U.S. stocks edged lower as investors navigated a mix of rising oil prices, corporate earnings signals, and shifting expectations around Federal Reserve policy. The Dow, S&P 500, and Nasdaq all turned down after early gains, reflecting a market grappling with geopolitical tensions and inflation concerns. Indexes Pull Back All three major indexes slipped roughly between 0.3% and 0.6%, giving back some of the previous session’s momentum. The downturn followed renewed volatility in energy markets and cautious sentiment around consumer spending. Oil Prices Add Fresh Pressure Crude prices extended their sharp rally, driven by heightened worries over a potential U.S.–Iran conflict. Brent crude climbed above $71 per barrel, while West Texas Intermediate hovered near $66 — its biggest daily jump since October. Rising energy costs revived inflation concerns and weighed on equities. Walmart Earnings in Focus Walmart posted stronger‑than‑expected results, but its cautious pro...
The federal Liberals have stepped up their commitment to tackle the housing crisis head-on. Their comprehensive plan aims to address a spectrum of housing affordability challenges faced by Canadians, from the elusive dream of homeownership to soaring rental costs and homelessness. Here are the key highlights of their ambitious strategy:
Tax Incentives for Homebuilding:
- The federal government plans to increase the capital cost allowance rate for apartments from 4% to 10%. This move will empower builders to write off more expenses on their taxes.
- Additionally, the GST exemption on rentals will extend to student residences built by public universities, colleges, and school authorities.
Funding to Combat Homelessness:
- Communities across the country grapple with encampments and limited shelter spaces. To address this, the Liberal government is allocating an additional $1 billion over four years to the Reaching Homes program—a federal homelessness initiative.
- An extra $250 million is earmarked to help communities transition people from encampments into stable housing.
Historic Shift in Land Use:
- The Liberals pledge to revolutionize how public lands are utilized for housing. Rather than selling off land, they aim to make more of it available for home construction through leasing arrangements.
A Call to Action:
- Ottawa emphasizes that solving the national housing crisis requires collaboration among all levels of government. Housing Minister Sean Fraser underscores the need for joint efforts and incentives to achieve this critical task.
Prime Minister Justin Trudeau aptly describes this plan as “a scale not seen in generations.” With nearly 3.9 million homes envisioned by 2031, the Liberals are committed to reshaping Canada’s housing landscape and ensuring that every Canadian has a place to call home.
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