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CMHC Just Cut Its Housing Forecast — What It Means If You're Buying, Selling, or Renewing

  Published July 28, 2026 Canada Mortgage and Housing Corporation quietly downgraded its outlook for the rest of 2026 last week, and the new numbers are worth a look no matter which side of the housing market you're standing on. The federal housing agency's Summer 2026 update now calls for slower growth, softer home prices, fewer new builds and continued easing in rental markets right through the end of the year — with a split that leaves Ontario and B.C. looking a lot different from the Prairies and Quebec. Here's what's actually in the update, and what it means for your specific situation. What CMHC changed The agency's baseline call for 2026 is a Canadian economy growing at just 0.7%, with high borrowing costs, weak population growth and cautious buyers keeping a lid on demand even as affordability has technically improved. The practical result, nationally: Housing starts are expected to fall to about 241,400 units this year, down from 259,028 in 2025 Resale acti...
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Ebrahim Raisi: From Cleric to President

                                     Ebrahim Raisi

Ebrahim Raisi, born on December 14, 1960, in Mashhad, Iran, is a prominent Iranian cleric, prosecutor, and politician. His journey from religious studies to the highest office in the country has been marked by significant events and ideological shifts.

Early Life and Education

Raisi grew up in Mashhad, a crucial religious center for Twelver Shiʿah Muslims due to its association with the burial place of the eighth imam, ʿAlī al-Riḍā. Born during a period of land reform (1960–63) and the White Revolution development program (1963–79), Raisi witnessed Iran’s transformation in power distribution and wealth. Despite rapid modernization, the clerical establishment, including Mashhad’s influential clerics, felt disenfranchised by the reforms of Mohammad Reza Shah Pahlavi.

Raisi received a religious education and studied under prominent clerics in Qom, the intellectual hub of Shiʿi Islam. During this time, Iranians were dissatisfied with the Shah’s regime, and many seminarians, including Raisi, embraced the revolutionary ideals of Ayatollah Ruhollah Khomeini. Khomeini’s vision of “velāyat-e faqīh” (guardianship of the jurist) emphasized clerical oversight of government policy and administration.

Rise to Power

Raisi actively participated in the events of 1978–79 that led to the shah’s exile and the establishment of an Islamic Republic based on Khomeini’s principles. His commitment to Khomeini’s vision shaped his political trajectory.

  • Head of the Judiciary (2019–21): Raisi held this position, consolidating his influence within the Iranian legal system.
  • President (2021– ): In June 2021, Raisi was elected as Iran’s president. He positioned himself as a staunch anti-corruption advocate and promised solutions to the country’s economic challenges. His victory came after conservative and moderate rivals were disqualified, solidifying hardline control over all branches of power.

Key Policies and Challenges

  1. Nuclear Deal Negotiations: Raisi took a tough stance in negotiations to revive the 2015 nuclear deal. He sought broad relief from US sanctions while offering modest curbs on Iran’s nuclear program.
  2. Domestic Policies: Raisi ordered stricter enforcement of Iran’s “hijab and chastity law,” leading to protests. His hardline approach tested the clerical rulers’ authority.
  3. Supreme Leader Succession: Raisi’s rise positions him as a potential successor to Supreme Leader Ali Khamenei, whose final say shapes major policies in Iran.

As Ebrahim Raisi assumes the presidency, his journey from a seminarian in Qom to the highest office reflects the complex interplay of religion, politics, and power in Iran. His leadership will undoubtedly shape the nation’s trajectory in the years to come. 

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