Killer who stabbed victim 'at least 52 times' dies in B.C. prison
A 72-year-old inmate serving a life sentence for a brutal murder that happened in Chilliwack in 2016 has died, according to the Correctional Service of Canada.
The Bank of Canada’s decision to hold interest rates steady on Wednesday could put financial pressure on landlords and leave renters vulnerable, experts say.
The second rate hold from the BoC is likely to weigh on some landlords who hold variable rate mortgages on their investment properties and could trigger them to sell their units, according to realtors. This scenario would impact tenants as they face the risk of being displaced into a sky-high rental market, they said.
"For every month we have a rate pause, there will be landlords who will struggle to hold onto their rental properties,” Davelle Morrison, broker at Bosley Real Estate, told BNN Bloomberg in an interview on Wednesday.
She noted that those investment property owners who are currently operating at a loss will likely be forced to sell, or, increase the price of rent to keep up with costs. In either scenario, the renter gets squeezed, she added.
"Most landlords have to start charging more in rent just to keep up with heightened costs that come with interest rate hikes — which of course have a trickle down effect into the rental market at large,” Morrison added.
Another housing expert is echoing her sentiment.
Owners who are selling their properties due to financial stress have increased 300 per cent year-over-year in Toronto, Daniel Foch, broker at RARE Real Estate, told BNN Bloomberg in an interview on Wednesday.
“It’s time that’s killing landlords financially. The freeze in interest rates means they are forced to carry higher costs for prolonged periods of time,” he said.
Renters are at the mercy of their landlords should they be forced to sell, he added. This leaves the average tenant at a disadvantage and creates a supply of units that will ultimately cost more to rent, he said.
“This kind of pressure could likely drive some renters who have been on the sidelines for quite some time to enter the buyer market,” he said.
A 72-year-old inmate serving a life sentence for a brutal murder that happened in Chilliwack in 2016 has died, according to the Correctional Service of Canada.
The Israeli military said it struck Hezbollah's headquarters in Beirut on Friday in a series of massive explosions that targeted the leader of the militant group and levelled multiple high-rise apartment buildings.
The U.S. Department of Transportation said Friday it had fined Air Canada US$250,000 for operating flights in 2022 and 2023 in prohibited Iraqi airspace.
A former Canadian military reservist has been sentenced to house arrest after posting a video of himself firing a shotgun at a picture of a member of Parliament whom he accused of being a 'communist agent' for China.
Hurricane Helene left an enormous path of destruction across Florida and the southeastern U.S. on Friday, killing at least 40 people in four states, snapping towering oaks like twigs and tearing apart homes as rescue crews launched desperate missions to save people from floodwaters.
More than 550 symptomatic people responded to an online questionnaire about a gastrointestinal illness at a Prince Edward Island shellfish festival last weekend.
A U.S. driver somehow squeezed her vehicle through a parkade hallway at a Metro Vancouver casino Thursday, before getting stuck at an elevator bank.
Maggie Smith, the masterful, scene-stealing actor who won an Oscar for the 1969 film 'The Prime of Miss Jean Brodie' and gained new fans in the 21st century as the dowager Countess of Grantham in 'Downton Abbey' and Professor Minerva McGonagall in the Harry Potter films, died Friday. She was 89.
Defence Minister Bill Blair says there is a ship in place near Lebanon, as well as 150 deployed additional Canadian Armed Forces members prepared for a military-assisted departure of stranded Canadians, if more violence in the region requires it.
A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.
When a group of B.C. filmmakers set out on a small fishing boat near Powell River last week, they hoped to capture some video for a documentary on humpback whales. What happened next blew their minds.
A pizza chain in Edmonton claims to have the world's largest deliverable pizza.
Sarah McLachlan is returning to her hometown of Halifax in November.
Wayne MacKay is still playing basketball twice at Mount Allison University at 87 years old.
A man from a small rural Alberta town is making music that makes people laugh.
An Indigenous artist has a buyer-beware warning ahead of Sept. 30, the National Day for Truth and Reconciliation.
Police are looking to the public for help after thieves broke into a Lethbridge ice creamery, stealing from the store.
An ordinary day on the job delivering mail in East Elmwood quickly turned dramatic for Canada Post letter carrier Jared Plourde. A woman on his route was calling out in distress.