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People's March: Thousands Rally in Washington Against Trump Ahead of Inauguration

  Thousands of demonstrators, predominantly women, took to the streets of Washington, D.C., on Saturday to protest President-elect Donald Trump just days before his inauguration. The event, known as the People's March, has been held annually since 2017 and was previously called the Women's March. The march, organized by a coalition of groups with varied interests such as climate change, immigration, and women's rights, aimed to confront "Trumpism" and draw on past successes against autocrats. Despite expectations of 50,000 participants, around 5,000 people gathered at three parks before marching to the Lincoln Memorial for the rally. Protesters carried signs with messages like "Feminists v. Fascists" and "People over politics," and many wore the iconic pink "pussy hats" from the 2017 Women's March. The event highlighted a range of issues, including gender justice, bodily autonomy, and democracy. The People's March has evolved ...
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Toronto’s Condo Crisis: A Dire Signal for Housing Affordability and Rental Market

 

The Greater Toronto Area (GTA) is facing a condo crisis that has significant implications for housing affordability and rental supply. According to a recent report by CIBC and Urbanation, the GTA’s condo market is “clearly in recessionary territory,” and the nationwide housing crisis is at a level not seen in over 30 years. Here are the key points:

  1. Condo Pre-Sales at a 20-Year Low: Toronto-area condo pre-sales are below 50%, marking a more than 20-year low. High costs, high interest rates, and poor investment prospects have left the market in a challenging situation.

  2. Investor Dilemma: Condo investors play a crucial role in rental supply and overall housing affordability. However, recent investors are mostly losing money, and prospective investors are avoiding new projects due to uncertainty.

  3. Developers Struggle: Developers face rising construction costs due to inflation, coupled with dwindling interest in future projects. This slowdown in future supply exacerbates the crisis.

  4. Limited Relief: Falling interest rates, projected population growth slowdown, and stabilized construction costs provide some relief. However, it’s not a magic solution, and a more comprehensive policy response is needed.

  5. Record-High Inventory: Unsold condo inventory in the second quarter of 2024 reached a record high of 25,893 units, more than 60% higher than the 10- and 20-year averages. Sales were the lowest in 20 years outside of the initial months of the COVID-19 pandemic.

In summary, Toronto’s condo market woes underscore the urgent need for housing policy reforms and creative solutions to address affordability and rental challenges.


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