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In recent developments, alarming reports reveal a surge in mortgage fraud within the Greater Toronto Area (GTA). According to Ratesdot.ca, a staggering 47% of Canadians perceive mortgage fraud as a prevalent issue. The prevalence of falsified income documentation raises concerns about its influence on the GTA's real estate market, particularly in fueling the existing housing bubble. Having previously addressed instances of mortgage fraud, it's disheartening to note the escalating frequency of such incidents within the real estate sector.

The recent HSBC leaked case, which has garnered significant attention over the past few weeks, underscores the gravity of the situation. I believe this case has exerted substantial pressure on GTA home prices, particularly amid the ongoing pandemic. Let's explore together the fake Chinese income trend and discover how that is impacting housing prices. 

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