Air Canada Strike Halts Hundreds of Flights
The carrier started Thursday to ground operations in anticipation of a labor disruption and said early Saturday that it has suspended all operations. Even with an agreement in the coming days, the Montreal-based airline said it would take at least a week to return to full operations.
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Yahoo
19 minutes ago
- Yahoo
Big changes could mark a housing market 'sweet spot' this fall — are you ready to take advantage of them?
Maybe you were planning to buy a house this year but haven't found anything yet — and panic is starting to set in because you're worried you've missed the housing market season. It's common you'll find a higher number of listed properties in late spring and summer. That means, if you're in the market for a new home, you have more options to choose from, but you also face stiffer competition. Traditionally, fall and winter are quieter, but if you find a place you like, you may be able to get a better deal on it. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Shop Top Mortgage Rates Your Path to Homeownership A quicker path to financial freedom Personalized rates in minutes Potential homebuyers, however, may be able to take some comfort from the picture being painted by recent data that suggests this fall may be a great time to buy a new home. 'There's a lot of uncertainty out there, and some buyers are just waiting to see what happens,' Zillow senior economist Kara Ng said in an article published July 20. 'So, if you're able to buy, fall could be a sweet spot since you won't be competing against the pool of buyers waiting on the sidelines.' US housing inventory at a multiyear high One of the main reasons this fall is shaping up to be a good one for homebuyers is that, according to Zillow data, the inventory of homes for sale is the highest it's been since July 2020, with the number of listed homes up 20% from last year. At the same time, for the past two years, October has seen the highest inventory of the year as homes listed earlier remain unsold. Zillow anticipates this seasonal pattern will repeat this year after a 'lackluster spring' during which buyers didn't show up. A fall with high inventory and fewer buyers means that if you're in the market for a new home, 'you're likely to have more time to decide on your options,' Ng said. 'You have time to really consider if that home is the right fit for you.' With fewer buyers, you're also less likely to endure a bidding war for the home you want and you may have more negotiating power. Some sellers are lowering prices In some markets, prices aren't rising as quickly as they have been over the past few years. Home values across the U.S. grew by 45.3% between February 2020 to 2025, Zillow reported earlier this year — a rate that's more than double the historic rate of increase. As of July, the median sale price for all home types was $443,462, according to Redfin. But the market is cooling, and Zillow is predicting 'a decline of 1.4% in home values nationally by the end of the year.' Read more: Nervous about the stock market? Gain potential quarterly income through this $1B private real estate fund — even if you're not a millionaire. At the same time, 'the share of listings with a price cut in May climbed to 26%, and many sellers are sweetening deals with concessions such as covering closing costs or buying down mortgage interest rates for the first one to three years,' according to Zillow. These pricing dynamics could be a sign that the market is becoming more balanced in a way that 'favors buyers and sellers equally.' While Danielle Hale, chief economist at agrees that we're heading toward a more balanced market, she points out that this varies regionally and that affordability still remains an issue. 'Even with more homes on the market, buyer response has remained muted compared to what we'd expect from similar supply shifts in the past,' she said in a news release, commenting on mid-year housing forecast update. 'In regions like the South and West, inventory gains have been more substantial, but affordability constraints continue to weigh on demand,' she said. 'Meanwhile, the Northeast and Midwest remain tighter markets with relatively steadier buyer activity.' Are you ready to take advantage of a buyer's market? Whether you should take advantage of an improved buyer's market depends on your personal circumstances. If you're a first-time homebuyer, the Consumer Financial Protection Bureau suggests you have at least two years of reliable, regular, steady income, as well as good credit. Ramsey Solutions, which offers personal finance education, recommends you first pay off all your other debts and build an emergency fund with three to six months' worth of expenses. From there, you'll need to save up a down payment — preferably 20% or more so you don't have to pay mortgage insurance. You'll also need to budget in closing costs and have funds available for moving expenses. Before you start searching for houses, be sure you can afford all of your monthly housing costs, including your mortgage, property taxes, homeowners insurance and (potentially) homeowners association fees — all of which shouldn't total more than 25% of your take-home pay, according to Ramsey Solutions. Another consideration from Ramsey Solutions? How long you plan to live there. That's because 'it usually takes at least five years for a home's value to grow enough to keep you from losing money when you resell it.' If you can satisfy these requirements and still feel you're ready for homeownership, you may be looking at a market more friendly to buyers than the U.S. has seen in a long time. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 minutes ago
- Yahoo
Jobs Minister Patty Hajdu to provide update on Air Canada labour dispute
OTTAWA — Jobs Minister Patty Hajdu is holding a news conference on Parliament Hill today to provide Canadians with an update on the Air Canada strike. Passengers around the world are feeling the effects after the union representing more than 10,000 flight attendants with Air Canada announced its members were walking off the job after it was unable to reach an eleventh-hour deal with the airline. The strike officially began just before 1 a.m. ET on Saturday and in turn, Air Canada locked out its agents about 30 minutes later due to the strike action. On Friday Hajdu urged the airline company and the union representing its flight attendants to get back to the negotiating table. In an interview with The Canadian Press, Hajdu said it's 'critical' that the two parties 'return to the table' to forge a deal on their own. Air Canada and business advocacy groups have called on the government to order binding arbitration to settle the dispute. - With files from Sammy Hudes in Toronto This report by The Canadian Press was first published Aug. 16, 2025. Kyle Duggan, The Canadian Press Sign in to access your portfolio
Chicago Tribune
20 minutes ago
- Chicago Tribune
Air Canada suspends operations as flight attendants go on strike
TORONTO — Air Canada suspended operations as more than 10,000 Air Canada flight attendants went on strike early Saturday after a deadline to reach a deal passed, leaving travelers around the world stranded and scrambling during the peak summer travel season. Canadian Union of Public Employees spokesman Hugh Pouliot confirmed the strike had started after no deal was reached, and the airline said it halted operations. A bitter contract fight between Canada's largest airline and the union representing 10,000 of its flight attendants escalated Friday as the union turned down the airline's request to enter into government-directed arbitration, which would eliminate its right to strike and allow a third-party mediator to decide the terms of a new contract. A complete shutdown will impact about 130,000 people a day, and some 25,000 Canadians may be stranded abroad daily. Air Canada operates around 700 flights per day. Keelin Pringnitz, from Ottawa, was returning with her family from a European vacation when they became stranded at London's Heathrow Airport after flights were canceled. She said there was an option for the travelers in line to go the United States, but they were told there wouldn't be any further assistance once they landed in the U.S. 'It didn't go over well with the line. Nobody really seemed interested, everybody seemed a little bit amused almost at the suggestion, or exasperated, because it is a bit ridiculous to offer to take stranded passengers to a different country to strand them there,' she said. Montreal resident Alex Laroche, 21, and his girlfriend had been saving since Christmas for their European vacation. Now their $8,000 trip with nonrefundable lodging is in doubt. They had a Saturday night flight to Nice, France, booked. Air Canada Chief Operating Officer Mark Nasr has said it could take up to a week to fully restart operations once a tentative deal is reached. Flight attendants walked off the job around 1 a.m. EDT on Saturday. Around the same time, Air Canada said it would begin locking flight attendants out of airports. Federal Jobs Minister Patty Hajdu met with both the airline and union late Friday and urged them to work harder to reach a deal 'once and for all.' 'It is unacceptable that such little progress has been made. Canadians are counting on both parties to put forward their best efforts,' Hajdu said in a statement posted on social media. Ian Lee, associate professor, Carleton University's Sprott School of Business, said he expects the government to intervene within five days if the strike is not settled quickly, noting the government repeatedly does so in transportation strikes. 'They will intervene to bring the strike to an end. Why? Because it has happened 45 times from 1950 until now,' Lee said. 'It is all because of the incredible dependency of Canadians.' Canada is the second-largest country in the world and flying is often the only viable option. 'We're so huge a country and it's so disruptive when there is a strike of any kind in transportation,' Lee said. The government forced the country's two major railroads into arbitration with their labor union last year during a work stoppage. The union for the rail workers is suing, arguing the government is removing a union's leverage in negotiations. The Business Council of Canada has urged the government to impose binding arbitration in this case, too. Passengers whose travel is impacted will be eligible to request a full refund on the airline's website or mobile app, according to Air Canada. The airline said it would also offer alternative travel options through other Canadian and foreign airlines when possible. But it warned that it could not guarantee immediate rebooking because flights on other airlines are already full 'due to the summer travel peak.' Laroche said he considered booking new flights with a different carrier, but he said most of them are nearly full and cost more than double the $3,000 they paid for their original tickets. Laroche said he was initially upset over the union's decision to go on strike, but that he had a change of heart after reading about the key issues at the center of the contract negotiations, including the issue of wages. 'Their wage is barely livable,' Laroche said. Air Canada and the Canadian Union of Public Employees have been in contract talks for about eight months, but they have yet to reach a tentative deal. Both sides say they remain far apart on the issue of pay and the unpaid work flight attendants do when planes aren't in the air. 'We are heartbroken for our passengers. Nobody wants to see Canadians stranded or anxious about their travel plans but we cannot work for free,' said Natasha Stea, a Air Canada flight attendant and local union president. The attendants are about 70% women. Stea said Air Canada pilots, who are male dominated, received a significant raise last year and questioned whether they are getting fair treatment. The airline's latest offer included a 38% increase in total compensation, including benefits and pensions over four years, that it said 'would have made our flight attendants the best compensated in Canada.' But the union pushed back, saying the proposed 8% raise in the first year didn't go far enough because of inflation. 'We're the national carrier and we have people operating in poverty. Like that's disgusting, that's very problematic,' Wesley Lesosky, President of the Air Canada Component of CUPE, said at a news conference.
