The Tories tried unsuccessfully several times to topple the minority Liberal government in 2024. Current speculation in Ottawa is that the election will happen within the spring when the federal government presents its budget. The next federal election is on October 20, 2025.
The Tories have unveiled a plan to scrap the federal government’s carbon tax and cut spending, offering a really different alternative to the previous Liberal government.
The Conservatives have said they might renege on the Liberal government’s promise to limit emissions from the oil and gas sector. The industry claims that the emissions cap would amount to a production cap and result in job losses.
Real Estate: When will the housing market get well?
Mortgage rates are falling, but the actual estate market has been slow to reply, and high home prices still make buying a house in lots of major Canadian cities a difficult goal for a lot of families.
Davelle Morrison, an actual estate agent at Bosley Real Estate Ltd., said 2024 was a terrible 12 months for the property market, but she expects things to show around in 2025.
“I know it will get better,” she said. “People will come to the table to buy because I think people have sat on the sidelines long enough.”
One factor that may help buyers can be lower rates of interest. The Bank of Canada cut rates of interest five times in 2024 to boost its base rate to three.25%. The major banks responded by lowering their base rates, thereby reducing the fee of adjustable-rate mortgages and other variable-rate loans.
But Morrison said she doesn’t think the market will return to the hectic days of 2021 and early 2022 when prices soared.
