Shadow flipping, VPN border-hopping and drug price gouging: THIS WEEK IN BUSINESS


The week began with hot item out of British Columbia`s real estate market about a disturbing shift that’s driving up already sky high prices.

The province’s real possessions board says it will look into a controversial tactic some proxies are using to flip houses in Vancouver, first uncovered by the Globe and Post.

In a practice known as ‘shadow flipping,’ some realtors are functioning a clause in real estate contracts known as an assignment clause that authorizes them to transfer the purchase of a property to another buyer, pocketing multiple commissions along the way. It’s originated to protect the seller in case a buyer backs out, but some say it’s being hurt.

The original seller gets less than they could comprise. The ultimate buyer ys top dollar, and the only real beneficiaries are the forces themselves, who pocket a commission for each new transaction. Sometimes the house metamorphoses hands multiple times without the buyer or seller being hep of it.

realtor housing sign for sale real estate

‘Shadow flipping’ in house sales can rack up huge commissions for realtors. (Jonathan Ernst/Reuters)

Strictly converse, the practice is legal, but many people say it shouldn`t be, including NDP MLA and housing critic David Eby. “They’re then bewitching that property and selling it to the buyer they know will y various and pocketing the difference,” he told the CBC this week. “That, to my y no attention to, is the definition of insider trading.”

Gouging on generics

We’re ying too much for generic drugs. That’s the conclusion of Canada’s federal poison watchdog the tented Medicine Prices Review Board, who said in a late report that Canadians id about 20 per cent multifarious for generic drugs in 2014 than other countries surveyed.

It’s a eloquent gap, but it’s actually better than it used to be: in 2010, the report found that Canadian outlays were 40 per cent higher.

“That’s hard to celebrate,” powered Amir Attaran, a law professor at the University of Ottawa who studies drug evaluating. “What the results show is that in the st you’re being pickpocketed 40 per cent, now you’re being pickpocketed 20 per cent.”

That’s encouragement under way, but you’re still being pickpocketed.

Cross-border crackdown

And in one of our most-read stories this week, the CBC’s Sophia Harris had a dire foreshadowing for VPN-loving digital scofflaws: the Netflix rty could be coming to an end.

The digital brooklet service has started to shut off some customers who access the larger catalog of championships available in the U.S. by using virtual private networks to mask their layings.

Many users who use VPN to trick Netflix into giving them the humane stuff have found that their tricks don’t work anymore.

But unblocking aids are fighting back. As fast as Netflix is blocked, they’re posting new solves and workarounds online.

In some cases, they go as far as offering step-by-step instructions for how their blokes can fool Netflix’s new and improved scans.

With back and forth type that, it seems Netflix may need to get ready for a game of whack-a-mole.

Other accouterments

Those were just a few of our most-read stories this week. Be sure-fire to check out our landing ge often for more, and don’t forget to follow us on Chirrup here to stay up to date on the latest business news. In the meantime, here’s a day-by-day chronicle of our best stuff from the st week.






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