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More than half of GTA condo investors losing money on properties: report

Published Mon, 23 Dec 2024 16:53:33 GMT

TORONTO — Last year marked the first time that more than half of investors in newly-completed Greater Toronto Area condos were losing money on their rental properties, and authors of the report that reached that conclusion expect the trend to persist. The research from the Canadian Imperial Bank of Commerce and real estate research firm Urbanation found 48 per cent of leveraged condo investors who bought pre-construction units to rent out were cash flow positive in 2022.For the majority of investors, rent generated by newly-completed units was lower than mortgage costs, condo fees and property taxes.“This marks a meaningful shift that may potentially signal that a change in investor behaviour is on the horizon,” CIBC’s Benjamin Tal and Urbanation’s Shaun Hildebrand said in their report released Monday.They say they expect the shift toward negative cash flow to worsen in the years ahead as increasingly expensive new condos presold to investors in the past few ...

Poland imposes sanctions on 365 Belarusians over ‘draconian’ verdict against journalist

Published Mon, 23 Dec 2024 16:53:33 GMT

WARSAW, Poland (AP) — Poland imposed sanctions Monday on 365 Belarusian citizens and froze the financial assets of 20 entities and 16 other people associated with Russian capital in reaction to what it condemned as a “draconian” verdict against a journalist. Under the sanctions announced by Poland’s Interior Ministry, the 365 Belarusians will be barred from entering the Schengen area, an area of visa-free travel in Europe. The group includes lawmakers, judges, prosecutors, members of state media, athletes and people working for state enterprises.The move is the latest development amid a tense relationship between Poland, a member of NATO and the European Union, and Belarus, a country on its northeastern border that is allied with Russia and led by an authoritarian president, Alexander Lukashenko, who has held power since 1994.“These people promoted the Belarusian regime and were also involved in legitimizing and supporting the repressive policy of the authorities in Minsk. The...

Kosovo Serbs clash with NAT0-led peacekeepers outside municipal building

Published Mon, 23 Dec 2024 16:53:33 GMT

ZVECAN, Kosovo (AP) — Ethnic Serbs in northern Kosovo clashed with troops from the NATO-led KFOR peacekeeping force as they tried to take over the offices of one of the municipalities where ethnic Albanian mayors took up their posts last week, with the help of the authorities. The Serbs started clashing with the police in the morning in the municipality of Zvecan, 45 kilometers (28 miles) north of the capital, Pristina. In the afternoon, KFOR soldiers called on Serbs to clear the way for two vehicles from the Kosovar special police forces. The soldiers then used tear gas and stun grenades to protect the Kosovar officers in the vehicles and disperse protesters, according to witnesses and local media. The assembled Serbs responded by throwing rocks and other hard objects. One vehicles was burned, but there is no confirmation of any injured person yet.Earlier, journalists were sent into the public building for their own safety. The violence was the latest incident as tensions soared ov...

With elections in Mexico’s most populous state, old ruling party may be nearing its end

Published Mon, 23 Dec 2024 16:53:33 GMT

ECATEPEC, Mexico (AP) — Mexico’s former ruling party could face near-extinction in Sunday’s governorship election in the State of Mexico, the largest of Mexico’s 32 states and the last large one governed by the old Institutional Revolutionary Party, the PRI.The race could also mark a high point for President Andrés Manuel López Obrador’s Morena party, which has imitated — and largely replaced — the old PRI across the rest of Mexico. Nearly five years into his single six-year term, López Obrador remains highly popular.Polls suggest Morena could win by a wide margin in the State of Mexico, a contest seen by many as a preview of next year’s presidential elections, in which the party is also seen as the favorite. While the PRI might still hold on to the sparsely populated northern state of Coahuila, which is also electing a new governor Sunday, the loss of Mexico State — a mix of suburbs, slums and agricultural communities that surrounds Mexico City on three sides — would pr...

What 5 more years of Erdogan’s rule means for Turkey

Published Mon, 23 Dec 2024 16:53:33 GMT

ISTANBUL (AP) — Turkish President Recep Tayyip Erdogan won reelection in a runoff Sunday, following a nail-biter first round two weeks earlier. Having secured another five years, Erdogan now faces a host of domestic challenges in a deeply divided country, from a battered economy to pressure for the repatriation of Syrian refugees to the need to rebuild after a devastating earthquake.Here’s a look at the challenges ahead.ECONOMY: HOW MUCH LONGER CAN ERDOGAN’S UNORTHODOX POLICIES BE SUSTAINED?Inflation in Turkey hit a staggering 85% in October before easing to 44% last month — although independent experts think the latest figure still masks how severe the cost-of-living crisis is in a country where people are having trouble paying skyrocketing rents and buying basic goods.Critics blame the crisis on Erdogan’s policy of keeping interest rates low to promote growth. Economists generally recommend raising rates to combat inflation.Despite a faltering economy, Erdogan won the electi...

Fox Lake police fatally shoot knife-wielding man who lunged at officers: authorities

Published Mon, 23 Dec 2024 16:53:33 GMT

FOX LAKE, Ill. — A knife-wielding man was fatally shot by Fox Lake police officers during a confrontation Sunday night.According to police, officers arrived at a residence in the 0-100 block of Howard Avenue around 11:10 p.m. to arrest a 47-year-old man of Wauconda.Upon arrival, a victim told police the 47-year-old damaged a vehicle and threw a golf club at the victim at a nearby residence. The victim stated they wanted to press charges against the man.Police said two officers located the 47-year-old at an acquittance's home in the 0-100 block of Howard Avenue. When officers announced to the man he was under arrest, he pulled a knife out of his pocket and pointed it towards officers, according to police.Two officers instructed the man to drop the knife but instead, the man lunged towards one of the officers with the knife drawn, police said. Two 2-years-olds among 47 shot across Chicago over holiday weekend Both officers shot toward the man, striking him. He was pronounced dead on...

Man using Snapchat to lure, assault women in South Shore, CPD warns

Published Mon, 23 Dec 2024 16:53:33 GMT

CHICAGO — Chicago police are warning the public about a man wanted for criminal sexual assault after using Snapchat to lure and attack women. Four cases have been reported over the last month, with the latest incident occurring early Saturday morning. Father found Naperville Snapchat predator hiding in daughter’s closet, police say According to police, most incidents occurred in the 1900 block of E. 73rd Place in Chicago's South Shore neighborhood. One incident was reported in the 7400 block of S. Euclid.  The incident and times include:7400 Block of S. Euclid on March 21 between the hours of 2 a.m. and 3 a.m.1900 Block of E. 73rd Place on May 8 at 12:15 a.m.1900 Block of E. 73rd Place on May 21 at 8 a.m.1900 Block of E. 73rd Place on May 27 at 3 a.m.Police say the suspect is posing as a woman on Snapchat. After befriending the victims, the women are sexually assaulted an...

The List: What I've learned in 20 years, according to Lauren Jiggetts

Published Mon, 23 Dec 2024 16:53:33 GMT

WGN Morning News Anchor Lauren Jiggetts shares her list of things she's learned in the past 20 years.Love the WGN Morning News? We love you, too. And you can have all the hijinks delivered to your inbox every weekday morning. Sign up and subscribe to our WGN Morning News newsletter.

Midwest primed to be next frontier for invasive plant kudzu

Published Mon, 23 Dec 2024 16:53:33 GMT

GRAND RAPIDS, Mich. (WOOD) — One of the country’s most notorious invasive plants is expected to become a major pest throughout the Midwest.A study published earlier this year by researchers at Purdue University-Fort Wayne identified the Great Lakes as the next frontier for kudzu.Kudzu is a hearty vine that was first brought to the United States from Asia as an ornamental plant and was eventually used for erosion control. In addition to its meaty vines, kudzu produces large, fragrant purple flowers and brown, hairy seed pods. It quickly grew out of control and was removed from the list of acceptable species in the Agricultural Conservation Program. By 1998, Congress listed it as a “noxious weed” and it is now commonly known as “the vine that ate the South.” NOAA releases summer weather predictions for all 50 states Jordan Marshall, a professor of plant biology at Purdue University-Fort Wayne and lead researcher on the kudzu study, said speed is the plant's primary weapon.“It grows ...

Why is Memorial Day in the spring?

Published Mon, 23 Dec 2024 16:53:33 GMT

(NEXSTAR) — Though Memorial Day may seem randomly placed on the calendar, there's a reason it always falls on the last Monday of May.To understand, you need to go back roughly 155 years. It was 1868, three years after the Civil War had ended. Major General John A. Logan, the leader of the Grand Army of the Republic (an organization of Union veterans), declared that May 30 should serve as Decoration Day. On that day, Logan wanted Americans to place flowers on the graves of the war dead, according to the U.S. Department of Veterans Affairs. Falling far enough into the spring, the hope was that flowers would be in bloom nationwide. Records show the first large observance of Decoration Day was held at Arlington National Cemetery that year. Flowers were spread on the graves of Union and Confederate soldiers alike, and Logan's order for his post called for graves to be decorated “with the choicest flowers ofspringtime." The most popular college majors aren’t the highest-paying – t...