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The US–Iran War Is Hitting Your Wallet: What Every Canadian Needs to Know Right Now

  A conflict thousands of kilometres away has quietly become one of the biggest threats to your household budget in 2026. The war between the United States, Israel, and Iran — now stretching into its third month — is reshaping global energy markets, and Canadians are paying the price at the pump, the grocery store, and everywhere in between. $2.03 Gas/litre in parts of Canada +51¢ Average gas rise since Feb. 28 +30% Canada gas price rise Mar–Apr 20% World oil supply disrupted How We Got Here: The Strait of Hormuz Is Closed On February 28, 2026, the United States and Israel launched coordinated airstrikes against Iran in what was dubbed Operation Epic Fury , targeting military facilities, nuclear sites, and key Iranian leadership — resulting in the death of Supreme Leader Ali Khamenei. Iran's response was swift and punishing: missile barrages on Israeli cities, US military bases across the Gulf, and the formal closure of the Strait of Hormuz to international shipping. The Strait of ...
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New Ontario real estate rules give sellers more options

 

Ontario has introduced new rules for real estate transactions that aim to provide more clarity and choice for buyers and sellers. The rules, which took effect on Friday, include the following changes:

  • Open bidding option: Sellers can now choose to disclose the prices of submitted bids to potential buyers, instead of keeping them secret. This is supposed to make the bidding process more transparent and fair, but it is not mandatory. Some experts say open bidding could reduce overbidding and lower prices, while others say it could have the opposite effect or harm sellers’ interests.
  • Designated representation: Buyers and sellers can now choose a designated representative from the same brokerage, instead of being subject to multiple representation. This means that the agent can advocate more actively for their client, instead of acting as a facilitator with limited advice. This is supposed to avoid conflicts of interest and improve the quality of service.
  • Improved disclosures: Brokers and brokerages have to provide more information to their clients, such as their role, duties, and fees. They also have to give them an information guide from the Real Estate Council of Ontario (RECO), the regulatory body that oversees the industry. RECO also has new enforcement tools to ensure compliance and protect consumers.
  • Amended code of ethics: Agents have to follow an updated code of ethics that reflects the new rules and promotes professionalism and ethical conduct.

The new rules are part of Phase 2 of the changes under the Trust in Real Estate Services Act, which was passed in 2019. The federal government has also promised to end blind bidding as part of its home buyers’ bill of rights, but it is still consulting with stakeholders.

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