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Tehran Signals Defiance as Supreme Leader Vows Retaliation and Strait Closure

  A man holds a picture of Iran's new supreme leader, Mojtaba Khamenei, while people attend a funeral ceremony for the Iranian military commanders who were killed in strikes, in Tehran Iran’s Supreme Leader issued his first public remarks following the deaths of senior Iranian commanders, vowing that the country will “avenge the martyrs” and maintain the closure of the strategic Strait of Hormuz until what he described as “justice” is served. His comments, delivered during a nationally broadcast address, underscore a sharp escalation in rhetoric at a moment of heightened regional tension. The Supreme Leader framed the recent losses as sacrifices in the defense of Iran’s sovereignty, promising that those responsible “will face consequences.” He also reaffirmed Iran’s decision to keep the Strait closed, a move that has already disrupted global shipping routes and rattled energy markets. The strait, one of the world’s most critical chokepoints for oil transport, has long been a flas...
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Toronto’s Housing Market Plummets to a 13-Year Low Amidst Higher Mortgage Rates

 


Toronto’s housing market experienced a significant decline in 2023, with home sales dropping to a 13-year low. According to a report by the Toronto Regional Real Estate Board, the number of home sales in the Greater Toronto Area (GTA) fell by 11% compared to the previous year . This decline can be attributed to the rise in mortgage rates, which made it difficult for potential buyers to afford homes.

The average home sold price in the GTA for November 2023 was $1,051,180, which is a 7% drop compared to the previous month . The report also states that the GTA housing market has been in a deep buyer’s market for the past few months, with the sales-to-new-listings ratio (SNLR) being 40% in November 2023. This means that there are comparatively more properties available for purchase than buyers in the market, giving buyers more leverage in negotiating prices and terms. However, the GTA is now once again in a balanced market, with buyers losing favour as sellers regain some control in the market .


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