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Fed Faces New Economic Landscape Post-Trump Victory

  The U.S. Federal Reserve is poised to reduce its benchmark policy rate by a quarter of a percentage point at the conclusion of its policy meeting on Thursday. This decision, while significant, is overshadowed by the broader economic uncertainties following Donald Trump’s re-election. Trump’s victory introduces potential shifts in economic policies, including changes to tariffs, tax cuts, and immigration, which could significantly impact the Fed’s approach to managing economic growth and inflation. The central bank, which has been focused on combating inflation, may now need to navigate a more complex economic environment with higher federal deficits and potential inflationary pressures. Market reactions have already been notable, with bond yields rising as investors anticipate a less aggressive rate-cutting cycle from the Fed. The central bank’s challenge will be to balance these new fiscal policies while maintaining its dual mandate of low inflation and low unemployment. As the Fed

Toronto Condo Market Faces Historic Decline in Q3 Sales

 

The Toronto region’s condominium market is experiencing a significant downturn, with sales plummeting by 81% in the third quarter of 2024 compared to the same period last year. This dramatic drop marks the lowest quarterly total since the first quarter of 1995.

Only 567 new condos were sold in the third quarter, a stark contrast to previous years. This decline is not only a year-over-year issue but also represents an 87% decrease below the ten-year average for third-quarter condo sales.

Experts attribute this slump to a combination of factors, including rising interest rates, economic uncertainty, and a shift in buyer preferences towards other types of housing. The current market conditions have left many developers and investors concerned about the future of the condo sector in the Greater Toronto Area.

As the market continues to navigate these challenges, stakeholders are closely monitoring trends and potential policy changes that could help stabilize and revive condo sales in the coming quarters.


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