Home prices across the Greater Toronto Area continued to drop in July as buyers stayed on the sidelines and owners played the waiting game for a better time to sell.Fred Lum/The Globe and Mail
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WHAT YOU NEED TO KNOW
Toronto home sales drop, new listings slow as sellers retreat
Home prices across the Greater Toronto Area continued to drop in July as buyers stayed on the sidelines and owners played the waiting game for a better time to sell. The average sale price of all types of homes in the GTA hit $746,218 in July, a 19-per-cent fall from the market's peak in April. "There's nothing positive – there are no really great signs out there," said John Pasalis, president of Realosophy Realty Inc. Governments across Canada have taken steps over the past year to cool the housing market. The Globe's real estate reporter Janet McFarland reports on the aftermath in Vancouver and Toronto and what's ahead for the country's frothy market.
Mueller impanels grand jury, ramping up Trump-Russia probe
In an apparent sign that Robert Mueller's investigation is escalating, the special counsel has convened a grand jury. Mr. Mueller has been tasked with determining if collusion occurred between U.S. President Donald Trump's team and Russia during the 2016 U.S. election campaign. If you've gotten lost with all of the Trump-related investigations, we have a guide to what they mean.
First Nations people three times more likely to die of overdoses in B.C.
A new report provides the first look at how the overdose crisis is affecting Indigenous communities and the results are stark, with First Nations people being five times more likely to experience a drug overdose – and three times more likely to die from one – than non-First Nations people. The study paints a clearer picture of the scope of the public-health emergency that the province is facing.
Meanwhile, Toronto has outlined an opioid plan as the city struggles with its own spike in suspected opioid-related deaths.
Siemens 'not in a hurry' to strike rail deal with Bombardier, CEO says
German train maker Siemens AG says it is "not in a hurry" to combine rail businesses with Bombardier Inc., cooling expectations of a merger between the two companies that would take on Chinese giant CRRC Corp. Siemens CEO Josef Kaeser's comments come about a week after Bombardier chief executive Alain Bellemare said the Canadian transportation company was looking at "multiple" strategic options for its rail unit.
MARKET WATCH
Canada's main stock index fell on Thursday, pushed down by a drop in oil prices. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 0.48 per cent at 15,191.96. Oil prices were down as high output from OPEC offset record U.S. demand.
How to make the right choices when investing in REITs
"Real estate investment trusts should be an integral part of every income investor's portfolio. They offer steady income, relative safety, and tax advantages if held outside a registered plan. The question is, how should you hold them?" — Gordon Pape (for subscribers)
WHAT'S TRENDING
"Canada is no problem – do not worry about Canada, do not even think about them. That is a separate thing and they are fine and we have had a very fair relationship with Canada," U.S. President Donald Trump told Mexican President Enrique Peña Nieto on the phone in January, leaked transcripts show.
"When he looks back on this, and this was his last opportunity to beat Bolt, that's probably going to be the thing that haunts him the most," says Andre De Grasse's coach. The 22-year-old had to withdraw from the world athletics championships because of an injury, missing his chance to beat Usain Bolt in his final 100-metre race.
WHAT EVERYONE'S TALKING ABOUT
Solo living is the new norm. Let's learn to live with it
"Inevitably, when there's a social change of this magnitude, some political officials and cultural critics will believe that what's new is a problem and propose ways to reverse the trend. But when it comes to going solo, this is a losing strategy. Instead of trying to persuade people to live together, we'd all be better off accepting that going solo is a new norm and doing whatever we can to make it a safer, healthier, and more social experience." — Eric Klineberg
Airline industry's 'calculated misery' shows an embrace of inequality
"The airline industry has gone from basket case to cash cow thanks to the twin strategies of consolidation and upcharging. Shareholders are having a blast. Passengers, not so much. Unless you pay extra to check your bags, choose your seats, cross your legs, exhale normally and otherwise not be made to feel like a lower life form, flying today is hell at 30,000 feet. Airlines like it that way." — Konrad Yakabuski
In Venezuela, the despotic Maduro has got to go
"The response from the international community, Canada included, will be critical. Push too hard on economic sanctions, and the result will only make things worse for the people of Venezuela. But to do nothing will achieve the same result." — Globe Editorial
LIVING BETTER
How can you focus on your mental health each day? A new acronym may help: PLAY. P: look for the positive. L: focus on living and enjoying each day. A: Take time to acknowledge what you have. Y: Give yourself permission to think about your mental well being by adopting a Yes mentality.
LONG READS FOR A LONG COMMUTE
The barriers of nativism and fear: Let's rethink the walls that divide us
When the Berlin Wall fell in 1989 many thought that the age of walls separating people would be coming to an end. But the past several years have seen a resurgence fuelled by nativism and fear. Charles Foran, the CEO of the Institute for Canadian Citizenship, explores the roots of our divisions, the dangers they present and how to move forward.
Why a 94-year-old war veteran started a podcast to save democracy
Harry Leslie Smith is deeply disturbed at how democracy has become endangered. He's convinced young people can be the planet's salvation – and he's reaching out to them one podcast at a time.
Evening Update is written by Kiran Rana, Mayaz Alam and Omair Quadri. If you'd like to receive this newsletter by e-mail every weekday evening, go here to sign up. If you have any feedback, send us a note.