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.
Jagjit Singh's smile fades when he's asked about the cost of living in Canada since moving from India last year. Singh and his classmates say the growing financial stresses on international students cast a shadow over the new school year's possibilities and opportunities.
People entering the country are no longer subject to random mandatory tests for the virus, and those who are unvaccinated will not need to isolate upon arrival. Anyone who entered Canada in the last two weeks and was subject to quarantine or testing is off the hook as of today.
Hot and dry conditions persist, something the superintendent of the BC Wildfire Service's predictive services said is "quite problematic," and creates conditions for potential ignitions across B.C. Temperatures are about five to eight degrees above normal for this time of year, and there's been little to no rain in several parts of B.C. in weeks.
Similar to last year, B.C. has advised public sector employers, including those in public schools, that the day should be observed as a statutory holiday by those who are normally entitled to federal and provincial stats.
The strategy will include co-operation on climate change, she said in an interview with the Atlantic Council think tank in Washington, D.C. Joly also revealed she will visit Peru next week for the Organization of American States summit.
The federal statutory holiday, also known as Orange Shirt Day, was established last year to remember children who died while being forced to attend residential schools, as well as those who survived, and the families and communities still affected by lasting trauma.