal government act as a housing developer? |
