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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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Ontario Cancels $100M Starlink Deal Amid Escalating Trade Tensions

 

Ontario Premier Doug Ford has announced the cancellation of a $100-million contract with Elon Musk’s Starlink satellite internet service, a move aimed squarely at countering U.S. tariffs on Canadian goods. The contract—signed last November as part of Ontario’s initiative to deliver high-speed internet to 15,000 remote and rural premises—will now be scrapped amid a broader decision to ban American companies from provincial contracts until the tariffs are removed. 

Ford emphatically stated on social media that Ontario “won’t do business with people hellbent on destroying our economy,” attributing the policy shift to President Trump’s tariff actions. He warned that U.S.-based businesses could lose “tens of billions of dollars” in new revenue as a result. This decisive step is just one element of Ontario’s wider strategy to respond to the escalating trade dispute, which has already seen retaliatory tariffs imposed by both Canada and the United States. 

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