This news roundup covers various Canadian stories including a predicted housing market rebound in 2025, concerns about Chinese-Russian air cooperation in the Arctic, and efforts to attract young people to local politics.
Housing market poised for 2025 comeback as lower rates unleash pent-up demand Economists and real estate agents believe home sales activity is poised to remain strong in 2025, thanks to much lower borrowing costs and more favourable rules for buyers. Re/Max's 2025 housing market outlook report says it is expecting home sales to rise in 33 of 37 Canadian regions. It forecasts the national average residential price to rise by five per cent.
Along with falling rates, TD economist Rishi Sondhi said the federal government's recent mortgage rule changes, which kicked in on Dec. 15, should help lift home sales and prices. While pent-up demand should translate to more homes changing hands in the coming months, he cautions that the rush will likely be exhausted in the first half of next year. Chinese-Russian co-operation on Norad's radar The head of the North American Aerospace Defence Command says Chinese and Russian air co-operation in the Arctic has Norad's'full attention.' Those two countries for the first time staged a joint patrol in the Arctic near the coast of Alaska last July. U.S. Gen. Gregory Guillot says it could take decades for them to achieve the level of integration Canada and the U.S. already have but it is still something Norad is watching closely. Guillot says co-operation between Canada and the U.S. in the Arctic was strong in 2024, including their co-ordinated effort to respond during the July incident. Guillot says Russia is increasingly able to threaten North America from further and further away which means Norad must increase its ability to detect threats. Here's what else we're watching... How to attract young people to local politics Municipal leaders across Quebec are looking for ways to get young people, especially women, to run for local office in next year's election
HOUSINGMARKET ECONOMY NORAD ARCTIC POLITICS
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Canada set to appoint Arctic ambassador, open new consulates as part of new Arctic Foreign PolicyCanada will appoint a new Arctic Ambassador and open two new consulates in the region to help deal with what it calls changing geopolitical dynamics in the Arctic, as part of its newly launched Arctic Foreign Policy.
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The greatest threat to the Canadian Arctic is security, not sovereigntyThe Hill Times
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Canadian Men’s 4x100 Relay Team Wins Canadian Press Team of the Year AwardThe Canadian men's 4x100-meter relay team, led by Andre De Grasse, won gold at the 2024 Paris Olympics and has been awarded The Canadian Press team of the year award.
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Russian missile attack in Ukraine inflicts “substantial damage” on Canadian business complex in KyivEarly reports say one person died in the assault, which is part of Moscow’s continuing military action in Ukraine
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NATO to boost efforts to counter Russian and Chinese sabotage acts, Rutte saysThe NATO chief said allies will ‘continue to stand together to face these threats through a range of measures, including greater intelligence sharing and better protection of critical infrastructure’
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Canada announces new sanctions against Chinese, Russian officialsPast and present senior Chinese officials, as well as Russian officials and collaborators, are the subjects of new human rights sanctions, the Canadian government said Tuesday.
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