Liberal candidate who flipped 14 B.C. properties in a decade declines to reveal profit, won't commit to ending practice if elected
Taleeb Noormohamed, the Liberal candidate for Vancouver Granville campaigning on promises that include making housing more affordable, on Thursday declined to share how much he or his businesses have profited from buying or selling at least 30 residential properties in Metro Vancouver in the last decade.
Noormohamed, who CTV News Vancouver has independently verified sold 14 of those properties within a year of purchasing them, also declined to address criticism that his practices were either hypocritical – according to his Conservative opponent – or directly contributing to the affordability crisis, according to his NDP opponent.
Residential properties bought and sold within 12 months would be subject to the Liberal Party’s proposed anti-flipping tax, which leader Justin Trudeau says is meant to curb speculation.
“Help me understand how you can champion housing affordability and – at the same time – your leader is signalling you are part of the problem,” CTV News asked Noormohamed Thursday.
He answered: “Our plan, which is ambitious, talks about three critical components.”
Noormohamed then went on to talk about renter protection, supply, and what he called “unlocking housing ownership.”
“Do you see yourself as a property flipper or speculator?” CTV News asked.
Noormohamed responded: “I see myself as someone who is absolutely committed to making sure we increase housing affordability, and I’m in favour of all the measures that are required to do that, that we’ve put forward.”
Some of the properties in question were rentals, Noormohamed said, while others were improved through renovations, then sold.
All transactions were reported "appropriately," he said.
When CTV News asked how many of the 30 he’s lived in over the past decade, Noormohamed answered: three.
Of the five properties he currently owns in Vancouver and West Vancouver, all are rentals except for his current residence.
Of the 25 he’s sold, records show the difference between the purchase and sale prices total over $4.2 million, not accounting for taxes, improvements to the properties, and other expenses.
When CTV News asked Noormohamed how much he or his businesses profited on those sales, he stumbled twice. The third time the question was posed, he answered:
“While I can’t give you an exact number, I can tell you it is by no means the number that has been put forward. But what I can also tell you is that I’m absolutely committed to any and all measures that have been put forward that would apply.”
Noormohamed said few voters over the last week have asked him about his property purchase history, and said he told those who did that he had an unwavering commitment to improving affordability if elected.
He also highlighted on Thursday an announcement by the Liberals that would see $25 million invested in a revitalized Jewish Community Centre for Vancouver, which he said would create up to 600 mixed-use affordable housing units.
When CTV News asked Noormohamed what he’d learned from the criticism he’s faced from both the right and left, he said: “I’ve learned that you’ve got to focus on making sure you’re talking to the voters, that you spend your time hearing what’s important to them, and tuning out the noise.”
As far as whether the candidate who came in second in Vancouver Granville in 2019 plans to change his buying and selling practices if he wins this time?
“What I’m going to be doing is spending my time on this and not anything else,” Noormohamed answered.
“So change, no change? Keep doing what you’ve been doing?” CTV News asked.
Noormohamed didn’t clarify.
“Focusing on the folks here and making sure I’m representing their interests,” he said.
CTVNews.ca Top Stories
NDP calls out Conservatives for effort to squash pharmacare legislation
The federal New Democrats are calling out Conservative Leader Pierre Poilievre and his party for trying to block the bill that could pave the way for millions of Canadians to access birth control and diabetes coverage.
Stamp prices rise for the third time in five years amid financial woes for Canada Post
Canada Post is increasing stamp prices for the third time since 2019, a move the Crown corporation says is a "reality" of its sales-based revenue structure.
Winnipeg man admits to killing four women, argues he's not criminally responsible
Defence lawyers of Jeremy Skibicki have admitted in court the accused killed four Indigenous women, but argues he is not criminally responsible for the deaths by way of mental disorder – this latest development has triggered a judge-alone trial rather than a jury trial.
An El Nino-less summer is coming. Here's what that could mean for Canada
As Canadians brace themselves for summer temperatures, forecasters say a weakening El Nino cycle doesn’t mean relief from the heat.
Mediterranean staple may lower your risk of death from dementia, study finds
A daily spoonful of olive oil could lower your risk of dying from dementia, according to a new study by Harvard scientists.
A subset of Alzheimer's cases may be caused by two copies of a single gene, new research shows
For the first time, researchers have identified a genetic form of late-in-life Alzheimer’s disease — in people who inherit two copies of a worrisome gene.
Ontario MPP asked again to leave Ontario legislature over keffiyeh, Speaker loosens ban
An Ontario MPP was asked again to leave the Ontario legislature on Monday for wearing a keffiyeh, a garment that was banned by the Speaker last month due to its political symbolism.
WATCH Avian flu: Risk to humans grows as outbreaks spread, warns expert
H5N1 or avian flu is decimating wildlife around the world and is now spreading among cattle in the United States, sparking concerns about 'pandemic potential' for humans. Now a health expert is urging Canada to scale up surveillance north of the border.
Trudeau Liberals to unveil new bill Monday aimed at countering foreign interference
Democratic Institutions Minister Dominic LeBlanc will be tabling legislation on Monday aimed at countering foreign interference in Canada. Federal officials have scheduled a technical briefing on the incoming bill for Monday afternoon.