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New Tensions Rise as Iran Warns of Possible Strikes on Regional Energy Sites

  Iran has issued a sharp warning that it may target regional energy infrastructure following recent threats from U.S. President Donald Trump over the Strait of Hormuz. The exchange marks a renewed escalation in a long‑running standoff over one of the world’s most critical maritime chokepoints. According to Iranian officials, any attempt to restrict Tehran’s access to the strait would be met with what they described as “direct and proportional” action. Energy facilities across the Gulf—central to global oil and gas supply—were specifically mentioned as potential targets if tensions continue to rise. The Trump administration has repeatedly criticized Iran’s activities in the region, warning of consequences should Tehran interfere with international shipping. The latest remarks from Washington prompted Iran’s response, which framed its position as defensive and tied to national sovereignty. Regional governments have expressed concern that even rhetorical escalation could unsettle...
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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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