Monday morning news drop
Think Foreign Buyer Taxes Don’t Work? Look At Windsor & Toronto Real Estate: BMO Ontario’s non-resident speculation tax (NRST) is expanding in size and location. The NRST was a 15% tax on the purchase of residential real estate in the Golden Horseshoe (Greater Toronto). As of March 30, 2022, it’s now 20% and applies to the whole province. Low revenues might have some believing it hasn’t been very effective, but that’s not the case. BMO wrote to clients this week to urge people to look at Windsor real estate if you want to see its impact. (Better Dwelling)
Can Home Prices and Interest Rates Soar at the Same Time? Rising mortgage rates are supposed to cool house prices. But this time could be different. (New York Times)
This Is What Happens When Globalization Breaks Down The story of one shipping container from a factory in China to a warehouse in the United States traces the arc of a global supply chain consumed by trouble. (New York Times)
When Nokia Pulled Out of Russia, a Vast Surveillance System Remained The Finnish company played a key role in enabling Russia’s cyberspying, documents show, raising questions of corporate responsibility. (New York Times)
Are you really getting a deal at your favourite dollar store? CBC’s Marketplace put items for sale at Dollarama and Dollar Tree to the test (CBC Marketplace)
It’s not too late for new Covid-19 drugs to change the pandemic The new, easy-to-take antivirals are now on pharmacy shelves. This is who they stand to help the most. (Vox)
Did Sweden beat the pandemic by refusing to lock down? No, its record is disastrous. A new study by European scientific researchers buries all those claims in the ground. Published in Nature, the study paints a devastating picture of Swedish policies and their effects. “The Swedish response to this pandemic,” the researchers report, “was unique and characterized by a morally, ethically, and scientifically questionable laissez-faire approach.” (LA Times)
Covid success to covid disaster: What happened in Hong Kong? For two years, Hong Kong was known for its relative success in controlling covid. Strict measures, 3-week quarantines for travelers, lockdowns and curfews were part of the effort, even after most of the world had moved toward coexisting with the virus. But starting in February, Hong Kong’s defenses faltered. (Grid)
War got weird: Half a century of IT innovation is now being used for destruction. Technology fundamentally transforms the experience of human life in unexpected ways that are difficult to comprehend. Technology weirds the world. Military technology, unfortunately, is part of that. If you give human beings new capabilities, some of those humans are going to use those capabilities to try to kill each other. (Noahpinion)
Why Kyle Lowry’s carefully-planned exit was necessary for Raptors to take next step The Toronto Raptors would never be where they are now without Kyle Lowry.
But they wouldn’t be able to get to where they want to be if the team’s all-time leader in assists, steals, charges drawn and wins was still wearing No. 7, throwing his body all over the wood and into the crowd like every loose ball was a live grenade that needed to be smothered. (Sportsnet)
For My Toronto Family Kyle Lowry’s love letter to Toronto “It’s never going to be a wrap between me and this city. With family, it’s never goodbye.” (The Players Tribune)
Chris Paul Is Building a Business Empire. Now All He Needs Is an NBA Ring: CP3 is making deals, texting with Bob Iger, and getting ready for a championship run. (Businessweek)
How High Energy Prices Could Help Both the Climate and the U.S. With Russian output shut in, U.S. producers could gain market share even as world hastens shift to renewables. (Wall Street Journal)
