Experts say housing market poised to remain strong in 2025

Here is a roundup of stories from The Canadian Press designed to bring you up to speed…

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 elections. But that is a tall order given the well-documented incidents of harassment and intimidation faced by elected officials in the province. As many as 800 municipal councillors — 10 per cent of the roughly 8,000 people elected to local office in 2021 — have quit before the end of their term. They’ve left for a wide range of reasons, but some departures were influenced by the toxic behaviour of citizens. Municipal elections across the province are scheduled for Nov. 2, 2025.

‘Tinder of construction’ aims to keep B.C. building waste out of landfills

A non-profit organization has launched a program aimed at convincing property developers, construction companies and contractors on Vancouver Island to recycle their project waste in a venture that works just like a dating website. Gil Yaron with the Vancouver-based non-profit Light House, which is behind the exchange, says they are the matchmaker of the construction sector, enticing those in the industry to pass on their reusable waste instead of dumping it to the landfills. Yaron says they want to get the word out about the launch of the Building Material Exchange on Vancouver Island and the benefits of recycling the material, saving them money for tipping fees, while allowing other companies to use their leftovers.

Manitoba politicians face more security issues

Security at the Manitoba legislature has been increased since the start of the COVID-19 pandemic and one veteran politician says things are unlikely to return fully to the way they once were. While Greg Selinger often bicycled to work — alone — during his time as premier a decade ago, Premier Wab Kinew is driven to events with security personnel. Some entrances to the legislative building have been closed off, funding for security at constituency offices has been increased, and a new fence around the lieutenant-governor’s house is being considered. Among the events that caused concern at the legislature was an incident in 2021 in which a man tried to drive a vehicle up the building’s front steps.

Unconvincing Canada tops Germany at world juniors

Dave Cameron and his players once again found themselves in an uncomfortable position. Coming off a stunning, embarrassing loss to Latvia some 48 hours earlier at the world junior hockey championship, Canada led another of the sport’s lesser lights by a single goal late in regulation on Sunday. Oliver Bonk, Caden Price and Mathieu Cataford, into the empty net, scored as the wobbly Canadians picked up an unconvincing 3-0 victory over Germany. Canada suffered one of the worst defeats in the program’s history when Latvia — outscored 41-4 in four previous meetings at the event — shocked the hockey world.