Canada's real estate market still 'really overvalued,' warns economist
An economic expert believes that the possibility of a more severe crisis in Canada's housing market remains a possibility because real estate remains "really overvalued."
Moshe Lander, an economist from Montreal's Concordia University, told CTV News Channel on Tuesday that years of record-low interest rates enticed many Canadian homeowners into over-indebting themselves and buying properties "they couldn't afford."
The warning came shortly after the CEO of Scotiabank warned that tens of thousands of mortgage holders could be at risk of defaulting and Canada’s banking regulator considers new constraints on mortgage lending.
"If some people are taken down, that's really unfortunate," Lander said. "But it's really necessary to restore some sort of semblance to the market."
Watch the full interview by clicking the video at the top of this article.
Shopping Trends
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
CTVNews.ca Top Stories
Mark Carney tells Jon Stewart the Liberal party has 'a chance' after Trudeau's resignation
Days ahead of his expected Liberal leadership campaign launch, former Bank of Canada and Bank of England governor Mark Carney says Prime Minister Justin Trudeau's decision to step down boosts the party's chance in the next general election.
'We can live our lives again without worrying': Ontario man relieved after insurance company agrees to pay $620,000 hospital bill
An Ontario man who received a $620,000 medical bill from a Florida hospital is now relieved that his insurance company has reversed its decision and decided to pay the bill.
Curler Briane Harris not at fault for anti-doping rule violation, provisional ban lifted
Canadian curler Briane Harris is eligible to return to the sport after an absence of nearly one year.
Harm reduction advocates hope high court will 'clarify' Canada's 'Good Samaritan' law
Canada's Good Samaritan law, which is meant to shield people from arrest after they seek help for someone in medical distress, is under spotlight in the Supreme Court of Canada.
'It's not going to be good': Ford says Trump's tariffs could cost Ontario 500,000 jobs
Premier Doug Ford says U.S. president-elect Donald Trump’s promised tariffs on Canadian goods could result in the loss of 500,000 jobs in Ontario, creating the need for billions of dollars in stimulus spending.
Why is Spain considering a 100 per cent tax on homes bought by non-EU residents?
Spain is planning a raft of measures to address its brewing housing crisis, including an up to 100% tax on properties bought by non-European Union residents.
Calgary homeowner faces challenge after property assessment jumps 60%
Stan Valant, a long-time resident of Calgary's Silver Springs, is baffled by the city's recent assessment of his bi-level home.
Hamas has accepted a draft agreement for a Gaza ceasefire and the release of hostages, officials say
Hamas has accepted a draft agreement for a ceasefire in the Gaza Strip and the release of dozens of hostages, two officials involved in the talks said Tuesday. Mediator Qatar said Israel and the Palestinian militant group were at the "closest point" yet to sealing a deal that would bring them a step closer to ending the war.
Kate Middleton, Princess of Wales, visits hospital where she had cancer treatment
Kate, Princess of Wales, visited a London hospital on Tuesday where she underwent cancer treatment last year to personally thank medics there for their care and support, her office said.
Vancouver
-
Ecotour grizzlies less likely to encounter conflict with humans, B.C. study suggests
Grizzly bears that visited ecotourism areas along a river on the province's central coast were less likely than others to encounter conflict with people in communities downstream, a new study by British Columbia-based researchers has found.
-
'No stone will be left unturned’ B.C. assembles team to fight Trump tariffs
The provincial government is assembling a group of business and labour leaders to strategize the best way to deal with looming tariffs threats from president-elect Donald Trump.
-
A B.C. man won a $2M jackpot. Members of his workplace lotto pool took him to court
A dispute over a $2 million jackpot among members of a workplace lotto pool has been settled by B.C.'s Supreme Court.
Toronto
-
'It's not going to be good': Ford says Trump's tariffs could cost Ontario 500,000 jobs
Premier Doug Ford says U.S. president-elect Donald Trump’s promised tariffs on Canadian goods could result in the loss of 500,000 jobs in Ontario, creating the need for billions of dollars in stimulus spending.
-
'We can live our lives again without worrying': Ontario man relieved after insurance company agrees to pay $620,000 hospital bill
An Ontario man who received a $620,000 medical bill from a Florida hospital is now relieved that his insurance company has reversed its decision and decided to pay the bill.
-
Man allegedly posed as investment broker, contractor to defraud victims: Toronto police
Toronto police say an arrest has been made after a man allegedly posed as both an investment broker and contractor to defraud multiple victims.
Calgary
-
Public hearing for Grassy Mountain coal mine resumes
A public hearing for the controversial Grassy Mountain coal mining project will resume in Calgary on Tuesday.
-
Calgary councillor won't seek re-election in October
Evan Spencer, councillor for Calgary's Ward 12, will not be running for re-election later this year.
-
WEATHER
WEATHER Temperatures to remain above freezing for most of the next 3 days
Strong westerly flow across Alberta will push temperatures well above seasonal for Tuesday and Wednesday, especially in the south.
Ottawa
-
16 per cent of all photo radar, red light camera tickets in Ottawa issued on a 1 km stretch of road
King Edward Avenue is the hot spot for photo radar and red light camera tickets, with 16 per cent of all camera-related traffic tickets in Ottawa issued to drivers on a one-kilometre stretch of the road in Lowertown.
-
Lack of chargers a top concern for EV owners, but most would still buy another: CAA
A new survey of thousands of electric vehicle (EV) owners suggests that a lack of accessible charging stations is their main concern, but most would still buy another when the time comes.
-
Highway 17 closed between Pembroke and Cobden following Tuesday morning fatal crash
Ontario Provincial Police say emergency crews responded to a collision on the highway between County Road 24/White Water Road in Pembroke and Main Street in Cobden before 4 a.m.
Montreal
-
Raccoon with rabies identified in Quebec’s Eastern Townships
After several cases were detected in Vermont, Quebec has now identified a case of raccoon rabies near the U.S. border.
-
Major crash in St-Hubert leaves teen in critical condition
Longueuil police (SPAL) are investigating after a collision left a young man in critical in the Saint-Hubert borough on Monday night.
-
Woman stabbed in Montreal's Plateau, police investigating
Montreal police (SPVM) are investigating after a woman was stabbed in the Plateau.
Edmonton
-
Mark Carney appears on 'The Daily Show,' sources say he plans to launch leadership bid in Edmonton
A big name with ties to the city is expected to launch his bid to become the leader of the federal Liberal party, two sources tell CTV News Edmonton.
-
Josh Classen's forecast: Warm for now, turning stormy Thursday
The warm spell continues for today and Wednesday with afternoon temperatures a handful of degrees above zero.
-
Firefighters deploy widely as strong winds threaten more Los Angeles neighbourhoods
Weary and anxious from a week of massive infernos burning around Los Angeles and now facing dire new warnings, residents gathered up their pets and family photos and prepared to flee at a moment's notice as fire-fuelling winds blasted Tuesday across Southern California.
Atlantic
-
Lower Sackville man shaken after house fire claims life of six-year-old girl
A Nova Scotia man is left shaken after his neighbour's home in Lower Sackville, N.S., caught fire over the weekend and claimed the life of a child.
-
'I want answers': SPCA removes dead dogs from front porch of New Brunswick home
The New Brunswick SPCA is investigating after the bodies of four dogs were removed from the front porch of a home in Bass River, N.B., Monday morning.
-
Friend of fatally stabbed Halifax teen changes his testimony in youth court
The trial for a Halifax-area youth accused of participating in the fatal stabbing last year of a 16-year-old student heard Monday from one of the victim's close friends.
Winnipeg
-
Curler Harris not at fault for anti-doping rule violation, provisional ban lifted
Canadian curler Briane Harris is eligible to return to the sport after an absence of nearly one year.
-
Survey: Nearly half in Manitoba, Saskatchewan on the financial brink
A new MNP consumer debt report done by Ipsos said in Manitoba and Saskatchewan, nearly half, 49 per cent of people, say they are $200 or less away from not being able to pay their bills or their debt payments at the end of the month.
-
Winnipeg looking at acquiring Lemay Forest
The City of Winnipeg is looking into the possibility of acquiring Lemay Forest.
Regina
-
Saskatchewan Marshals Service interviewing Mounties for positions before launching
Saskatchewan's new provincial police force has begun interviewing Mounties as it prepares to launch this year, a move critics say highlights concerns of job poaching.
-
Former Regina mayoral candidate Nathaniel Hewton released with conditions
Nathaniel Hewton, a mayoral candidate in the 2024 Regina civic election has been released from custody with several conditions in place.
-
Keith Urban announces fall concert stops in Regina and Saskatoon
Country music star Keith Urban will be performing two shows in Saskatchewan as part of his upcoming 'High and Alive World Tour.'
Kitchener
-
Toronto man wanted in connection to shooting at Waterloo business
Jalen Belle-McCormack, 20, from Toronto, is currently wanted on a warrant in connection to a shooting at a Waterloo business on May 18, 2024.
-
WRPS investigating 'serious' 2-vehicle collision in Cambridge, charges anticipated
Police say they were called to the area of Blair Road and Langdon Drive around 9:15 p.m. Monday for reports of a collision between a white Volkswagen and an orange Dodge.
-
Mark Carney tells Jon Stewart the Liberal party has 'a chance' after Trudeau's resignation
Days ahead of his expected Liberal leadership campaign launch, former Bank of Canada and Bank of England governor Mark Carney says Prime Minister Justin Trudeau's decision to step down boosts the party's chance in the next general election.
Saskatoon
-
'Don't trust it': Saskatoon woman warns of potential scammers on Facebook Marketplace
A Saskatoon woman is warning others to use caution when doing business on buy and sell websites, after she was the target of a scammer.
-
Sask. teen who allegedly set classmate on fire scheduled to plea next month
A teen girl who allegedly set her classmate on fire is set to make a plea at Saskatoon Provincial Court next month.
-
Saskatchewan Marshals Service interviewing Mounties for positions before launching
Saskatchewan's new provincial police force has begun interviewing Mounties as it prepares to launch this year, a move critics say highlights concerns of job poaching.
Northern Ontario
-
A B.C. man won a $2M jackpot. Members of his workplace lotto pool took him to court
A dispute over a $2 million jackpot among members of a workplace lotto pool has been settled by B.C.'s Supreme Court.
-
'We can live our lives again without worrying': Ontario man relieved after insurance company agrees to pay $620,000 hospital bill
An Ontario man who received a $620,000 medical bill from a Florida hospital is now relieved that his insurance company has reversed its decision and decided to pay the bill.
-
Hanging out at Starbucks will cost you as company reverses its open-door policy
If you want to hang out or use the restroom at Starbucks, you’re going to have to buy something. Starbucks on Monday said it was reversing a policy that invited everyone into its stores.
London
-
Convicted field party killer pleads guilty to weapons charge
The 23-year-old man convicted in the bush party shooting of a teenager was back in court again on Monday, this time pleading guilty to a weapons offence.
-
Grieving mother hopes to implement Life Jacket Loaner program in Elgin County
Ryan Davies and his friends were out for an early morning fishing trip in the man-made lake when the canoe tipped over. Two people were rescued, but Davies, 26, never resurfaced.
-
Jury shown police interview with accused charged in death of her mother
The jury at the manslaughter trial of a London woman charged in connection with the death of her mother in July of 2021, viewed forensic photos of the accused and a police interview conducted just hours after the incident.
Barrie
-
Muskoka could get up to 60 cm of snow
Northern areas of central Ontario could see up to 60 centimetres of snow today.
-
School bus cancellations across central Ontario
Several school boards have cancelled school transportation in areas expected to feel the worst of the snowstorm.
-
Another historical sexual assault charge laid against Beeton, Ont. man
A Beeton man is facing another count of sexual assault following an investigation by provincial police.
Windsor
-
Vigil shines light on 26-year-old’s disappearance
Co-workers and customers gathered outside the workplace of a missing 26-year-old woman Monday evening to bring light to her disappearance.
-
Chatham to Lakeshore transmission line completed a head of schedule
The Ontario government and Hydro One announced on Monday that the construction on the Chatham to Lakeshore transmission line had been completed one year ahead of schedule.
-
Class action lawsuit nears $7.3 million settlement for Westcourt Place tenants
A class action lawsuit filed by Windsor law firm Strosberg Wingfield Sasso LLP is nearing the finish line and a $7.3 million payout for its members following a fire that has left the Wescourt Place highrise vacant for more than five years.
Vancouver Island
-
Ecotour grizzlies less likely to encounter conflict with humans, B.C. study suggests
Grizzly bears that visited ecotourism areas along a river on the province's central coast were less likely than others to encounter conflict with people in communities downstream, a new study by British Columbia-based researchers has found.
-
B.C. Conservatives want RCMP to investigate alleged voting irregularities
The B.C. Conservatives are ratcheting up claims there were "voting irregularities" in a pivotal riding – demanding an "urgent RCMP investigation" into the party's allegations.
-
Poilievre visits B.C. as poll shows Conservative support growing in the province
Federal Conservative Leader Pierre Poilievre began a weeklong tour of British Columbia on Monday, where recent polling suggests support for his party continues to grow.
Kelowna
-
West Kelowna fire chief says L.A. devastation a haunting reminder of B.C. blaze
The fire chief of a British Columbia community devastated by a fast-moving wildfire in 2023 says it's "haunting" to see similar circumstances playing out in Southern California.
-
1 hospitalized, residents displaced after Kelowna apartment fire
Firefighters knocked down a blaze on the third floor of a low-rise apartment building near downtown Kelowna Monday afternoon.
-
Lost skiers rescued off B.C. mountain
Search and rescue volunteers in B.C.’s Okanagan successfully reunited two skiers with their family Friday evening.
Lethbridge
-
'Cautiously optimistic': Home sales and starts expected to rise in Lethbridge in 2025
Those in Lethbridge's real estate sector are expecting anther busy year, with both home sales and starts expected to rise in 2025.
-
What Alberta is doing to prevent wildfires in Canmore, Bow Valley
As Alberta nears the start of another wildfire season, there are efforts underway to safeguard against wildfires in Canmore and the Bow Valley.
-
'Good neighbours': Montana residents share thoughts on Trump's '51st state' threat
As U.S. president-elect Donald Trump threatens to annex Canada, some residents in Montana are sharing their thoughts on the idea of Canada becoming the “51st state.”
Sault Ste. Marie
-
Three taken to hospital after residential fire in the Sault
A fire Monday morning in Sault Ste. Marie sent three people to hospital and caused significant smoke and fire damage.
-
Mayor of Huron Shores, Ont., resigns
Council in the Municipality of Huron Shores will meet this week to declare the office of the mayor officially vacant. The move comes after Mayor Matthew Seabrook resigned Jan. 8.
-
Impaired drivers end up in the ditch in northwestern Ont.
Ontario Provincial Police in Atikokan say that within the last week, they investigated two impaired drivers who drove into the ditch in their community.
N.L.
-
Heavy equipment used to bash into a Newfoundland bank for second time in a month
Police in eastern Newfoundland say that for the second time in less than a month thieves have used heavy equipment to smash into a bank and steal an ATM.
-
Yvonne Jones, longtime Liberal MP for Labrador, retiring from federal politics
Liberal MP Yvonne Jones speaks to reporters before a meeting of the Liberal women's caucus, on Parliament Hill in Ottawa, on Wednesday, Jan. 24, 2024. Jones announced this morning that she will not be running in the next federal election for her seat in Labrador. THE CANADIAN PRESS/Justin Tang
-
Quebec energy deal touted as new chapter for Newfoundland and Labrador heads for vote
A draft energy deal with Quebec heralded as a game-changer for indebted Newfoundland and Labrador is heading for a vote Thursday night at the legislature in St. John's, N.L.
Local Spotlight
'Thankful for the rest of my life': Woman's final goodbye with father captured on video at Winnipeg airport
One woman is expressing her deepest gratitude to the Winnipeg Richardson International Airport after the staff helped her retrieve the security footage of her final moments with her father.
Meet Franklin, the rescued tortoise who spent the last three months in a B.C. fridge
Franklin the tortoise has been in a fridge for the past 15 weeks.
'I didn't want to go cold turkey:' Environment Canada's David Phillips on why he keeps working after retirement
When Environment Canada Senior Climatologist David Phillips retired this past September, he wasn’t quite ready to call it a career.
‘People are excited’: Portion of Rideau Canal Skateway opens for the first time this year
A section of the Rideau Canal Skateway has opened for the first time this winter.
Vancouver strip club's X account suspended over cheeky marquee message
The marquee at The Penthouse strip club in downtown Vancouver is known for its edgy comments on politics and pop culture.
'One-of-a-kind' fire-breathing dragon sculpture takes over Winnipeg yard
A Winnipeg sculptor’s latest creation could also double as a house guard.
'Really unique': Ice core drilled by U of M scientist could unlock climate history
A Manitoba researcher was part of a historic research team that uncovered the oldest ice core ever retrieved.
'Loving each other, building memories:' B.C. couple facing life-threatening illnesses cherishes every day
Hayley and Bill Atkinson’s love story begins that night he abruptly left in the middle of playing a card game with friends, and didn’t return for a long time.
Long live the King: N.B. tribute artist to honour Elvis' 90th birthday with special performance
Though it has been nearly five decades since Elvis' death, his music and influence continue to inspire fans around the world, including tribute artist Thane Dunn of Moncton, N.B.
Politics
-
Mark Carney tells Jon Stewart the Liberal party has 'a chance' after Trudeau's resignation
Days ahead of his expected Liberal leadership campaign launch, former Bank of Canada and Bank of England governor Mark Carney says Prime Minister Justin Trudeau's decision to step down boosts the party's chance in the next general election.
-
Industry minister Champagne to announce Liberal leadership intentions today
Industry Minister Francois-Philippe Champagne plans to reveal his intentions for the Liberal leadership race today.
-
Liberal leadership: Freeland to announce bid within the next week
Former finance minister Chrystia Freeland will announce her intention to run for the Liberal party leadership just before the U.S. presidential inauguration, a source close to her campaign team says.
Health
-
Canada's health-care system falls behind most peer countries: Report
A new report says Canada's health-care system has fallen behind international peers in access to care, equity and wait times, outperforming only the United States.
-
'We can live our lives again without worrying': Ontario man relieved after insurance company agrees to pay $620,000 hospital bill
An Ontario man who received a $620,000 medical bill from a Florida hospital is now relieved that his insurance company has reversed its decision and decided to pay the bill.
-
234 self-reported cases of gastroenteritis at the University of Guelph
The number of self-reported cases of gastroenteritis at the University of Guelph has increased to 234, Wellington-Dufferin-Guelph Public Health confirmed on Monday.
Sci-Tech
-
Elon Musk says a third patient got a Neuralink brain implant. The work is part of a booming field
Elon Musk said a third person has received an implant from his brain-computer interface company Neuralink, one of many groups working to connect the nervous system to machines.
-
Biden signs executive order to ensure power for AI data centres
U.S. President Joe Biden signed an executive order on Tuesday to provide federal support to address massive energy needs for fast-growing advanced artificial intelligence data centres, the White House said.
-
See the full wolf moon overtake Mars in the night sky and glimpse a planetary parade
Keep an eye on the sky Monday evening to see the wolf moon, the first full moon of the year. And some sky-gazers will be able to glimpse a cosmic magic trick when the moon appears to pass in front of Mars.
Entertainment
-
Heidi Montag tops iTunes chart after losing house in Los Angeles wildfires
Reality television star Heidi Montag's 2010 album 'Superficial' has hit No. 1 on iTunes' all-genre songs and albums charts — 15 years after its release and just after Montag and husband Spencer Pratt lost their home in the Palisades Fire.
-
Grammys and Oscars to proceed amid L.A. fires, but will put the spotlight on first responders
Watching well-paid stars take the stage to collect awards while thousands of L.A. families are displaced and have lost their homes runs the risk of being tone deaf, but economically, these shows also provide income for thousands of entertainment workers.
-
Leslie Charleson, 'General Hospital's' Dr. Monica Quartermaine, dies at 79
Leslie Charleson, who played popular character Dr. Monica Quartermaine for almost 50 years on 'General Hospital,' has died, the program’s executive producer announced on Sunday.
Business
-
Polish town invites Elon Musk to buy its castle for his European headquarters
A town in Poland is encouraging Elon Musk to buy its vast 13th-century castle and turn it into his European headquarters.
-
World Economic Forum says Trump to take part virtually in Davos meeting, days after inauguration
U.S. President Donald Trump will take part virtually in the World Economic Forum's annual meeting in Davos just days after his inauguration, the forum president said Tuesday.
-
Biden signs executive order to ensure power for AI data centres
U.S. President Joe Biden signed an executive order on Tuesday to provide federal support to address massive energy needs for fast-growing advanced artificial intelligence data centres, the White House said.
Lifestyle
-
Ukraine's 'Bachelor' starred an amputee. He's one of many injured veterans navigating a new sex life
When 35-year-old combat medic Tetyana Tsymbaliuk regained consciousness in the hospital room, she found her boyfriend waiting with a bunch of flowers. He proposed, but she declined. After a serious injury, her leg had been amputated; she worried about being a burden as a wife.
-
Italy's hot spots are being overwhelmed with tourists. These hidden places offer an escape without the crowds
There’s far more to Italy than the places that usually feature on travel itineraries. Explore a little farther, and there are scores of extraordinary places where tourists are a rare site.
-
Hot couple from Stellarton, N.S., holds spicy world record
World champion Mike Jack from Stellarton, N.S., has 18 Guinness World Records for eating spicy foods and one he shares with his partner Jamie.
Sports
-
Curler Briane Harris not at fault for anti-doping rule violation, provisional ban lifted
Canadian curler Briane Harris is eligible to return to the sport after an absence of nearly one year.
-
A star NFL player was seen reading a self-help book during a playoff game. It's now the top-selling book on Amazon
Over the years, cameras have caught NFL players doing some memorable non-football things on the sidelines during games. Tom Brady once hurled an electronic tablet in frustration. Three members of the Seattle Seahawks were fined for eating hot dogs during a 1995 preseason game.
-
Texas man charged with stalking WNBA and Indiana Fever star Caitlin Clark
Authorities in Indianapolis have charged a 55-year-old Texas man with felony stalking of Indiana Fever star and WNBA rookie of the year Caitlin Clark.
Autos
-
From AI assistants to holographic displays, automakers showcase in-cabin experiences at CES
Automakers pulled out all the stops to showcase their latest advances for in-vehicle experiences at CES, the Consumer Technology Association’s annual trade show of all things tech, in Las Vegas this week.
-
U.S. probing about 2.6 million Tesla vehicles over 'Actually Smart Summon' feature
The National Highway Traffic Safety Administration said on Tuesday it has opened a probe into 2.6 million Tesla vehicles in the United States over reports of crashes involving a feature that allows users to move their cars remotely.
-
Waterloo Regional Police Service helps recover 20 stolen vehicles in Hamilton, Ont.
Waterloo Regional Police Services helped recover 20 stolen vehicles in Hamilton, Ont.
