Toronto’s Cooling Housing Market: Here’s What We’re Reading Today

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Here’s what we’re reading today.

1. Toronto housing market feels chill from provincial measures

“Toronto’s overheated housing market has cooled rapidly since the Ontario government announced a suite of new housing measures in April, with average prices dropping 6 per cent in May while the number of homes sold fell by 12 per cent during the month.

“The average sale price for all home types in the Greater Toronto Area was $863,910 in May, a drop of 6.2 per cent from $920,791 in April, according to sales data from the Toronto Real Estate Board. The price was still up 15 per cent compared to May, 2016, however, because of large price gains earlier this year.”

The Globe and Mail

2. Persian Gulf plunged into chaos as five states cut ties with Qatar

“The Gulf has been hit by its biggest diplomatic crisis in years after Arab nations including Saudi Arabia, the United Arab Emirates, Egypt and Bahrain cut ties with Qatar, accusing it of destabilising the region with its support for Islamist groups.

“The countries said they would halt all land, air and sea traffic with Qatar, eject its diplomats and order Qatari citizens to leave the Gulf states within 14 days. Shoppers in the Qatari capital, Doha, meanwhile packed supermarkets amid fears the country, which relies on imports from its neighbours, would face food shortages after Saudi Arabia closed its sole land border.”

The Guardian

3. White House: Trump will not try to stop James Comey testimony

“‘The president’s power to assert executive privilege is well established,’ Sanders told reporters during the daily press briefing. ‘However, in order to facilitate a swift and thorough examination of the facts sought by the Senate Intelligence Committee, President Trump will not assert executive privilege regarding James Comey’s scheduled testimony.'”

Washington Post

+1: Trump’s tweets may have sunk his travel ban – The Atlantic

4. Refugee who lost his fingers to frostbite crossing into Canada, attends his first Pride parade

“Staring at the sea of rainbow colours that blanketed Winnipeg Sunday morning, Seidu Mohammed was in awe.

“‘It’s so so beautiful,’ a smiling Mohammed said, looking at floats in the Winnipeg Pride Parade.”

CBC News

5. Memelord and Oculus Rift founder, Palmer Luckey plots his comeback with virtual border wall

“Unburdened by a big company’s culture, he’s more freely sharing his politics on social media. He also contributed $100,000 to Mr. Trump’s inauguration, through one of his companies, according to Federal Election Commission records.

“And he has a new start-up in the works, a company that is developing surveillance technology that could be deployed on borders between countries and around military bases, according to three people familiar with the plan who asked for anonymity because it’s still confidential.”

New York Times