The Loonie Hour Are Tariffs Looming on Canadian Oil?
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Jan 17, 2025 Alberta's refusal to adopt proposed tariffs sparks debate surrounding Canadian oil. Toronto's condo market faces a significant downturn, with sales hitting 28-year lows amid rising property taxes. Speculation arises about Mark Carney's potential bid for prime minister. Discussions also cover the geopolitical intricacies of Canadian oil exports and the ramifications of potential tariffs on the economy. The impact of melting Arctic ice on shipping routes and internal trade barriers highlights the evolving landscape of energy dynamics and market stability.
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Toronto Condo Crash
- Toronto's pre-sale condo market hit a 28-year low in 2024, signaling a market crash.
- Oversupply, declining rents, and slowing population growth contribute to this decline.
Toronto vs. National Market
- The Toronto condo crash resembles the late 80s/90s stagnation period.
- The situation is exclusive to the GTA, with other Canadian markets performing differently.
Toronto Property Tax Hike
- Toronto Mayor Olivia Chow announced a 6.9% property tax increase for 2025, following significant hikes in previous years.
- This adds to the existing challenges in the Toronto real estate market.