iPro Realty Scandal, TFW Program, Job Losses, and more!

Mark Mitchell on YouTube:
https://www.youtube.com/@MortgageBrokerLondonOntario
iPro Scandal Videos:
https://youtu.be/6NnX71OOAA8
https://youtu.be/sup0SLlS2gc
https://youtu.be/Z8vpchEeI4w

The Conservatives are calling for an end to the TFW program, Ontario is considering taking over RECO, the real estate regulator, Canada shed 65.5k jobs in August, and to top it all off, Toronto’s condo market is in “free fall”, according to Canada’s housing minister Gregor Robertson. Let’s talk about it!

MillennialMoron Updates are a brief Canadian news digest with commentary on Canadian housing, real estate, finance, and economics stories.

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Sources:
iPro Realty Scandal:
RECO announces iPro co-founders will not be charged
https://www.thestar.com/business/ipro-co-founders-took-millions-from-trust-but-will-not-be-charged-regulator-confirms/article_24057071-778e-4c1e-9fa1-061b3ac109fb.html
iPro transacted over $700M after RECO learned of missing funds
https://www.thestar.com/real-estate/ipro-realty-scandal-as-reco-registrar-ousted-critics-call-for-bigger-change-at-watchdog/article_187db43d-2ced-4935-aa38-bc63a4b16443.html
Police launch investigation into iPro Realty scandal
https://www.thestar.com/real-estate/police-launch-investigation-into-ipro-realty-scandal/article_ebd76d34-5dec-44e2-a934-edcd85babc92.html
Ford government threatens to take control of RECO:
https://www.ctvnews.ca/toronto/article/ford-government-threatens-to-take-control-of-real-estate-watchdog-as-realtors-call-for-answers/
BC strips real estate industry of self-regulation
https://www.westerninvestor.com/british-columbia/bc-real-estate-industry-stripped-of-self-regulation-in-wake-of-damning-report-3829300
Ontario Ombudsman has no enforcement power
https://www.opsba.org/wp-content/uploads/2021/02/BackgroundPaper_Ombudsman_PublicPolicyForum.pdf
Ontario auditor general calls RECO “ineffective”, 2022
https://www.theglobeandmail.com/business/article-ontarios-real-estate-industry-regulator-is-ineffective-auditor-general/
OREA calls for change amid RECO scandal
https://www.ctvnews.ca/toronto/article/thousands-of-ontario-realtors-demand-ombudsman-oversight-of-reco-amid-ipro-realty-scandal/
Letter from OREA to Ontario government:
https://www.orea.com/~/media/Files/Downloads/2025/OREA-Letter-to-Minister-Stephen-Crawford-re-RECO

TFW Stuff:
The Tyee article on migrant workers
https://thetyee.ca/News/2013/01/07/Canada-Migrant-Workers/print.html
PressProgress on TFW program:
https://pressprogress.ca/stephen_harper_s_tough_talk_on_temporary_foreign_workers_falls_apart_in_one_graph/
Rabble article on TFW program:
https://rabble.ca/human-rights/what-moves-you-times-crisis/

TFWs in Agriculture Industry (Statcan)
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3210021801

Toronto Condos in “Free Fall”:
Robertson says Toronto condo market in “free fall”
https://www.thestar.com/real-estate/toronto-condo-market-is-in-free-fall-federal-housing-minister-says/article_66c26722-1f22-4b28-bf95-3e98f2e02159.html
Winning in the condo market with negative cash flow
https://torontorealtyboutique.com/winning-in-the-condo-market-with-negative-cash-flow/
Tom Storey Show: Canada Built Housing that Nobody Wants
https://storeyteam.ca/episode/canada-built-housing-that-nobody-wants-with-millennial-moron/

Chapters
00:00 Intro
00:29 iPro Realty Scandal
02:57 Self-Regulation in Real Estate
03:50 65.5k Jobs Lost, Labour Force Shrinks
04:33 Conservatives Call for End of TFW Program
05:59 We’ve seen this before
08:05 Toronto Condo Market in “Free Fall”
11:22 Outro