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5 Things to Know Today: U.S. Alcohol Ban, GDP Day, 5.25% Yields (Sept 29)

  Tuesday September 29, 2026 A U.S. import ban on Canadian booze kicks in, Statistics Canada reports July GDP, and U.S. bond yields sit at levels not seen since 2007. Here are the five things that matter for your wallet today. 1 The U.S. ban on Canadian alcohol takes effect today As of 12:01 a.m. ET, the U.S. is refusing entry to many Canadian beer, wine, cider and spirits shipments, along with whey products, molasses and larger motorcycles. The measures were signed Sept. 8 and largely replace the 50% tariffs that applied to these goods. Bottles already in the U.S. can still be sold, and product shipped in bulk to be bottled south of the border appears to fall outside the ban. Canadian producers say pivoting to domestic sales won't be easy, because a patchwork of provincial rules complicates selling across borders. What it means for you: The ban hits exports, not what you pay at the store. The exposure is for people who work in or own shares of brewers, distillers and wineries, a...
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Toronto’s Condo Crisis: A Dire Signal for Housing Affordability and Rental Market

 

The Greater Toronto Area (GTA) is facing a condo crisis that has significant implications for housing affordability and rental supply. According to a recent report by CIBC and Urbanation, the GTA’s condo market is “clearly in recessionary territory,” and the nationwide housing crisis is at a level not seen in over 30 years. Here are the key points:

  1. Condo Pre-Sales at a 20-Year Low: Toronto-area condo pre-sales are below 50%, marking a more than 20-year low. High costs, high interest rates, and poor investment prospects have left the market in a challenging situation.

  2. Investor Dilemma: Condo investors play a crucial role in rental supply and overall housing affordability. However, recent investors are mostly losing money, and prospective investors are avoiding new projects due to uncertainty.

  3. Developers Struggle: Developers face rising construction costs due to inflation, coupled with dwindling interest in future projects. This slowdown in future supply exacerbates the crisis.

  4. Limited Relief: Falling interest rates, projected population growth slowdown, and stabilized construction costs provide some relief. However, it’s not a magic solution, and a more comprehensive policy response is needed.

  5. Record-High Inventory: Unsold condo inventory in the second quarter of 2024 reached a record high of 25,893 units, more than 60% higher than the 10- and 20-year averages. Sales were the lowest in 20 years outside of the initial months of the COVID-19 pandemic.

In summary, Toronto’s condo market woes underscore the urgent need for housing policy reforms and creative solutions to address affordability and rental challenges.


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