DEVELOPING Person on fire outside Trump's hush money trial rushed away on a stretcher
A person who was on fire in a park outside the New York courthouse where Donald Trump’s hush money trial is taking place has been rushed away on a stretcher.
Housing prices in Canada are expected to increase steadily in 2022, with inter-provincial migration continuing in many regions and a short supply of homes in those areas pushing up costs, according to Re/Max's housing market outlook report published Wednesday.
Sale prices are projected to go up by 9.2 per cent on average across the country next year, the real-estate company estimates. It would follow an already “sensational” year in terms of sales and price appreciation, Re/Max's president says.
"In the history of our nation, I don't know of, certainly not in my tenure, of more than 95% of markets being in seller's market territory," he told CTVNews.ca in a phone interview. "So it can't be overstated enough how strong the market was in Canada in 2021."
That momentum will likely carry forward into next year, Alexander says, with 36 of 38 markets across the country poised to maintain their seller's status.
Another trend he suspects will continue is inter-provincial migration as investors look for more affordable places to set up shop. The ability to work from home during the COVID-19 pandemic has given some homebuyers the flexibility to shop in different places.
"Remote work has really allowed people to set up in ways that weren't possible before the pandemic," Alexander said. "We''e hearing of some people that have moved to a different province but still hold their job in the province they left."
The report indicates short supply in areas with high demand due to migration is a key factor in driving up the cost of real estate.
Despite prices seemingly set to continue going up, making home ownership more expensive for Canadians, the report says about half of residents across the country still view buying a house as a good investment option for next year.
"I don't think people are nervous at all," Alexander said of the real-estate market. "We surveyed a lot of consumers and more than half are confident that the market is going to remain strong for next year."
Apart from outlining industry trends, the report breaks things down region by region in Canada, offering predictions and projections for different areas in the coming year.
In Western Canada, Calgary and Edmonton became seller's markets this year, a trend that's expected to continue into 2022. The report attributes this to heightened demand coming from homebuyers migrating from Ontario and British Columbia while supply remained low.
Cities such as Victoria, Nanaimo and Kelowna in B.C., along with Regina in Saskatchewan, also apparently saw a boost due to incoming buyers searching for more affordability.
Winnipeg is projected to remain a seller's market in 2022 and is expected to hold steady provided interest rates and inventory remain low.
Brokers in Ontario anticipate steady market activity and price growth in 2022, at least on average. Several regions experienced wild price appreciations across all property types this year, including Brampton (25 per cent), Durham (29 per cent) and London (30 per cent), while Toronto only saw a seven-per-cent increase.
All regions in Atlantic Canada are currently seller's markets, according to the report, and could see sale prices rise between five and 20 per cent next year.
The spike in demand seems to be driven by out-of-province buyers from Ontario moving to cities like Moncton, Fredericton, Halifax, Charlottetown and St. John's in search of more affordability.
Although places like Charlottetown may cool off, sales prices in Halifax and Moncton are projected to increase by 16 and 20 per cent, respectively.
An earlier version of this story indicated Winnipeg was a buyer's market and would continue to be one next year. This was due to an error in Re/Max's report and has been corrected above.
A person who was on fire in a park outside the New York courthouse where Donald Trump’s hush money trial is taking place has been rushed away on a stretcher.
Soulful gospel artist Mandisa, a Grammy-winning singer who got her start as a contestant on 'American Idol' in 2006, has died, according to a statement on her verified social media. She was 47.
The Senate legal affairs committee has rejected a motion calling for members to take a $50,000 field trip to the African Lion Safari in southern Ontario to see the zoo's elephant exhibit.
The Canadian Food Inspection Agency is encouraging veterinarians to keep an eye out for signs of avian influenza in dairy cattle following recent discoveries of cases of the disease in U.S. cow herds.
Scottish comedian Samantha Hannah was working on a comedy show about finding a husband when Toby Hunter came into her life. What happened next surprised them both.
Group of Seven foreign ministers warned of new sanctions against Iran on Friday for its drone and missile attack on Israel, and urged both sides to avoid an escalation of the conflict.
A Manitoba woman thought she found a miracle natural supplement, but said a hidden ingredient wreaked havoc on her health.
Hospital chaplain J.S. Park opens up about death, grief and hearing thousands of last words, and shares his advice for the living.
A family trip took a frightening turn for Christopher Won when he was diagnosed with flesh-eating disease while in Hong Kong and now, after weeks of treatment overseas, the Vancouver firefighter is back home recovering.
At 6'8" and 350 pounds, there is nothing typical about UBC offensive lineman Giovanni Manu, who was born in Tonga and went to high school in Pitt Meadows.
Kevin the cat has been reunited with his family after enduring a harrowing three-day ordeal while lost at Toronto Pearson International Airport earlier this week.
Molly Knight, a grade four student in Nova Scotia, noticed her school library did not have many books on female athletes, so she started her own book drive in hopes of changing that.
Almost 7,000 bars of pure gold were stolen from Pearson International Airport exactly one year ago during an elaborate heist, but so far only a tiny fraction of that stolen loot has been found.
When Les Robertson was walking home from the gym in North Vancouver's Lower Lonsdale neighbourhood three weeks ago, he did a double take. Standing near a burrow it had dug in a vacant lot near East 1st Street and St. Georges Avenue was a yellow-bellied marmot.
A moulting seal who was relocated after drawing daily crowds of onlookers in Greater Victoria has made a surprise return, after what officials described as an 'astonishing' six-day journey.
Just steps from Parliament Hill is a barber shop that for the last 100 years has catered to everyone from prime ministers to tourists.
A high score on a Foo Fighters pinball machine has Edmonton player Dave Formenti on a high.
A compound used to treat sour gas that's been linked to fertility issues in cattle has been found throughout groundwater in the Prairies, according to a new study.