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CREA downgrades sales forecast as interest rates weigh on buyers

Published Mon, 25 Nov 2024 04:13:51 GMT

OTTAWA — The Canadian Real Estate Association has downgraded its home sales forecast for this year and next as fewer buyers jump into the market.The association expects 464,239 properties to trade hands this year, a 6.8 per cent decrease from last year. It also now predicts 516,043 being sold in 2024.In an April forecast, CREA said it expected 492,674 properties to be sold this year, a drop of 1.1 per cent from 2022. Home sales for 2024 were predicted to total 561,090. While the association says it has seen a sales rebound in most parts of the country, interest rate hikes are continuing to weigh on borrowing costs and buyer sentiment. It sees markets are still being hampered by a lack of supply, though prices aren’t bearing the brunt as much as sales.It now forecasts the national average home price edging down 0.2 per cent from 2022 to $702,409 this year before rising to $723,243 in 2024.The April forecast pointed to an average price of $670,389 for this year and $702,200 in 2...

2 killed, 1 injured when small plane crashes in Lake of the Ozarks region of Missouri

Published Mon, 25 Nov 2024 04:13:51 GMT

OSAGE BEACH, Mo. (AP) — A small plane crashed Thursday in a wooded area near the Lake of the Ozarks in central Missouri, killing two of the three occupants.Killed were Hayden Ritchhart, 22, of Carrollton, Missouri, and Evan Vandiver, 19, of Richmond, Missouri, police said. Gary Vandiver, 54, of Richmond, suffered serious injuries.The crash happened just after noon, not long after the plane took off from Grand Glaize Airport in Osage Beach. A motorist called 911 and said he saw a plane that appeared to be crashing. Searchers found the plane near a tree.The cause of the crash is being investigated.The Associated Press

Reformist Thai party, thwarted from forming new government, seeks law change to limit Senate’s power

Published Mon, 25 Nov 2024 04:13:51 GMT

BANGKOK (AP) — The political party that captured first place in Thailand’s general election two months ago only to see the country’s unelected Senators block its expectations of taking power announced Friday it’s fighting back — and seeking to change the law to take away the Senate’s de facto veto over who can form a new government.After the surprise May 14 victory of the progressive Move Forward Party, it assembled an eight-party coalition that together had captured 312 seats, a clear majority in the House of Representatives. On that basis, it has the right to try to form a new government, and on Thursday sought to have party leader, 42-year-old businessman-turned politician Pita Limjaroenrat, named prime minister.Selection of a new prime minister requires winning a majority of votes in a joint sitting of the lower house and the 250-seat Senate, meaning a total of at least 376 votes. The process was enshrined in the 2017 Constitution, which was drafted and implemented by the ...

Subtropical storm Don forms in open Atlantic waters and becomes the fifth named storm of the year

Published Mon, 25 Nov 2024 04:13:51 GMT

SAN JUAN, Puerto Rico (AP) — Subtropical storm Don formed in open Atlantic waters on Friday, posing no threat to land, according to the National Hurricane Center in Miami.The storm had maximum sustained winds of 50 mph (85 kph) and was moving north at six mph (nine kph). It was located about 1,165 miles (1,875 kilometers) west-southwest of the Azores, a cluster of islands west of Portugal.Don is the fifth named storm to form this year. It’s forecast to turn east on Sunday and weaken in upcoming days.A subtropical storm tends to have a wide zone of strong winds farther from its center compared with a tropical storm, which generates heavier rains, according to the U.S. National Weather Service.The Atlantic hurricane season officially runs from June 1 to Nov. 30.The Associated Press

Dutch voters will go to the polls on Nov. 22 after the fall of Mark Rutte’s coalition

Published Mon, 25 Nov 2024 04:13:51 GMT

THE HAGUE, Netherlands (AP) — Dutch voters will go to the polls on in an early general election on Nov. 22, the caretaker government announced Friday, a week after Prime Minister Mark Rutte’s four-party coalition quit over its failure to agree a package of measures to rein in migration.The vote for the 150 seats in the lower chamber of parliament will usher in a new generation of leaders after key members of Rutte’s fourth governing coalition announced they would leave politics.Rutte, the Netherlands’ longest-serving premier, signalled the end of an era when he said Monday he would leave politics once a new coalition has been installed after the elections. That is a process that can take months of negotiations between potential coalition members.Rutte was followed by Foreign Minister Wopke Hoekstra and Finance Minister Sigrid Kaag, once tipped as a potential first ever female prime minister of the Netherlands. Kaag said this week she was leaving politics because of the impact on her...

Kevin Spacey denies that crotch-grabbing was his ‘trademark’ pickup move

Published Mon, 25 Nov 2024 04:13:51 GMT

LONDON (AP) — Kevin Spacey denied that grabbing men by the crotch was his “trademark” pickup move as he got increasingly testy under questioning Friday by the prosecutor who accused him of sexually assaulting four men.In a heated exchange that required the intervention of the judge, Spacey was asked about allegations he had grabbed a man backstage at a charity event in a theater.“Absolute bollocks!” Spacey replied to titters from the gallery in the packed courtroom.“Yes, because that’s exactly where you did grab him,” Prosecutor Christine Agnew snapped back.“Really?” Spacey said as he looked up at Justice Mark Wall. “Did he accuse me of grabbing his bollocks?”Someone said, “Yes,” and Wall told him to answer the question. “I did not,” Spacey said.Spacey was in the witness box for a second day in Southwark Crown Court, his final chance to convince jurors that he never assaulted anyone in a case that could affect whether he’s able to make a comeback after sexual...

Man found fatally stabbed at baseball diamond in Uptown: CPD

Published Mon, 25 Nov 2024 04:13:51 GMT

CHICAGO -- Police are investigating an incident where a body was found at a baseball diamond near Marine Drive and Montrose Friday morning. According to police, a 64-year-old man was found unresponsive near the 4400 block of Nort Marine Drive around 5:30 a.m. with stab wounds to the head and neck. The man was pronounced dead on the scene. The baseball diamond is located just west of DuSable Lake Shore Drive and the area is currently blocked off by police for investigation. There is currently no one in custody and police are investigating the incident. Man shot, critically wounded during armed robbery at Bucktown liquor store WGN is actively following this incident and will update as more information is recovered.

Utility truck wanted after bicyclist seriously injured in Lincoln Park

Published Mon, 25 Nov 2024 04:13:51 GMT

CHICAGO — Police released a picture following a hit-and-run of a bicyclist Tuesday in Lincoln Park.Just after 11:50 a.m., a 28-year-old woman on a bicycle was crossing the street in the 2700 block of North Lincoln Avenue.At some point, the woman was struck by a white and black utility truck hauling a trailer. The vehicle was last seen traveling westbound on Diversey. Alert issued after 23 armed robberies on North, NW Sides The woman suffered serious injuries, police said.Anyone with information can call CPD at 312-745-4521.

Man shot while leaving CTA Orange Line station

Published Mon, 25 Nov 2024 04:13:51 GMT

CHICAGO — A 36-year-old man was critically injured after being shot near a CTA Orange Line stop on the city's Southwest Side.The shooting happened around 11:50 p.m. Thursday in the 4900 block of South Western Avenue. Police said the man was exiting the station when he was approached by a man with a gun.The man fired shots at the victim, shooting him twice in the abdomen. The victim was transported to Mount Sinai Hospital in critical condition. According to police, the offender fled the scene in a vehicle which was curbed by Chicago police moments later. Man shot, critically wounded during armed robbery at Bucktown liquor store The man was placed in custody and a weapon was recovered from the vehicle.Area detectives continue to investigate the incident.

Biden administration announces $39 billion in student debt relief for 804,000 borrowers

Published Mon, 25 Nov 2024 04:13:51 GMT

(The Hill) -- The Biden administration has announced that it will provide $39 billion in total student debt relief for 804,000 borrowers, its latest step since President Joe Biden’s student loan forgiveness plan was struck down by the Supreme Court. The Education Department said Friday that the relief is being provided on income-driven repayment plans, in which the federal government cancels remaining balances for the borrower after they have made their payments for 20 or 25 years. The department said the "fixes" will more accurately count monthly payments that qualify under the plans, and it will notify borrowers who are eligible for the relief in the upcoming days. The Supreme Court struck down Biden’s plan to give $10,000 of student debt relief to low- and middle-income borrowers and up to $20,000 for Pell Grant recipients in a 6-3 decision last month. The majority found that Congress had not directly authorized the president to forgive debts worth in aggregate hundreds of b...