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Tehran Signals Defiance as Supreme Leader Vows Retaliation and Strait Closure

  A man holds a picture of Iran's new supreme leader, Mojtaba Khamenei, while people attend a funeral ceremony for the Iranian military commanders who were killed in strikes, in Tehran Iran’s Supreme Leader issued his first public remarks following the deaths of senior Iranian commanders, vowing that the country will “avenge the martyrs” and maintain the closure of the strategic Strait of Hormuz until what he described as “justice” is served. His comments, delivered during a nationally broadcast address, underscore a sharp escalation in rhetoric at a moment of heightened regional tension. The Supreme Leader framed the recent losses as sacrifices in the defense of Iran’s sovereignty, promising that those responsible “will face consequences.” He also reaffirmed Iran’s decision to keep the Strait closed, a move that has already disrupted global shipping routes and rattled energy markets. The strait, one of the world’s most critical chokepoints for oil transport, has long been a flas...
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Canada’s Rental Market Cools Further as Asking Rents Dip to $2,121 in July

 


Rental Prices Continue to Slide Across Canada

Canada’s rental market saw another month of cooling in July, with the national average asking rent dropping to $2,121, marking a 3.6% decline year-over-year—the largest annual drop recorded in 2025 so far. This marks the tenth consecutive month of annual decreases, signaling a prolonged softening phase in rental demand.

While rents held relatively steady compared to June, the downward trend was evident across most property types:

  • Purpose-built apartments: down 1.7% to $2,095
  • Condo apartments: down 5.7% to $2,202
  • Houses and townhomes: down 8.2% to $2,170

Regional Highlights

  • Nova Scotia led the decline with a 5% drop to $2,275
  • British Columbia followed with a 4.4% decrease to $2,475
  • Ontario rents fell 3% to $2,325
  • Saskatchewan, however, bucked the trend with a 4% increase to $1,384, remaining the most affordable province

Major Cities

  • Calgary saw the steepest drop among major cities at 7.9%, with average rents at $1,927
  • Vancouver rents fell 7% to $2,830
  • Toronto experienced a 4.7% decline to $2,587
  • Montreal dipped 2.3% to $1,966

Despite the recent slowdown, rents remain 2% higher than two years ago and 11% above levels from three years ago, suggesting long-term growth remains intact.


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