An economist says the Canadian housing market could be in for a rebound this year after a cautious 2023.
T-D Bank economist Rishi Sondhi says that optimism depends largely on the forecasts of the Bank of Canada cutting interest rates, which may begin as early as the second quarter.
Home prices softened in several areas late last year, including in the Fraser Valley.
Vancouver Realtor Tim Hill says he is optimistic of consumer sentiments slowly shifting as prices improve in recent months.
The House of Commons has wrapped up its work for 2023 after an intense fall sitting, with MPs returning to their ridings for a six-week holiday break. A gun-control bill that enshrines a handgun freeze and a bill that lifts GST charges off rental developments and amends the country's competition law both crossed the finish line in Parliament this week.
The announcement came on Friday after the Canada Mortgage and Housing Corp. said housing starts in Canada fell 22 per cent in November, with starts down 39 per cent in Vancouver. Fraser said of the Vancouver deal that the cash from the government's Housing Accelerator Fund would cut barriers to building homes and "incentivize changes" at the municipal level
An RCMP officer has been charged with assault stemming from an incident in the Coquitlam, British Columbia, detachment a year ago. The BC Prosecution Service says in a release that Sgt. Antonio Guerrero Jr. is facing one count of assault after the charge was approved on Thursday.
Final regulations for the Online News Act show the amount of funding private broadcasters will get through the government's $100-million deal with Google will be limited, with an even lower cap for the CBC. The regulations released on Friday say CBC/Radio-Canada will get no more than a $7-million share of the annual fund, while another $30 million at most will be reserved for other broadcasters.
Finance Minister Chrystia Freeland started off her meeting with her provincial and territorial counterparts by saying housing is the central priority for many Canadians today. She says today's discussions in Toronto will include looking how to work together to build more homes faster, and crack down on short term rentals.
RCMP in Surrey say their investigation into a deadly overnight crash has found the victim was not a pedestrian. The Mounties say one person was killed and another taken to hospital with serious injuries after the crash, which led to ongoing road closures in the area.