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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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Russian Air Defense Fire Suspected in Azerbaijan Airlines Crash

 

Aviation experts have raised concerns that Russia's air defense fire may have caused the recent crash of an Azerbaijan Airlines plane, as the nation mourns the loss of 38 lives.

The Embraer 190 aircraft, en route from Baku to Grozny, was diverted to Aktau, Kazakhstan, due to unspecified reasons. Tragically, it crashed while attempting to land, killing 38 of the 67 people on board and injuring all 29 survivors. 

Cellphone footage shows the plane making a steep descent before crashing into the ground and exploding. Experts point to holes in the plane's tail section as evidence that it may have been hit by a Russian air defense missile, possibly while Russia was defending against a Ukrainian drone attack.

Azerbaijan observed a nationwide day of mourning, with flags lowered to half-mast and a moment of silence observed across the country. Azerbaijani President Ilham Aliyev stated that the weather forced the plane to change its course, but investigations are ongoing.

The Kremlin has urged caution in drawing conclusions before the official investigation is complete. Meanwhile, Azerbaijan demands an official apology and compensation from Russia.




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