Automobile Dealers Association remains ‘optimistic' as Stellantis delays Windsor auto production
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Huw Williams from Canadian Automobile Dealers Association says he is 'optimistic' about Stellantis' commitment in producing vehicle in Canada.
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- CTV News
Toronto housing among least affordable on this global index. Here's what experts say needs to change
A new global index suggests Toronto is among the world's worst cities when it comes to housing affordability — as experts blame decades of policy missteps, development delays, and overwhelming population demand for the problem. The 2025 Global Cities Index from Oxford Economics finds that as a result of Toronto's expensive real estate market, residents 'spend more of their income on housing than residents of nearly every other city in the world.' While the federal government recently promised to eliminate the GST on first-time home purchases under $1 million, critics argue that restrictive housing policies, costly development charges and sluggish approvals have created a market that's out of reach for most buyers. The average price of a home in the Toronto area did decline four per cent year-over-year in May but still stood at more than $1.1 million, according to the latest data from the Toronto Region Real Estate Board. 'Over the past 20 years Toronto's population has grown by 35 per cent but affordable housing hasn't kept up. The result? Life is getting too expensive for families,' Mayor Olivia Chow said during a press conference on Friday. 'Young people are giving up on the dream of home ownership.' The City of Toronto has a program where it will defer development fees for some projects so long as at least 20 per cent of its units are affordable. However, demand for the program has far exceeded the city's ability to fund it and as a result Chow says that there are projects totalling 300,000 new units from about 70 different developers that are 'shovel ready' and just 'sitting there in the pipeline' waiting for funding from other levels of government. In Toronto alone, development fees can add more than $100,000 to the cost of a new home and in some areas in the GTA development fees can easily double that, says Frank Clayton, Senior Research Fellow at Toronto Metropolitan University. Prime Minister Mark Carney has previously promised to help municipalities reduce those fees by 50 per cent through additional payments that could be distributed by the provinces though he has not provided a timeline for those investments. 'If a municipality takes $200,000 up front, developers got to increase their prices such that $200,000 is reflected ultimately in the price of the house,' Clayton said. 'Builders won't build, unless they can cover their costs.' Toronto housing A real estate sign is displayed on the front lawn of a house in Toronto, Ontario, Canada, on Thursday, May 11, 2017. Clayton identifies three key culprits behind Toronto's crisis: high fees, restrictive planning rules, and relentless demand — the latter driven in part by immigration. Last year alone, nearly 300,000 newcomers arrived in the region, fuelling further housing pressure. 'You need sites. You need sites that are zoned, and you need sites that are serviced,' Clayton said. 'The planning system is very unresponsive to changes in demand.' 'We have to act now' New home sales in the GTA hit a seventh consecutive month of record all-time lows in April, owing in part to a significant reduction in housing starts. Dave Wilkes, president and CEO of the Building Industry and Land Development Association (BILD), says time is running out to fix the system. 'We are seeing real market consequences. 80,000 people leave the GTA,' Wilkes said. 'The longer we wait, the longer that it's going to take to balance supply and demand.' Wilkes is calling for urgent action on housing taxes — especially the harmonized sales tax (HST) formula, which hasn't been revised since 1991. 'Making that change on HST today is the most immediate thing we could do,' Wilkes said. 'It would bring costs down by a dramatic 13 per cent for the first million dollars of a purchase.' He also warned that the federal government's plan to remove GST only for homes under $1 million misses the mark in high-cost cities like Toronto, where the average sale price sits well above that. 'Under a million is just not a product type that is available in the GTA,' he emphasized. Row of houses in Toronto Children ride bikes by a row of houses in Toronto on Tuesday July 12, 2022. THE CANADIAN PRESS/Cole Burston What is the market is lacking? Jason Mercer, Chief Information Officer for the Toronto Regional Real Estate Board, says affordability has technically improved — but warns that too little new construction could reverse that trend. 'Two years ago, a lot of households simply wouldn't have qualified,' Mercer said. 'Today, I would argue that a lot of those households could qualify, because prices have edged lower and interest rates have come down.' Still, Mercer says demand will eventually rebound, and if the city can't match it with supply, prices will climb again. 'We haven't done a good job keeping up with housing supply to meet that population growth,' he said. 'From a public policy perspective, we want to look at ways that we see sort of a sustained pipeline of new housing coming online.' A turning point with urgency Clayton says the roots of the crisis stretch back to the early-2000s when Ontario shifted its land-use focus towards environmental protection, including the establishment of the Greenbelt. He argues the policy limited where housing could be built, and gave too much power to growth management plans that discouraged the types of homes most people want — townhouses and detached units. 'We have to have a competitive supply of land,' Clayton said. 'Because if there's competition, then prices don't go up very much.' Despite efforts from all levels of government to address the issue — including a recent Ontario bill aimed at speeding up construction — most experts agree that housing affordability won't be meaningfully restored unless there's a broad and urgent shift in policy, from zoning and fees to taxes and timelines. 'The time for discussion has concluded. We really need the time for action,' Wilkes said.
CTV News
an hour ago
- CTV News
Over 4,200 residents in Tecumseh without power
Tecumseh OPP have Tecumseh Road East closed between Lesperance Road and Lacasse Boulevard. (Source: OnLocation_tv/X) 4,245 residents in Tecumseh are without power Sunday morning. A crash caused a power feeder to lock out, according to Essex Powerlines Corporation , which serves the affected customers. Crews are on scene working to restore power. Tecumseh OPP have Tecumseh Road East closed between Lesperance Road and Lacasse Boulevard. - Dustin Coffman/AM800 News
Globe and Mail
an hour ago
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10 AI Stocks I'd Buy Without Hesitation
Artificial intelligence (AI) has reached an inflection point where early leaders are separating from the pack, creating exceptional investment opportunities across the AI value chain. From semiconductor giants to software innovators, the winners in this space offer compelling multiyear growth stories as AI transforms from experimental technology to business necessity. Smart positioning in quality AI stocks today could deliver strong returns as this technology reshapes every industry over the next decade. The AI revolution is accelerating beyond even optimistic forecasts. Companies successfully harnessing AI are seeing dramatic improvements in productivity and customer outcomes, while those ignoring it risk obsolescence. The total addressable market reaches into the trillions, yet adoption remains early. This creates a rare window for investors to position themselves before the masses recognize AI's full potential. I've analyzed dozens of AI-related companies to identify those with sustainable competitive advantages and clear monetization paths. These 10 stocks offer diversified exposure across infrastructure, software, and applications. Each brings unique strengths to the AI ecosystem, and I'd confidently buy any at current level for long-term holdings. 1. AI chip dominance Nvidia (NASDAQ: NVDA) controls between 70% to 90% of the data center graphics processing unit (GPU) market, making its GPUs the industry standard for training large language models. The investment case rests on CUDA's decade-long ecosystem advantage, creating high switching costs. In Q1 of fiscal 2026, Nvidia reported record revenue of $44.1 billion, with data center revenue reaching $39.1 billion, a 73% increase year over year. Despite a $4.5 billion charge related to unsellable H20 GPUs due to U.S. export restrictions to China, Nvidia's dominance in AI infrastructure remains unchallenged. 2. Extreme ultraviolet monopoly ASML Holding (NASDAQ: ASML) manufactures the only extreme ultraviolet lithography machines capable of producing cutting-edge semiconductors, giving it the lion's share of the market for this critical technology. The company's substantial backlog provides multiyear revenue visibility, while research and development spending of around 4.3 billion euros annually maintains its technological moat. As AI drives demand for more advanced chips, ASML benefits, regardless of which chipmaker wins, making it a defensive play on AI infrastructure growth. 3. Enterprise AI transformation Microsoft (NASDAQ: MSFT) monetizes AI through proven channels, with Copilot subscriptions already generating billions in annualized revenue just months after launch. The company's advantage lies in distribution: 1.5 billion Office users worldwide and a dominant Azure cloud position enable rapid AI deployment at scale. Microsoft's track record of successfully monetizing new technologies through existing customer relationships reduces execution risk, while AI integration across all products drives pricing power. 4. AI-powered insurance disruptor Lemonade (NYSE: LMND) uses AI throughout insurance operations to slash costs and improve customer experience, with 70% of claims processed instantly without human intervention. The company's loss ratios have improved dramatically as its algorithms learn from expanding data sets, while operational expenses remain a fraction of traditional insurers. As Lemonade scales into auto insurance and other verticals, its AI-first approach creates structural advantages that legacy carriers cannot replicate without rebuilding from scratch. 5. Conversational AI pioneer SoundHound AI (NASDAQ: SOUN) provides voice AI technology to major automotive and restaurant brands, with revenue growing over 80% annually and gross margins expanding toward software-industry standards. The company's edge-computing approach processes voice on-device, addressing privacy concerns while reducing latency. Recent customer wins include multiple top 10 automakers and expanding restaurant chains, validating the technology as voice interfaces become standard across industries. 6. AI-powered data analytics Palantir Technologies (NASDAQ: PLTR) leverages two decades of classified government work to build AI platforms now driving over 70% annual commercial revenue growth. The company's Artificial Intelligence Platform (AIP) enables enterprises to deploy large language models on private data, addressing the security concerns limiting corporate AI adoption. With government contracts providing a stable base of revenue and commercial acceleration, Palantir offers both growth and stability in the emerging AI landscape. 7. AI data center infrastructure Applied Digital (NASDAQ: APLD) operates purpose-built data centers for high-performance computing, with facilities designed specifically for AI workload requirements, including advanced cooling and power density. The company has secured long-term contracts with Tier-1 customers for its entire 400MW capacity, providing predictable revenue growth. As AI compute demand outstrips supply, Applied Digital's specialized facilities command premium pricing, while its 2GW-plus development pipeline positions it for sustained growth. 8. Clean energy for AI Oklo (NYSE: OKLO) develops small modular reactors addressing AI data centers' massive energy requirements, with each reactor designed to provide 15MW to 50MW of clean baseload power. Recent regulatory streamlining and partnerships with data center operators validate the business model as tech companies seek carbon-free energy sources. The company's recycled fuel approach and compact design offer economic advantages over traditional nuclear energy, positioning it to benefit from AI's growing energy demands. 9. AI cloud infrastructure leader CoreWeave (NASDAQ: CRWV) specializes in GPU-accelerated cloud computing, offering AI-optimized infrastructure that major AI companies use for training and inference. The company is projected to generate $5 billion in revenue for 2025, with analysts expecting revenue to more than double to $11.6 billion in 2026 -- a 130% growth rate that validates its AI-first strategy. With established relationships serving leading AI labs and better GPU availability than most hyperscalers, CoreWeave has carved out a defensible niche in the fast-growing AI infrastructure market. 10. AI analytics specialist (NYSE: BBAI) applies AI to defense and commercial analytics, with expertise in computer vision and predictive modeling for mission-critical applications. The company reported Q1 2025 revenue of $34.8 million with 5% year-over-year growth and maintains a $385 million backlog, providing long-term revenue visibility. Recent contract wins in supply chain optimization and defense analytics demonstrate the value of specialized AI applications in regulated industries where accuracy and explainability matter most. Building an AI-powered portfolio These 10 stocks represent different layers of the AI ecosystem, from essential infrastructure to specialized applications. While AI investments are inherently volatile, each company demonstrates strong fundamentals, defensible market positions, and clear paths to sustainable growth. The convergence of technological capability, enterprise adoption, and massive addressable markets creates a compelling long-term opportunity for patient investors. Should you invest $1,000 in Nvidia right now? Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $656,825!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $865,550!* Now, it's worth noting Stock Advisor 's total average return is994% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 2, 2025 George Budwell has positions in Lemonade, Microsoft, Nvidia, and Palantir Technologies. The Motley Fool has positions in and recommends ASML, Lemonade, Microsoft, Nvidia, and Palantir Technologies. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
