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WestJet unveils plan to return Boeing 737 Max to service – Yahoo Canada Finance

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The Canadian Press

Warnock makes history with Senate win as Dems near majority

ATLANTA — Democrat Raphael Warnock won one of Georgia’s two Senate runoffs Wednesday, becoming the first Black senator in his state’s history and putting the Senate majority within the party’s reach.A pastor who spent the past 15 years leading the Atlanta church where Martin Luther King Jr. preached, Warnock defeated Republican incumbent Kelly Loeffler. It was a stinging rebuke of outgoing President Donald Trump, who made one of his final trips in office to Georgia to rally his loyal base behind the state’s Republican candidates.In an emotional address early Wednesday, he vowed to work for all Georgians whether they voted for him or not, citing his personal experience with the American dream. His mother, he said, used to pick “somebody else’s cotton” as a teenager.“The other day, because this is America, the 82-year-old hands that used to pick somebody else’s cotton picked her youngest son to be a United States senator,” he said. “Tonight, we proved with hope, hard work and the people by our side, anything is possible.”His victory marks a “reversal of the old southern strategy that sought to divide people,” Warnock told ABC’s “Good Morning America.”The focus now shifts to the other race between Republican David Perdue and Democrat Jon Ossoff.Ossoff held a small lead as of early Wednesday afternoon, though it was too early to call the race. Under Georgia law, a trailing candidate may request a recount when the margin of an election is less than or equal to 0.5 percentage points.If Ossoff wins, Democrats will have complete control of Congress, strengthening President-elect Joe Biden’s standing as he prepares to take office on Jan. 20. A Democratic sweep would also make it more difficult for Republicans to block Biden’s ambitious progressive agenda, along with his Cabinet picks and judicial nominations.This week’s elections mark the formal finale to the turbulent 2020 election season more than two months after the rest of the nation finished voting. The unusually high stakes transformed Georgia, once a solidly Republican state, into one of the nation’s premier battlegrounds for the final days of Trump’s presidency — and likely beyond.Warnock’s victory is a symbol of a striking shift in Georgia’s politics as the swelling number of diverse, college-educated voters flex their power in the heart of the Deep South. It follows Biden’s victory in November, when he became the first Democratic presidential candidate to carry the state since 1992.The Associated Press declared Warnock the winner after an analysis of outstanding votes showed there was no way for Loeffler to catch up. Warnock’s edge is likely to grow as more ballots are counted, many of which were in Democratic-leaning areas.Loeffler refused to concede in a brief message to supporters shortly after midnight.“We’ve got some work to do here. This is a game of inches. We’re going to win this election,” insisted Loeffler, a 50-year-old former businesswoman who was appointed to the Senate less than a year ago by the state’s governor.Loeffler, who remains a Georgia senator until the results of Tuesday’s election are finalized, returned to Washington on Wednesday morning to join a small group of senators planning to challenge Congress’ vote to certify Biden’s victory.Georgia’s other runoff election pitted Perdue, a 71-year-old former business executive who held his Senate seat until his term expired on Sunday, against Ossoff, a former congressional aide and journalist. At just 33 years old, Ossoff would be the Senate’s youngest member.“This campaign has been about health and jobs and justice for the people of this state — for all the people of this state,” Ossoff said in a speech broadcast on social media Wednesday morning. “Whether you were for me, or against me, I’ll be for you in the U.S. Senate. I will serve all the people of the state.”Trump’s false claims of voter fraud cast a dark shadow over the runoff elections, which were held only because no candidate hit the 50% threshold in the general election. He raised the prospect of voter fraud as votes were being cast and likened the Republicans who run Georgia’s election system to “chickens with their heads cut off” during a Wednesday rally in Washington.Gabriel Sterling, a top official with the Georgia secretary of state’s office and a Republican, said there was “no evidence of any irregularities.””The biggest thing we’ve seen is from the president’s fertile mind of finding fraud where none exists,” he said.Both contests tested whether the political coalition that fueled Biden’s November victory was an anti-Trump anomaly or part of a new electoral landscape. To win in Tuesday’s elections — and in the future — Democrats needed strong African American support.AP VoteCast, a survey of more than 3,700 voters in Tuesday’s contests, found that Black voters made up roughly 30% of the electorate, and almost all of them — 94% — backed Ossoff and Warnock. The Democrats also relied on the backing of younger voters, people earning less than $50,000 annually and newcomers to the state.The Republican coalition backing Loeffler and Perdue was the mirror opposite: white, older, wealthier and longtime Georgia residents.The coalition closely resembles the one that narrowly handed Georgia’s Electoral College votes to Biden in November, making him the first Democratic presidential candidate to win the state in almost three decades.Trump’s claims about voter fraud in the 2020 election, while meritless, resonated with Republican voters in Georgia. About 7 in 10 agreed with his false assertion that Biden was not the legitimately elected president, AP VoteCast found.Election officials across the country, including the Republican governors in Arizona and Georgia, as well as Trump’s former attorney general, William Barr, have confirmed that there was no widespread fraud in the November election. Nearly all the legal challenges from Trump and his allies have been dismissed by judges, including two tossed by the Supreme Court, where three Trump-nominated justices preside.Even with Trump’s claims, voters in both parties were drawn to the polls because of the high stakes. AP VoteCast found that 6 in 10 Georgia voters say Senate party control was the most important factor in their vote.Turnout exceeded both sides’ expectations. Ultimately, more people cast ballots in the runoffs than voted in Georgia’s 2016 presidential election.Former President Barack Obama, the nation’s first Black president, issued a statement praising the election of Georgia’s first African American senator and his ability to improve divisions in Washington.“Georgia’s first Black senator will make the (Senate) chamber more reflective of our country as a whole and open the door for a Congress that can forego gridlock for gridlock’s sake to focus instead on the many crises facing our nation,” Obama said.On the ground in Georgia, meanwhile, many in the state’s large African American community were ecstatic when they awoke to news of Warnock’s win on Wednesday. Tracey Bailey, a 58-year-old assistant community manager at an apartment complex in downtown Atlanta, said she jumped for joy.“It’s going to be great for Georgia, and it’s going to be great for our Black community as a whole,” she said. “I think he’s going to be a fair guy for the people, and that’s for all people.”___Peoples reported from New York. Bynum reported from Savannah, Ga. Associated Press writers Haleluya Hadero, Angie Wang, Sophia Tulp, Ben Nadler and Kate Brumback in Atlanta contributed to this report.Steve Peoples, Bill Barrow And Russ Bynum, The Associated Press

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Calgary breaks all-time record in housing starts but increasing demand keeps inventory low – CBC.ca

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Soaring housing demands in Calgary led to an all-time record for new residential builds last year, but inventory levels of completed and unsold units remained low due to demand outpacing supply.

According to the latest report from Canada Mortgage and Housing Corporation (CMHC), total housing starts increased by 13 per cent in Calgary, reaching a total of 19,579 units with growth across all dwelling types in the city.

That compares to a decline of 0.5 per cent overall for housing starts in the six major Canadian cities surveyed by CMHC.

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Calgary also had the highest housing starts by population.

“Part of the reason why we think that might have happened is that developers are responding to low vacancies in the rental market,” said Adebola Omosola, a housing economics specialist with CMHC.

“The population of Calgary is still growing, a record number of people moved here last year, and we still expect that to remain at least in the short term.”

Earlier this year, the Calgary Real Estate Board also predicted that demand, especially for rental apartments, wouldn’t let up any time soon. 

Industry can cope with demand, expert says

According to numbers from the report, average construction times were higher in 2023 for all dwelling types except for apartments.

The agency’s report suggests the increase in the number of under-construction residential projects might mean builders are operating at or near full capacity.

However, there’s optimism the construction industry can match the increasing need.

Brian Hahn, CEO of BILD Calgary Region, said despite concerns around about construction costs, project timelines and labour shortages, the industry has kept up with the demand for new builds.

Demand is expected to remain robust, but the construction industry can keep up, according to BILD Calgary region CEO Brian Hahn.
Demand is expected to remain robust, but the construction industry can keep up, according to BILD Calgary Region chief executive officer Brian Hahn. (Shaun Best/Reuters)

“I’ve heard that kind of conversation at the end of 2022 and I heard it in 2023,” Hahn said.

“Yet here we are early in 2024, and January and February were record numbers again.”

Hahn added he believes the current pace of construction will continue for at least the next six months and that the industry is looking at initiatives to attract more people to the trades.

Increase in row house and apartment construction

Construction growth was largely driven by new apartment projects, making up almost half of the housing starts in Calgary in 2023.

The federal housing agency says 9,034 apartment units were started that year, an increase of 17 per cent from the previous year. Of those, about 54 per cent were purpose-built rentals.

Apartments made up around two-thirds of all units under construction, CMHC said, with the total number of units under construction reaching 23,473.

Growth, however, was seen across all dwelling types. Row homes increased by 34 per cent from the previous year while groundbreaking on single-detached homes grew by two per cent.

“Notwithstanding challenges, our members and the industry counterparts that support them managed to produce a record amount of starts and completions,” Hahn said.

“I have little doubt that the industry will do their very best to keep pace at those levels.”

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Ottawa real estate: House starts down, apartments up in 2023 – CTV News Ottawa

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Rental housing dominated construction in Ottawa last year, according to a new report from the Canada Mortgage and Housing Corporation (CMHC).

Residential construction declined significantly in 2023, with housing starts dropping to 9,245 units, a 19.5 per cent decline from the record high observed in 2022. But while single-detached and row housing starts fell compared to 2022, new construction for rental units and condominiums rose.

“There’s been a shift toward rental construction over the past two years. Rental housing starts made up nearly one third of total starts in 2023, close to double the average of the previous five years,” the report stated.

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Apartment starts reached their highest level since the 1970s.

“The trend toward rental and condominium apartment construction follows increased demand in these market segments due to population growth, households looking for affordable options, and some seniors downsizing to smaller units,” the CMHC said.

Demand from international migration and students, the high cost of home ownership, and people moving to Ottawa from other parts of Ontario were the main drivers for rental housing starts in 2023. The CMHC says rental and condominium apartment starts made up 63 per cent of total starts in 2023, compared to the average of 37 per cent for the period 2018-2022.

There was a modest increase in rental housing starts in 2023 over the record-high seen the year prior and a jump in new condominiums. The report shows 5,846 new apartments were built in Ottawa last year, up 2.1 per cent compared to 2022.

Housing starts in Ottawa by year. (CMHC)

Big demand for condos

The CMHC said condo starts reached a new high in 2023, increasing 3 per cent from 2022 numbers.

“As of the end of 2023, there were only 13 completed and unsold condominium units, highlighting continued demand for new units,” the CMHC said.

Condominum starts increased in areas such as Chinatown, Hintonburg, Vanier and Alta Vista, as well as some suburban areas like Kanata, Stittsville, and western Orléans. Condo apartment construction declined in denser parts of the city like downtown, Lowertown and Centretown, the report says.

Taller buildings are also becoming more common, as the cranes dotting the skyline can attest. The CMHC notes that buildings with more than 20 storeys accounted for nearly 10 per cent of apartment structure starts in 2022 and 2023, compared to an average of 2 per cent over the 2017-2021 period. The number of units per building also rose 7 per cent compared to 2022.

Apartment building heights in Ottawa by year. (CMHC)

Single-detached home construction down significantly

The number of new single-detached homes built in Ottawa last year was the lowest level seen in the city since the mid 1990s, CMHC said.

“The Ottawa area experienced a slowdown in residential construction in 2023, driven by a significant decline in single-detached and row housing starts,” the CMHC said.

Single-detached housing starts were down 45 per cent compared to 2022. Row house starts dropped by 38 per cent compared to 2022, marking a third year of declines in a row.

“Demand for single-detached and row houses also declined in 2023. Higher mortgage rates and home prices have led to a shift in demand toward more affordable rental and condominium units,” the report said.

There were 1,535 single-detached housing starts in Ottawa last year, 208 new semi-detached homes and 1,678 new row houses.

The majority of single-detached and row housing starts were built in suburban communities such as Barrhaven, Stittsville, Kanata, Orléans and rural parts of the city.

“Increased construction costs resulting from higher financing rates and inflation that occurred in 2022 and 2023 contributed to the decline in construction in the region,” the CMHC said. 

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Trump’s media company ticker leads to fleeting windfall for some investors

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A man looks at a screen that displays trading information about shares of Truth Social and Trump Media & Technology Group, outside the Nasdaq Market site in New York City, U.S., March 26.Brendan McDermid/Reuters

Possible confusion over the new stock symbol for former President Donald Trump’s Truth Social (DJT-Q) saw some investor brokerage balances briefly jump by hundreds of thousands of dollars on Tuesday, the first day Trump’s “DJT” ticker traded.

Several people complained on social media about briefly seeing the value of their DJT stock holdings on Charles Schwab platforms inflated to figures more in line with what they would be worth if the shares traded at the level of the Dow Jones Transportation Average.

Some users said they faced a similar issue in pre-market hours on Morgan Stanley’s E*Trade trading platform.

Shares of Trump Media & Technology Group opened Tuesday at $70.90, while the Dow Jones Transportation Average started the session at 15,937.73 points.

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For one trader, the Schwab brokerage balance jumped by more than $1 million due to the error, according to a screen grab shared on social media platform X. Reuters was unable to contact the trader or independently verify the brokerage balance.

“It sure was nice seeing millions in the account, even if it wasn’t real,” another person, going by the username @DanielBenjamin8, who faced the issue in his E*Trade account, posted on X.

Two X users and one on Reddit surmised that the inflated balances were due to the ticker symbol for the company being nearly identical to the index.

A spokeswoman for Charles Schwab said that certain users on some of Schwab’s trading platforms saw their brokerage balances briefly inflated due to a technical issue.

The issue has been resolved and investors are able to trade equities and options on Schwab platforms, she said. Schwab declined to describe the exact cause of the issue.

E*Trade did not immediately respond to a request for comment outside of regular business hours.

Trump Media & Technology Group and S&P Dow Jones Indices, which maintains the Dow Jones Transportation Average Index, did not immediately comment on the issue.

While social media users said the issue appeared to have been resolved, many rued not being able to cash out their supposed gains from the error.

“I better go tell my boss that I’m actually not retiring,” the trader whose account balance had briefly jump by more than $1 million, wrote on X.

Trump Media & Technology Group shares surged more than 36% on Tuesday in their debut on the Nasdaq that comes more than two years since its merger with a blank-check firm was announced.

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