September 2024

The Liberal government’s latest efforts to make it easier for young Canadians to buy a home will also help address the housing supply crisis, the Finance Minister said. Chrystia Freeland supported on Tuesday. The Deputy Prime Minister spoke to journalists about last week’s announcement that Ottawa would make a 30-year promise mortgage amortizations available on all new builds and for all first-time buyers, as well as proposals to increase the price ceiling on insured mortgages to $1.5 million, up from $1 million currently. The measures were presented as a way to make it easier for Canadians excluded from the housing market to obtain a mortgage and reduce their monthly payments. Freeland reiterated Tuesday that the Liberal government is trying to provide additional support to young Canadians and those struggling to afford housing as borrowing costs and home prices remain high. The story continues below the advertisement “It is absolutely essential that the dream of home ownership becomes a reality for young Canadians,” she said. “We intentionally give them an advantage, a head start in the real estate market.” 1:12 Freeland says Canada will extend amortization to 30 years, raise ceiling on insured mortgages But Freeland was also asked whether she had considered that Ottawa’s latest proposals to add more buyers to the market might end up driving up home prices as competition for properties on the market intensifies. Receive weekly financial news Receive expert insights, questions and answers on markets, housing, inflation and personal finance every Saturday. She said the Liberal strategy was “carefully targeted” at first-time buyers, citing the launch last year of the first home ownership savings account to help young Canadians save for a down payment. Freeland added that the latest measures also focus on new construction, saying the measures will add an “additional incentive” to buy new homes and encourage builders to add more units. The story continues below the advertisement The Canadian Home Builders’ Association welcomed the government’s decision last week, saying developers cannot begin construction on new homes if potential buyers cannot qualify for mortgages. Some experts who spoke to Global News last week said the only impact on housing construction from the new proposals would be indirect, as higher prices encourage investors to put money into pre-built projects. The Liberal government has a goal of building 3.9 million more homes by 2031. Freeland said they are moving toward that goal with a series of policies to boost home buying announced over the past year as housing affordability has become a priority for Canadians. Freeland said the Liberal government is “building a housing plan step by step” and that measures to increase the flow of buyers into the market were only possible after previous announcements aimed at boosting new housing construction. “The biggest housing challenge in Canada is supply, supply, supply, and we’re addressing that,” she said. Current trend After controversial directive, Quebec now says English speakers have right to health services in English Cineplex fined record $38.9 million for online booking fees Freeland teased that the latest mortgage changes were “not the last you’ll hear from us on housing” as the fall session of Parliament is well underway. 2:30 Freeland clarifies down payment levels for new insured mortgage cap New Down Payment Requirements for Insured Mortgages As part of her announcement, Freeland clarified the new down payment requirements for an insured mortgage. The story continues below the advertisement Currently, buyers who take out a mortgage with federally backed insurance will be required to make a minimum down payment of 5% on the first $500,000 and a 10% down payment on the remaining portion, up to an additional $500,000. While the price cap has been raised to $1.5 million, Freeland announced Tuesday that the 10% down payment requirement will simply extend to cover the remainder of the purchase price, up to $1 million on a home. For example, if a buyer takes out an insured mortgage on a home valued at $1.25 million, they will need to put down 5% on the first $500,000 and 10% on the remaining $750,000, for a total down payment of $100,000. Learn more about money More videos © 2024 Global News, a division of Corus Entertainment Inc. Source link

A little boy who was kidnapped A man abducted by a stranger has been found safe and sound, more than 70 years after his kidnapping. Luis Armando Albino was only six years old when, in 1951, a woman lured him to a California park, promising to buy him candy from a nearby store. He was playing with his older brother, Roger. An intensive search was launched for the boy, but he was never found. The trail eventually disappeared and his family had to deal with the painful consequences of his death. However, that all changed in 2020 when her niece took an online ancestry test “just for fun” and the results revealed a 22% match to a senior living on the opposite coast. Alida Alequin, 63, told the San Jose Mercury News that she I scoured the internet, old newspaper articles and archives for several years before turning over the DNA test results to police in June of this year. Oakland police investigators agreed it was a strong lead. The story continues below the advertisement Albino was found by police and provided a new DNA sample, which was matched to Alequin’s mother (Albino’s sister). It was a solid match and Alequin said she and her mother were relieved and overcome with emotion when they found out. Receive daily national news Get the day’s top political, business and current affairs news delivered to your inbox once a day. “I took my mother’s hands and said, ‘We found it.’ I was thrilled,” she said. told the Mercury News. 0:23 Former cop accused of killing two people, kidnapping baby commits suicide after police chase Previous video Next video Shortly after, Albino and some of his relatives were brought by the FBI to Oakland to meet his long-lost family. Although his mother died in 2005, he was able to meet his brother, the last person to see him. During the 70 years Albino was missing, he was always in his family’s hearts and his picture hung in the homes of his relatives, his niece said. Before his death, his mother never gave up hope that her son was alive, and Alequin told the LA Times that she I kept a newspaper clipping about his kidnapping in his wallet. The story continues below the advertisement Oakland Tribune articles from the time reported that police, soldiers from a local military base, the Coast Guard and other city employees joined a massive search for the missing boy. San Francisco Bay and other waterways were also searched, the articles said. His brother was repeatedly interviewed by investigators and maintained his story that a woman wearing a bandana around her head took his brother. Current trend ‘Alarming trend’: More foreign students seeking asylum, says minister NBC and CBS polls show Harris gaining ground as election focus shifts to Trump Albino, a father and grandfather, is a retired firefighter and a Marine Corps veteran who served in Vietnam, according to his niece. The woman who kidnapped Albino ended up raising him as her own son, after fleeing with him across the country. Authorities have not said where he was raised on the East Coast. After the family reunion in June, Albino returned to the East Coast, but returned in July for a three-week visit. That was the last time he saw Roger, who died in August. Alequin said his uncle did not want to speak to the media. “I’ve always been determined to find him and who knows, if my story gets out it might help other families who are going through the same thing,” Alequin said. “I would say don’t give up.” — with files from the Associated Press 2:03 Missing Cat Reunites With Family After 8 Years And At Least 105 Miles On The Road. Where Was She All That Time? Previous video Next video More about the world More videos © 2024 Global News, a division of Corus Entertainment Inc. Source link

Reduce the font size of the article Increase the font size of the article The London Knights finished their 2024 pre-season schedule with a 5-3 road loss at Sarnia on Saturday. The Sting set the tone with a goal just 47 seconds into the game, as Easton Wainwright was sent on a breakaway by James Barr and put a backhander into the Knights’ net for a 1-0 lead. Sarnia followed with two more first-period goals from Alessandro Di Iorio and Tyson Doucette and took a 3-0 lead into the second period where the clubs traded goals late in the period. Sting defenceman Mitch Young beat a pass from Tyson Doucette at 15:57 of the second period to make it 4-0 Sarnia, then London got its first goal at 19:24 when Henry Brzustewicz fired a wrist shot from the top of the left circle for his first goal of the pre-season and his first in a game since a double-overtime winner in Game 3 of the 2024 OHL Championship Series. The story continues below the advertisement Rene Van Bommel brought the Knights within one point with two goals in the third period. Get the latest national news For news that impacts Canada and the world, sign up to receive breaking news alerts directly when it happens. His first goal came on a solo effort that saw Van Bommel dart down the middle of the ice where he split the Sarnia defence, then drove to the Sting net where he lifted a puck past Nick Surzycia at 1:27 of the third to cut Sarnia’s lead in half. Van Bommel’s second goal made it 4-3 at 12:26 when he and Cohen Bidgood went to center ice on a shorthanded two-on-one and Van Bommel deflected a puck through the air and into the Sting net. More about sport More videos Sarnia held off a couple of late chances from London, then sealed the game with an empty-net goal from Ruslan Karimov, making his Sting debut. The goal came on a power play. Sarnia outshot the Knights 26-19. Harrington, Keane, Gagner and Houser receive training camp invites Four former Knights players are getting a chance to show what they can do after receiving an invite to training camp. 2013 OHL championship captain Scott Harrington is in camp with the St. Louis Blues. Sam Gagner is in Carolina with the Hurricanes, defenseman Joey Keane is with Detroit and Michael Houser is in camp with the Sabres. Of the four, only Gagner played in the NHL last season. He played 28 games with the Edmonton Oilers. Keane played the last two seasons in the KHL. Current trend Despite good economic news, experts warn the pain is not over yet Hundreds of people have been defrauded in a door-to-door scam in Ontario, and arrest warrants have been issued across Canada The story continues below the advertisement To be continued The 2024 Ontario Hockey League championship banner will be raised to the rafters in London as the Knights begin their 2024-25 regular season on Friday, September 27 at 7 p.m. London will host the Flint Firebirds in the first game of a home-and-away series. The two teams met in the first round of the 2024 playoffs in a series that may have only lasted four games, but it featured a paltry seven-goal differential and a Game 3 that went to overtime. The Firebirds are ready to take the next step this year and should challenge for a top spot in the Western Conference. Coverage will begin at 6:30 p.m. on 980 CFPL, on 980CFPL.ca and on the Radioplayer and iHeart Radio apps. © 2024 Global News, a division of Corus Entertainment Inc. Source link

André De Grasse savors the euphoria of being a gold medalist again. The 29-year-old from Markham, Ont., capped an adversity-filled Olympics in August by leading the Canadian men’s 4×100-metre relay team to the gold medala first in Canada since 1996. De Grasse was in Toronto in recent weeks for the Toronto International Film Festival and several other engagements. “I just feel love,” he said. “I’m enjoying the ride, enjoying the thrill and having fun at the same time. It’s a surreal moment.” The Paris relay medal was De Grasse’s seventh, tying him with swimmer Penny Oleksiak as Canada’s most decorated summer Olympians. The City of Markham is honoring him and other Olympic and Paralympic athletes who have called the city home with a parade Sunday. Mayor Frank Scarpitti has also proclaimed Aug. 9 as André De Grasse Day. The story continues below the advertisement Winning his seventh medal, and a second gold, is something De Grasse says has helped cement his legacy. “A lot of people, when I came home, didn’t even talk about all the struggles I faced,” De Grasse said. “They just said, ‘We were watching you on TV, it was amazing how you brought Canada back.’ We made history.” “Just to get that welcome from people, and what was the last thing on their minds, and just me now being tied for the most decorated champion in Canada with my good friend Penny. It was just a surreal feeling.” More about sport More videos “The city where I grew up is now organizing a parade for me. I’m looking forward to this reception. I hope I’m not too emotional compared to the last time (in 2016).” Get the latest national news For news that impacts Canada and the world, sign up to receive breaking news alerts directly when it happens. De Grasse missed an Olympic final for the first time in his career, failing to qualify for the 100 and 200 metres in Paris. After missing the 200 metres final, he revealed he had aggravated a hamstring injury he suffered a month before the Olympics. That performance sparked some skepticism about whether De Grasse was on track. But De Grasse said he was looking forward to competing at the 2028 Los Angeles Games. “As long as I have sponsors that support me and believe in me financially and I’m able to keep going, I’ll keep going,” he said. “I had my best time this year in over three years and I still didn’t feel like I was 100 percent. The story continues below the advertisement “I know if I can get back to 100%, without having to do anything, if I do everything right, I can still compete at a high level. One of the medalists (American Fred Kerley) in the 100 meters, he’s my age, … so I don’t feel old and can’t keep going. I feel like my body is still in good shape, I just have to make sure I do the right things to take care of it.” Current trend Despite good economic news, experts warn the pain is not over yet Hundreds of people have been defrauded in a door-to-door scam in Ontario, and arrest warrants have been issued across Canada Her coach, Rana Reider, also had her accreditation revoked by the Canadian Olympic Committee the day before the 200m semi-final in Paris. British media reported that the decision was linked to concerns about athlete “protection” and allegations of sexual and emotional abuse, and court documents filed in Broward County, Florida, show that three women have filed a lawsuit against Reider over allegations of sexual and emotional abuse. Reider has not been charged with any crime and the allegations have not been proven in court. De Grasse said he learned about Reider’s situation at the same time the public did and it was difficult to deal with. He also said he would reevaluate things, including his coaching situation, once he returns to his home base in Florida in a few weeks. Still, with the support of his team, he helped Canada move from third to first in the relay with a time of 8.89 seconds to avoid leaving an Olympic Games without a medal for the first time. The story continues below the advertisement “It’s tough,” he said. “In my last two Games, I’ve had a lot of success winning six Olympic medals and now I’m at the biggest stage of my career. Of course, I’ve faced adversity between Olympics, but now I’m going into the Games, I’m facing the adversity of not being 100 per cent and not having full confidence in myself because of the situation (with my coach).” “It’s probably one of the best medals I’ve ever won, apart from my 200m gold (in Tokyo),” De Grasse added. “It’s got to be in the top two now, for sure, because it’s because of what it took mentally to get there.” © 2024 The Canadian Press Source link