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CMHC Just Cut Its Housing Forecast — What It Means If You're Buying, Selling, or Renewing

  Published July 28, 2026 Canada Mortgage and Housing Corporation quietly downgraded its outlook for the rest of 2026 last week, and the new numbers are worth a look no matter which side of the housing market you're standing on. The federal housing agency's Summer 2026 update now calls for slower growth, softer home prices, fewer new builds and continued easing in rental markets right through the end of the year — with a split that leaves Ontario and B.C. looking a lot different from the Prairies and Quebec. Here's what's actually in the update, and what it means for your specific situation. What CMHC changed The agency's baseline call for 2026 is a Canadian economy growing at just 0.7%, with high borrowing costs, weak population growth and cautious buyers keeping a lid on demand even as affordability has technically improved. The practical result, nationally: Housing starts are expected to fall to about 241,400 units this year, down from 259,028 in 2025 Resale acti...
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Canada and Greece Strengthen Ties: Prime Minister Trudeau Hosts Greek Counterpart

 

Today, Prime Minister Justin Trudeau welcomed the Prime Minister of the Hellenic Republic, Kyriakos Mitsotakis, to Montréal. The occasion? Greek Independence Day, a celebration of freedom, resilience, and shared values.

Canada and Greece share a deep-rooted history. Our common commitment to democracy, human rights, and the rule of law has forged an enduring friendship. As NATO Allies and transatlantic partners, we stand shoulder to shoulder, advancing international peace, security, and development.

Climate change knows no borders. Together, we pledge to tackle its impact through the NATO Climate Change and Security Center of Excellence in Montréal. We’ll work to make countries more resilient, addressing crises like climate change, biodiversity loss, and pollution.

Canada applauds Greece’s recent legalization of same-sex marriages. We reaffirm our commitment to supporting LGBTQ rights at home and around the world. Additionally, we collaborate on Women, Peace, and Security initiatives.

The Canada-EU Comprehensive Economic and Trade Agreement (CETA) has opened doors for Greek and Canadian businesses. Since its provisional application in 2017, trade between our nations has grown by 80%. We see immense potential for further growth in sectors like aerospace, defense, security, professional training, and tourism.

In a significant move, Greece and the Canadian Commercial Corporation signed an agreement for Greece to acquire seven state-of-the-art DHC-515 firefighting aircraft. These planes will combat devastating forest fires that increasingly ravage Southern Europe. This collaboration exemplifies our dynamic trade and economic partnership.

As we deepen our friendship, let us continue working together to promote peace, stability, and prosperity worldwide.


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