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Trump Lifts Tariffs on Key Imports to Ease Consumer Costs

                           US President Donald Trump drops tariffs on coffee, fruit, beef as consumers face high prices. In a move aimed at addressing rising consumer prices, President Donald Trump announced the removal of tariffs on beef, coffee, and tropical fruits. The decision comes after weeks of mounting concerns from households and businesses over the cost of everyday essentials. The administration stated that lifting these tariffs will help stabilize food markets and provide relief to consumers ahead of the holiday season. Economists note that the policy shift could lower grocery bills and improve trade relations with countries that supply these goods. While supporters welcome the measure as a step toward easing inflationary pressures, critics argue that the broader trade strategy remains uncertain. For now, shoppers may see more affordable beef, coffee, and fruit on store shelves—a tangible chang...
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Canadian Home Sales Dip in May, Listings Show Modest Growth

 

Amid a somewhat sluggish market, Canadian home sales experienced a slight decline in May. According to data from the Canadian Real Estate Association (CREA), sales fell by 0.6% compared to April and were down 5.9% year-over-year. The average home price also dipped to $699,117, marking a 4% decrease from the previous year.

However, there’s a silver lining: the number of newly listed properties increased by 0.5% in May, signaling a modest uptick in listings. By the end of the month, approximately 175,000 properties were available for sale across the country, a substantial 28.4% increase compared to the same period last year. Despite this positive trend, it’s worth noting that listing levels remain below historical averages.

Economists are cautiously optimistic. The recent interest rate cut by the Bank of Canada (the first in over four years) may encourage buyers to re-enter the market. While the impact on affordability is still uncertain, further rate relief could set the stage for a stronger second half of 2024. As bond yields decline, we may see increased activity in June, striking a balance between lower mortgage rates and potential home price growth.

In summary, May was indeed a “sleepy month” for housing activity in Canada, but with interest rates playing a pivotal role, the market’s dynamics could shift in the coming months. Keep an eye on developments as we navigate this intriguing real estate landscape.


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