House flipping is back despite a new federal tax targeting speculators, data show. Bank of Canada figures indicated nationwide the incidence of flipping had reached pre-pandemic levels.

“House flippers are individuals who buy homes and resell them a short time later,” said a Bank report Indicators Of Financial Vulnerabilities. “Although a rise in house flipping activity may improve the quality of the housing stock if renovations are involved, it may also signal that a local market is becoming increasingly influenced by speculative behaviour.”

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