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.
A Statistics Canada study into what it calls the "bank of mom and dad" shows home ownership among young high earners in British Columbia increases more than anywhere else in Canada if their parents are homeowners, too. The study also finds that nationally, people born in the 1990s are twice as likely to own a home if their parents are homeowners, compared to those whose parents are not.
Police in Port Moody are investigating after arresting a 15-year-old who allegedly brandished a knife while chasing another teen through a crowd of students at a busy bus stop. Police say it happened yesterday afternoon (in the 13-hundred block of David Avenue) when a fight between two young people escalated into the armed chase.
British Columbia Premier David Eby says it's "hard to understand" why other politicians still believe in relying on the private sector to deliver affordable housing and instead it's time for governments to step up. Eby says there are proposals at the federal level to sell public land and buildings to help solve the crisis, but B.C. is doing the opposite by taking inventory of provincially and municipally owned land in order to build more homes.
Police are warning pedestrians about an adult cougar roaming near downtown Victoria, telling them to avoid the area this morning. Victoria Police say on social media the cougar was spotted near Jutland Road and Dunedin Street, near the Victoria waterfront and north of the downtown core.
The Crown has stayed charges against two teenage brothers in a Calgary shooting that left one man dead and two others injured last week. A 14-year-old boy, who cannot be named under the Youth Criminal Justice Act, had been charged with one count of first-degree murder and two counts of attempted murder.
Finance Minister Chrystia Freeland is set to present the traditional fall update on Canada's finances — a fiscal blueprint that's expected to include measures aimed at getting more homes built. A senior government official, whom The Canadian Press is not naming because they were not authorized to share details publicly, confirmed Monday that several housing policies would be part of Tuesday's fiscal update.