Canada Mortgage and Housing Corporation is predicting home prices and sales will fall from last year's levels by December.
But the federal housing agency says the declines won't blunt much of the market's heat.
Chief economist Bob Duggan says home ownership will be less affordable in the near-term because of higher mortgage rates and high price levels.
He also expects rental affordability will likely decline as well.
Police said this week that a group of up to 10 teen girls allegedly assaulted several people at random at downtown Toronto subway stations on Dec. 17. Investigators have not confirmed whether the group is the same one that allegedly stabbed a homeless man who later died in hospital – those teens congregated after meeting on social media.
Premier David Eby says the fund will allow non-profit groups to buy older buildings and protect renters from property speculators. Eby says in B.C. and across Canada older rental buildings are being purchased by property speculators and large corporations that redevelop the housing, evict the current tenants and either increase the rent or sell the units.
The shut down will result in a reduction of 280,000 tonnes of market kraft pulp annually. Canfor says the decision to close the pulp line at the Prince George mill came after an "extensive analysis" of its operations and the long-term supply of fibre in the area.
On January 9, 2023, shortly after noon, Surrey RCMP attended a residence in the 15600-block of 112 Avenue. Upon arrival, officers discovered three deceased adults inside the home. The IHIT says the bodies of 56-year-old Xiao Yan Zhen, 58 year-old Li Li and their 24-year-old son, Daniel Li, were in the home.
Rain and wind warnings cover much of Vancouver Island and the inner south coast as the remnants of a storm that brought flooding to California now hammers southern B.C. Environment Canada estimates total rainfall of 50 to 100 millimetres before conditions ease Friday.
The New Westminster Police Department Major Crime Unit has learned the victim was assaulted by someone who was with two other people at the time of the assault. After the assault, the group left the area in a vehicle, and investigators are hoping by sharing video of this vehicle, a suspect will be identified.